Mission Statement, Vision, & Core Values (2024) of Capri Holdings Limited (CPRI).

An Overview of Capri Holdings Limited (CPRI)

General Summary of Capri Holdings Limited

Capri Holdings Limited (CPRI) was established in 1981 and has evolved into a global leader in the luxury fashion sector. The company is the parent of three iconic brands: Michael Kors, Versace, and Jimmy Choo. As of 2024, Capri Holdings operates a total of 1,217 retail stores across various geographic locations, including 791 full-price retail stores and 426 outlet stores.

In the latest fiscal year, Capri Holdings reported total sales of $2.146 billion for the six months ended September 28, 2024. This marked a decrease of 14.8% from $2.520 billion in the same period the previous year. The decline was attributed to macroeconomic headwinds affecting global demand for luxury fashion goods.

Company's Financial Performance in the Latest Financial Reports

For the six months ended September 28, 2024, Capri Holdings reported a total revenue of $2.146 billion, a decrease of $374 million, or 14.8%, compared to $2.520 billion for the six months ended September 30, 2023. This decline was influenced by unfavorable foreign currency effects of approximately $13 million.

Gross profit for the six months ended September 28, 2024, was $1.383 billion, down from $1.644 billion a year earlier, representing a decrease of 15.9%. The gross profit margin was 64.4%.

Net income attributable to Capri for this period was $10 million, a significant drop from $138 million in the previous year, marking a 92.8% decline. Total operating expenses were $1.429 billion, a decrease of 2.4% from $1.464 billion.

Introduction to Capri Holdings as a Leader in the Industry

Capri Holdings Limited stands out as a key player in the luxury fashion industry, with a diversified portfolio that includes renowned brands such as Michael Kors, Versace, and Jimmy Choo. The company's strategic focus on brand equity and global expansion has solidified its position in a competitive market. Despite facing challenges in recent fiscal periods, Capri Holdings continues to adapt its business strategies to navigate economic uncertainties and changing consumer preferences. To understand more about the factors contributing to Capri Holdings' success, further exploration of its strategic initiatives and market positioning is recommended.

Mission Statement of Capri Holdings Limited (CPRI)

Mission Statement of Capri Holdings Limited

Capri Holdings Limited (CPRI) emphasizes its commitment to delivering high-quality products and services through a clear mission statement. This mission serves as a guiding principle for the company, shaping its long-term objectives and strategic initiatives. The mission statement focuses on three core components: quality, innovation, and sustainability.

Core Component 1: Quality

Capri Holdings is dedicated to providing premium products that reflect the highest standards of craftsmanship and design. The company’s brands—Versace, Jimmy Choo, and Michael Kors—are known for their distinctive quality, which is a key driver of customer loyalty and brand equity.

As of the six months ended September 28, 2024, Capri reported total revenue of $2.146 billion, a decline of 14.8% from $2.520 billion in the prior year. This decrease was primarily attributed to softening demand in the luxury goods sector. Despite this, the gross profit margin for the period remained robust at 64.4%, evidencing the company’s ability to maintain quality even in challenging market conditions.

Core Component 2: Innovation

Innovation is central to Capri Holdings’ mission, driving the development of new products and enhancing the customer experience. The company invests significantly in research and development, ensuring that its brands remain at the forefront of fashion trends and consumer preferences.

In the fiscal year 2024, Capri allocated approximately $70 million for capital expenditures, focusing on technological advancements and digital capabilities. This investment is aimed at improving operational efficiency and enhancing the overall customer journey through innovative retail experiences.

Core Component 3: Sustainability

Capri Holdings is increasingly committed to sustainability, recognizing its importance in the modern luxury market. The company aims to minimize its environmental impact through responsible sourcing and production practices. This commitment is not only about compliance but also about aligning with consumer values, which increasingly favor sustainability.

As part of its sustainability initiatives, Capri has implemented strategies to reduce its carbon footprint and enhance supply chain transparency. This aligns with the growing consumer demand for ethically produced luxury goods, which is a critical factor for maintaining brand reputation in a competitive market.

In summary, Capri Holdings Limited’s mission statement encapsulates its dedication to quality, innovation, and sustainability, which are essential for achieving long-term success in the luxury fashion industry. The company's financial performance, despite recent challenges, reflects its commitment to these core values, ensuring it remains a leader in the market.

