Inside Capri Holdings: Jimmy Choo Rises as Michael Kors Steadies

It signals a divergence: one brand gaining momentum, one resetting, and a balance sheet that just got a lot cleaner after the $1.375 billion Versace sale to Prada. Brand Q3 Revenue YoY Change Operating Margin Michael Kors $858M -5.6% 13.9% Jimmy Choo $167M +5.0% 1.8% Total (Group) $1.025B -4.0% 4.5% reported / 7.7% adj.

Jimmy Choo: The Bright Spot Jimmy Choo delivered 5% revenue growth on a reported basis, reaching $167 million. Core accessories and improving retail momentum were the drivers.

More telling: the brand flipped from a $6 million operating loss a year ago to a $3 million operating profit — a swing that signals strategic traction, not just a good quarter. Gross margin also expanded, coming in at 66.5% versus 66% in the prior year.

The brand has been quietly repositioning around elevated accessories and a tighter product story. It is a smaller business than Michael Kors, but it is moving in the right direction and closing in on sustainable profitability…