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Jimmy Choo, Versace, and Michael Kors are attracting more young consumers.

Feb 03 2022

Jimmy Choo, Versace, and Michael Kors are attracting more young consumers. According to a recent report, fashion conglomerate Capri reported that revenue rose 24% year-over-year in its third quarter, reaching $1.6 billion and a net income of $322 million across its brands. Jimmy Choo revenue rose 47%, Versace revenue increased 29%, and Michael Kors revenue jumped 20%, and the company notes young consumers are fueling part of its new customer growth. Newfound excitement for luxury clothing, consumers’ desire to treat themselves, and gift buying also helped lift sales according to GlobalData’s Managing Director. For its current fiscal year, Capri plans to expand its footprint by opening nearly 100 more Versace stores and growing Michael Kors’ men’s business. YPulse research shows young people are interested in owning luxury pieces, and making the space more accessible is vital for reaching them. (Retail Dive)