Capri takes a hit but CEO focuses on diversity
The CEO of luxury group Capri focused on those affected by the pandemic, the health of employees and increasing diversity in his opening remarks of the group’s full-year financial statement.
During the fourth quarter, which ended March 28, group revenue was down 11.3%, but full year revenue still grew 6%.
Currently, around 90% of the company’s global retail fleet of stores – including Versace, Jimmy Choo and Michael Kors - are open.
The group expects the pandemic to affect results during the next financial year but was encouraged by better-than-expected sales as shops reopened, and expects to continue its ‘upwards trajectory’ in 2022.
Group CEO John Idol said: "As we manage through this evolving situation, our first priority is to help protect the health and safety of our employees, customers and communities. I want to thank our teams around the globe for the hard work and dedication they demonstrate every day, particularly now as we reopen stores and begin to return to our offices across the globe.
“I would also like to express my heartfelt condolences to the individuals, families and communities affected by the unjust and tragic deaths of George Floyd and Rayshard Brooks as well as the countless victims that have come before them. The systemic discrimination that has led us to this point is deplorable and untenable.
“At Capri, we stand against racism, discrimination and violence of any kind. As an organisation and as individuals, we have an opportunity to positively impact the future.
"Capri Holdings is committed to listening, learning and taking the necessary actions to support long-term positive change for the Black community. While we foster an inclusive environment where employees of diverse backgrounds are welcomed, valued and celebrated, there is more work that we can do to increase diversity at all levels inside our company. We are working on significant initiatives to create change within Capri Holdings."
