CPRI Stock Recent News

Prada has agreed to buy Versace for $1.38 billion, in a cash deal aimed at strengthening its position as Italy's largest luxury brand. Tommaso Ebhardt has the latest from Milan.

Capri Holdings may have to let go of its image as a luxury fashion house and bank on mid-tier pricing as well as a partnership with Amazon.com for its Michael Kors brand following its $1.4 billion sale of Versace to Prada.

The merger strengthens Italy's hand in a luxury industry led by French conglomerates, the biggest being Louis Vuitton owner LVMH.

Fashion conglomerate Capri Holdings (CPRI) has agreed to sell Italian luxury brand Versace to Prada for almost $1.4 billion, a deal that had been anticipated but reportedly had been at risk of collapsing because of market turmoil in the wake of President Donald Trump's tariffs.

LONDON--(BUSINESS WIRE)--Capri Holdings Limited (NYSE: CPRI), a global fashion luxury group, today announced that it has entered into a definitive agreement to sell Versace to Prada S.p.A. (HKSE: 1913) for $1.375 billion in cash subject to certain adjustments. The transaction is expected to close in the second half of calendar 2025, subject to customary closing conditions including regulatory approvals. John D. Idol, the Company's Chairman and Chief Executive Officer, said, “Versace is an iconi.

Capri Holdings, the owner of Michael Kors, Versace and Jimmy Choo, has seen its stock price in the dumps. Revenue declines, and poor profitability for Versace and Jimmy Choo, suggest that Capri's North American management have been unable to successfully fold these international brands into the main Kors business. CPRI stock recently tumbled as much as -40% on U.S. import tariff fears, and indeed the Michael Kors segment is highly exposed to tariffs.

Prada's talks to acquire Versace from fashion conglomerate Capri Holdings CPRI 4.09%increase; green up pointing triangle are at risk of collapsing at the eleventh hour with financial markets in historic turmoil, according to people familiar with the matter.

Macy's hired Thomas Edwards to be its next CFO and COO, roles he has held at Versace owner Capri Holdings for eight years.

Capri Holdings's finance chief Thomas Edwards will leave the company to join department store chain Macy's as its chief financial officer.

LONDON--(BUSINESS WIRE)--Capri Holdings Limited (NYSE:CPRI), a global fashion luxury group, today announced that Thomas J. Edwards, Jr., Executive Vice President, Chief Financial Officer and Chief Operating Officer, will be leaving the company to pursue another opportunity. Mr. Edwards will remain with the Company until June 20, 2025. The Company has commenced a search for Mr. Edwards' replacement. Upon Mr. Edwards' departure, Rajal Mehta, Chief Financial Officer of Michael Kors, will assume th.