Michael Kors Owner Capri Forecasts 70% Fall in Current-Quarter Revenue

Michael Kors logo is seen in a shop in downtown Lisbon, Portugal, November 16, 2016. (Reuters)
Michael Kors logo is seen in a shop in downtown Lisbon, Portugal, November 16, 2016. (Reuters)
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Michael Kors Owner Capri Forecasts 70% Fall in Current-Quarter Revenue

Michael Kors logo is seen in a shop in downtown Lisbon, Portugal, November 16, 2016. (Reuters)
Michael Kors logo is seen in a shop in downtown Lisbon, Portugal, November 16, 2016. (Reuters)

Michael Kors owner Capri Holdings Ltd on Wednesday forecast a larger-than-expected 70% drop in current-quarter revenue and “significant” losses, as the COVID-19 pandemic hammers demand for its luxury handbags and dresses.

Analysts had forecast a 46.7% fall in current quarter revenue, according to IBES data from Refinitiv.

In delayed fourth-quarter results, Capri said total revenue fell 11.3% to $1.19 billion in the three months ended March 28, slightly above analysts’ average estimate of $1.12 billion.



At Hermes, Woven Leather and Quiet Confidence Set the Tone for Paris Menswear

 A model wears a creation as part of the men's Hermes Spring-Summer 2026 collection, that was presented in Paris Saturday, June 28, 2025. (AP)
A model wears a creation as part of the men's Hermes Spring-Summer 2026 collection, that was presented in Paris Saturday, June 28, 2025. (AP)
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At Hermes, Woven Leather and Quiet Confidence Set the Tone for Paris Menswear

 A model wears a creation as part of the men's Hermes Spring-Summer 2026 collection, that was presented in Paris Saturday, June 28, 2025. (AP)
A model wears a creation as part of the men's Hermes Spring-Summer 2026 collection, that was presented in Paris Saturday, June 28, 2025. (AP)

While much of Paris Fashion Week chased spectacle, Hermes chose a different path.

On Saturday, artistic director Véronique Nichanian unveiled a Summer 2026 men’s collection that spoke in a language of quiet strength, deep craft and calm luxury.

Models walked beneath soaring mirrors in sharply cut jackets, high-waisted woven leather trousers, and sleeveless tops — pieces that fused house tradition with a modern, easy sensuality.

Nichanian’s colors were cool and exact: coffee, slate, taupe and beige, each one a lesson in subtlety. There was no shouting here, only precision.

What made the collection powerful was its restraint. Where others go wide, Hermes goes narrow, offering tailored silhouettes and a sense of order when the rest of fashion is busy making noise. Fine leather, featherlight silks, and bandanas with a whisper of fringe reminded the crowd that true luxury is about touch, not flash.

Nichanian’s playful touches — zigzag motifs, the wink of an unbuttoned shirt, a glint of silver hardware — kept things human, not stiff. It was a masterclass in how to make classic codes feel new, even radical, simply by refusing to chase trends.

In a season marked by designer shake-ups and economic jitters, Hermes stood alone: confident, focused, and unwilling to compromise. As Nichanian took her bow to cheers, she sent a clear message — at Hermes, luxury is about the pleasure of the wearer, not the applause of the crowd.