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Capri Holdings Focuses on Luxury Fashion, to Buy Alberto Gozzi
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With a view to further cement its position in the global luxury market, Capri Holdings Limited (CPRI - Free Report) now plans to acquire Alberto Gozzi S.r.L., an Italian atelier and shoe manufacturer in Pistoia, Tuscany. The transaction is likely to be concluded in the fourth quarter of fiscal 2020.
Management is enthusiastic to welcome all Gozzi’s craftsmen to the Capri Holdings Group, who have been producing high-end shoes for many of the world’s top luxury brands over the years. In the near future, the factory will develop and produce shoes for Jimmy Choo and Versace. Later, it will add production of Michael Kors Collection shoes.
Capri Holdings has been steadily strengthening its position in the luxury fashion space, as evident from the acquisition of Jimmy Choo in 2017 that provided it additional avenues for international growth and a strong base in the luxury footwear category. The company also acquired the iconic Italian fashion brand, Versace, in 2018. These brands, along with Michael Kors, will help augment the company’s revenues to $8 billion in the long term.
Management intends to increase Versace’s revenues to $2 billion, while it plans to augment Michael Kors’ revenues to $5 billion in the long term. With respect to Jimmy Choo, management sees opportunity to boost sales to $1 billion. Additionally, it plans to increase Versace’s and Jimmy Choo’s store count to 300.
Capri Holdings has been progressing well on product innovation, brand engagement, fleet modernization, digital innovation and enhancement of customer experience. Also, the company’s focus on e-commerce platform bodes well. It has been constantly deploying resources to upgrade its information system and distribution infrastructure. For fiscal 2020, management anticipates total revenues to be approximately $5.8 billion.
Notably, shares of this Zacks Rank #3 (Hold) company have increased around 20% in the past three months, outperforming the industry’s growth of 1.4%.
3 Stocks to Consider
Boot Barn Holdings, Inc. (BOOT - Free Report) delivered a positive earnings surprise of 22.7%, in the trailing four quarters, on average. It has a long-term earnings growth rate of 17% and a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shoe Carnival, Inc. (SCVL - Free Report) delivered a positive earnings surprise of 11.5%, in the trailing four quarters, on average. It currently sports a Zacks Rank #1.
Tilly's, Inc. (TLYS - Free Report) has a long-term earnings growth rate of 11% and a Zacks Rank #1.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our latest Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
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Capri Holdings Focuses on Luxury Fashion, to Buy Alberto Gozzi
With a view to further cement its position in the global luxury market, Capri Holdings Limited (CPRI - Free Report) now plans to acquire Alberto Gozzi S.r.L., an Italian atelier and shoe manufacturer in Pistoia, Tuscany. The transaction is likely to be concluded in the fourth quarter of fiscal 2020.
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Management is enthusiastic to welcome all Gozzi’s craftsmen to the Capri Holdings Group, who have been producing high-end shoes for many of the world’s top luxury brands over the years. In the near future, the factory will develop and produce shoes for Jimmy Choo and Versace. Later, it will add production of Michael Kors Collection shoes.
Capri Holdings has been steadily strengthening its position in the luxury fashion space, as evident from the acquisition of Jimmy Choo in 2017 that provided it additional avenues for international growth and a strong base in the luxury footwear category. The company also acquired the iconic Italian fashion brand, Versace, in 2018. These brands, along with Michael Kors, will help augment the company’s revenues to $8 billion in the long term.
Management intends to increase Versace’s revenues to $2 billion, while it plans to augment Michael Kors’ revenues to $5 billion in the long term. With respect to Jimmy Choo, management sees opportunity to boost sales to $1 billion. Additionally, it plans to increase Versace’s and Jimmy Choo’s store count to 300.
Capri Holdings has been progressing well on product innovation, brand engagement, fleet modernization, digital innovation and enhancement of customer experience. Also, the company’s focus on e-commerce platform bodes well. It has been constantly deploying resources to upgrade its information system and distribution infrastructure. For fiscal 2020, management anticipates total revenues to be approximately $5.8 billion.
Notably, shares of this Zacks Rank #3 (Hold) company have increased around 20% in the past three months, outperforming the industry’s growth of 1.4%.
3 Stocks to Consider
Boot Barn Holdings, Inc. (BOOT - Free Report) delivered a positive earnings surprise of 22.7%, in the trailing four quarters, on average. It has a long-term earnings growth rate of 17% and a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shoe Carnival, Inc. (SCVL - Free Report) delivered a positive earnings surprise of 11.5%, in the trailing four quarters, on average. It currently sports a Zacks Rank #1.
Tilly's, Inc. (TLYS - Free Report) has a long-term earnings growth rate of 11% and a Zacks Rank #1.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our latest Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
See 5 Stocks Set to Double>>