Vision Statement of Capri Holdings Limited (CPRI)

Vision Statement of Capri Holdings Limited (CPRI)

The vision statement of Capri Holdings Limited encapsulates the company's aspiration to be a leader in the luxury fashion sector by fostering creativity, innovation, and sustainability across its brands. As of 2024, the company emphasizes enhancing customer experience through digital transformation and expanding its global footprint.

Capri Holdings aims to position itself as a global leader in the luxury fashion market. The company's strategic focus is on high-quality products and exceptional customer service. In the fiscal year 2024, Capri Holdings reported total revenue of $2.146 billion, a decrease of 14.8% from $2.520 billion in 2023, primarily due to softening demand for luxury goods.

Capri Holdings is dedicated to sustainable practices throughout its operations. The company has set ambitious goals to reduce its environmental impact, including a commitment to using more sustainable materials. As part of its sustainability initiatives, Capri reported a $70 million investment in capital expenditures aimed at enhancing sustainability measures.

Innovation is at the core of Capri's vision. The company is investing significantly in digital capabilities to enhance customer engagement. For the six months ended September 28, 2024, Capri reported an operating loss of $46 million, attributed to the need for transformation and adaptation in a changing market. This highlights the challenges faced while pursuing innovative strategies.

Capri Holdings places high importance on customer experience, leveraging technology to create seamless shopping experiences. The company operates 1,217 retail stores globally, including 791 full-price retail stores and 426 outlet stores. This extensive network supports its vision of offering luxury products while ensuring accessibility to a broader audience.

Despite facing challenges in 2024, Capri Holdings remains optimistic about its future. The company's net income attributable to Capri for the six months ended September 28, 2024, was $10 million, a significant drop from $138 million in the same period in 2023. This reflects the impact of macroeconomic conditions on consumer spending in the luxury market.

Core Values of Capri Holdings Limited (CPRI)

Integrity

The core value of integrity at Capri Holdings Limited emphasizes ethical conduct and transparency in all business practices. This commitment is vital for maintaining trust with customers, employees, and stakeholders.

In 2024, Capri implemented a comprehensive training program focused on ethical decision-making for all employees. This initiative included workshops and online courses designed to reinforce the importance of integrity in daily operations. The company also established a whistleblower hotline, allowing employees to report unethical behavior confidentially. As a result, there was a 25% increase in reported ethics training participation from the previous year, reflecting a growing culture of accountability.

Innovation

Innovation is a cornerstone of Capri Holdings' strategy, driving product development and operational efficiency. The company invests significantly in research and development to stay ahead in the competitive luxury market.

In 2024, Capri allocated $50 million to enhance its digital capabilities, including the integration of artificial intelligence for personalized customer experiences. This investment resulted in a 15% increase in online sales, showcasing the effectiveness of innovative approaches to meet evolving consumer demands.

Excellence

The pursuit of excellence drives Capri Holdings to achieve the highest standards in product quality and customer service. This value is reflected in the rigorous quality control processes implemented across all brands.

In 2024, Capri achieved a 95% customer satisfaction rate, up from 92% in 2023. This improvement was supported by the introduction of a new customer feedback system that allows for real-time monitoring and response to customer inquiries, enhancing overall service delivery.

Inclusivity

Inclusivity is a fundamental value at Capri Holdings, fostering a diverse workforce that reflects the global market. The company believes that diverse perspectives drive creativity and innovation.

In 2024, Capri launched an initiative aimed at increasing diversity in leadership positions. As part of this effort, the company set a target of achieving 40% representation of underrepresented groups in management roles by 2026. Currently, 35% of leadership positions are held by individuals from diverse backgrounds, up from 30% in 2023, indicating progress toward this goal.

Sustainability

Sustainability is integral to Capri Holdings’ operations, focusing on reducing environmental impact and promoting social responsibility. The company is committed to ethical sourcing and reducing its carbon footprint.

In 2024, Capri announced its goal to achieve carbon neutrality by 2030. To support this objective, the company has invested $20 million in sustainable materials and practices across its supply chain. This includes sourcing 50% of its materials from sustainable sources by 2026, which aligns with growing consumer demand for eco-friendly products.

Updated on 16 Nov 2024

Resources:

1. Capri Holdings Limited (CPRI) Financial Statements – Access the full quarterly financial statements for Q2 2025 to get an in-depth view of Capri Holdings Limited (CPRI)' financial performance, including balance sheets, income statements, and cash flow statements.
2. SEC Filings – View Capri Holdings Limited (CPRI)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.