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Capri Holdings Limited is a global fashion luxury group with executive offices based in London. Earlier this month, they coordinated protective actions for their employees to combat the impact of Covid-19.

“The impact of COVID-19 on the world and the global economy is changing rapidly in ways we could not have anticipated,” said Chairman and Chief Executive Officer, John D. Idol. “This is a very challenging time for our business. We are diligently working to address this unprecedented situation by taking measures to protect our employees and maintain the company’s financial flexibility. We do not take any of these measures lightly, particularly with respect to our employees who are the heart and soul of our company. We believe that these actions are necessary in order to enable us to overcome the burdens of this financial crisis. We continue to believe in the power of our three fashion luxury brands and the resiliency of our company to navigate these extraordinary times.”

VERSACE (Photo: Business Wire)

“Given our size and scale, we believe that Capri is well-positioned to continue to operate its business despite this unprecedented situation," continued Mr. Idol. "We have a strong balance sheet and will continue to take disciplined actions to preserve our cash and liquidity. Leveraging our strong relationships with our vendors, suppliers and landlords, we intend to work together in an effort to maintain our financial strength. Given our current projections of the future impact of COVID-19 on the global economy and our business, we are optimistic that Capri will rebound and believe we have the financial resources to emerge a strong company.”

MICHAEL KORS (Photo: Business Wire)

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About Capri Holdings Limited

Capri Holdings Limited is a global fashion luxury group, consisting of iconic brands that are industry leaders in design, style and craftsmanship. Its brands cover the full spectrum of fashion luxury categories including women’s and men’s accessories, footwear and ready-to-wear as well as wearable technology, watches, jewelry, eyewear and a full line of fragrance products. The Company’s goal is to continue to extend the global reach of its brands while ensuring that they maintain their independence and exclusive DNA. Capri Holdings Limited is publicly listed on the New York Stock Exchange under the ticker CPRI.

Information originally sourced from BusinessWire.