Capri Holdings Completes Sale of Versace

Core Viewpoint - Capri Holdings Limited has successfully completed the sale of Versace to Prada S.p.A. for $1.375 billion in cash, which is expected to enhance the company's financial position and flexibility for future investments and shareholder returns [1][2]. Financial Impact - The proceeds from the sale will primarily be used to repay a significant portion of Capri Holdings' debt, leading to a substantial reduction in the company's leverage ratio [2]. - This transaction is anticipated to provide greater financial flexibility for Capri Holdings to invest in growth and return capital to shareholders in the future [2]. Strategic Focus - The company remains committed to executing its strategic initiatives across its remaining brands, Michael Kors and Jimmy Choo, to maximize their potential [2]. - Capri Holdings aims to stabilize its business in the current fiscal year while laying a solid foundation for growth in fiscal 2027 [2]. Leadership Acknowledgment - The CEO of Capri Holdings expressed gratitude to the Versace team for their contributions, particularly recognizing key leaders for their commitment to the brand's evolution [2]. Company Overview - Capri Holdings Limited is a global fashion luxury group that includes iconic brands such as Michael Kors and Jimmy Choo, focusing on glamorous style and craftsmanship [3].