Versace clothing
(Picture: Versace)Luxury fashion businesses Ralph Lauren and Capri Holdings both posted first-quarter results that strode past analyst expectations as shoppers kept forking out for high end clothes, shoes and handbags despite soaring inflation and squeezed household budgets.
London-based Capri Holdings, owner of fashion brands Versace, Jimmy Choo and Michael Kors, reported an 8.5% boost in revenue to $1.4 billion (£1.1 billion) while its operating margin grew 18.5%. CEO John D. Idol was bullish about the company’s prospects despite fears of an imminent economic downturn.
