Luxury / news
Capri Holdings Shares Jump Nearly 10% on Reported Buyer Interest
Capri Holdings shares climbed almost 10% earlier this week after reports that the owner of Michael Kors and Jimmy Choo has been in contact with potential acquirers. The company has not confirmed any buyer interest, and the identity and seriousness of the parties remain unclear.
Media reports said the luxury group approached prospective buyers who went on to review its financial records, though the accounts did not name the parties involved or specify how far any discussions had progressed. Capri has not officially acknowledged the reported interest.
The speculation lands after Capri's planned $8.5 billion acquisition by Tapestry was blocked by a US federal judge in October 2024 on antitrust grounds. The Federal Trade Commission had argued that combining the two businesses would cut competition in the accessible luxury handbag market.
Capri has also contended with softer demand for luxury goods in recent quarters, as economic uncertainty weighed on consumer spending — raising the stakes on efforts to reignite growth across its brands.
Speaking at the Goldman Sachs Global Retail and Consumer Conference, Capri executives said they expect growth to accelerate in the second half of the year, helped by new products, higher marketing investment and store renovations at Michael Kors and Jimmy Choo.
Chairman, chief executive and director John Idol said the company had spent about 18 months resetting its product, marketing and store strategies, with the greatest focus on Michael Kors.