Global fashion luxury group Capri Holdings Limited announced that all of its 288 Versace, Michael Kors, and Jimmy Choo stores in Greater China are already open, following the closure in late January due to the coronavirus pandemic.
In Japan, South Korea, and other parts of Southeast Asia, the company began closing stores in February. Currently, nearly 70 percent of the 210 stores in these areas are open.
“In Mainland China, where stores have been open the longest, volumes began to gradually build, with sales in April and May approximately flat to last year at Versace and Jimmy Choo, and approximately 80 percent for prior-year levels at Michael Kors for the same period,” the group said.
In Americas, all Versace, Jimmy Choo, and Michael Kors stores in the Americas closed in mid-March 2020. Currently, less than 15% of the 455 retail stores in the region are open and the firm anticipates having the majority open by early July 2020.
In EMEA, all Versace, Jimmy Choo, and Michael Kors locations closed in mid-March 2020. Currently, almost 60 percent of the 318 retail stores in the region are open and majority is expected to open by early July 2020. Sales at reopened stores are approximately 50 percent of prior year volumes since reopening as compared to the same period last year.
Health and Safety First – John Idol
“As we reopen our stores around the world, we are prioritizing the health and safety of our employees, customers, and communities. We are taking a prudent and measured approach to reopening our stores to ensure all necessary precautions are in place while maintaining the exceptional in-store experience our customers expect from our luxury houses,” said John Idol, the company’s Chairman and CEO.
Capri Holdings Limited is a global fashion luxury group, consisting of iconic brands that are industry leaders in design, style, and craftsmanship. Its brands cover the full spectrum of fashion luxury categories including women’s and men’s accessories, footwear and ready-to-wear as well as wearable technology, watches, jewelry, eyewear, and a full line of fragrance products. – BusinessNewsAsia.com