The Capri group, which owns luxury brands, is pleased with the results of work in April-June 2020.
Luxury holding Capri has reported on the results of work in the second quarter of 2020. At the same time, the published document says that thanks to the growth of online sales (+ 30%), the group managed to avoid the losses predicted by analysts earlier.
China has become the main driver of growth in the e-commerce segment for Versace and Jimmy Choo. The increase in online sales in the local market allowed Capri to show almost the same results during the reporting period as it did a year ago. However, sales in Hong Kong and Macau were lower than in 2019. In Europe and the North American market, the decline in sales amounted to 40% altogether. However, Capri CEO John Idol said calmly, if not optimistic: “Every year there is a high season when tourists come to London, Paris, Milan, Florence and Barcelona. These are very important cities for us, where we realize a huge volume of sales. Obviously, nothing of the kind should be expected this year, and we continue to cautiously assess the situation in Europe."