CAPRI HOLDINGS LTD, 10-Q filed on 8/7/2025
Quarterly Report
v3.25.2
Cover Page - shares
 3 Months Ended
Jun. 28, 2025
Jul. 31, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 28, 2025  
Document Transition Report false  
Entity File Number 001-35368  
Entity Registrant Name CAPRI HOLDINGS LTD  
Entity Incorporation, State or Country Code D8  
Entity Address, Address Line One 90 Whitfield Street  
Entity Address, Address Line Two 2nd Floor  
Entity Address, City or Town London  
Entity Address, Country GB  
Entity Address, Postal Zip Code W1T 4EZ  
Country Region 44  
City Area Code 207  
Local Phone Number 632 8600  
Title of 12(b) Security Ordinary Shares, no par value  
Trading Symbol CPRI  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   119,048,057
Amendment Flag false  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Entity Central Index Key 0001530721  
Current Fiscal Year End Date --03-28  
v3.25.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 28, 2025
Mar. 29, 2025
Current assets    
Cash and cash equivalents $ 129 $ 107
Receivables, net 171 215
Inventories, net 779 701
Prepaid expenses and other current assets 176 156
Current assets held for sale 384 342
Total current assets 1,639 1,521
Property and equipment, net 400 393
Operating lease right-of-use assets 823 825
Intangible assets, net 595 582
Goodwill 204 199
Deferred tax assets 1 0
Other assets 100 99
Noncurrent assets held for sale 1,707 1,594
Total assets 5,469 5,213
Current liabilities    
Accounts payable 403 379
Accrued payroll and payroll related expenses 78 81
Accrued income taxes 52 66
Short-term operating lease liabilities 241 249
Short-term debt 21 24
Accrued expenses and other current liabilities 265 233
Current liabilities held for sale 339 304
Total current liabilities 1,399 1,336
Long-term operating lease liabilities 808 814
Deferred tax liabilities 75 233
Long-term debt 1,650 1,466
Other long-term liabilities 962 417
Noncurrent liabilities held for sale 588 575
Total liabilities 5,482 4,841
Commitments and contingencies
Shareholders’ equity    
Ordinary shares, no par value; 650,000,000 shares authorized; 228,886,329 shares issued and 119,040,814 outstanding at June 28, 2025; 227,672,351 shares issued and 117,913,201 outstanding at March 29, 2025 0 0
Treasury shares, at cost (109,845,515 shares at June 28, 2025 and 109,759,150 shares at March 29, 2025) (5,463) (5,462)
Additional paid-in capital 1,492 1,476
Accumulated other comprehensive (loss) income (396) 57
Retained earnings 4,350 4,297
Total shareholders’ equity of Capri (17) 368
Noncontrolling interest 4 4
Total shareholders’ equity (13) 372
Total liabilities and shareholders’ equity $ 5,469 $ 5,213
v3.25.2
CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares
Jun. 28, 2025
Mar. 29, 2025
Shareholders’ equity    
Ordinary shares, shares authorized (in shares) 650,000,000 650,000,000
Ordinary shares, shares issued (in shares) 228,886,329 227,672,351
Ordinary shares, shares outstanding (in shares) 119,040,814 117,913,201
Treasury shares (in shares) 109,845,515 109,759,150
v3.25.2
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Income Statement [Abstract]    
Total revenue $ 797 $ 848
Cost of goods sold 295 313
Gross profit 502 535
Selling, general and administrative expenses 455 491
Depreciation and amortization 30 32
Restructuring and other expense 1 1
Total operating expenses 486 524
Income from operations 16 11
Other income, net (1) 0
Interest income, net (18) (4)
Foreign currency (gain) loss (5) 4
Income from continuing operations before income taxes 40 11
(Benefit) provision for income taxes (16) 6
Net income from continuing operations 56 5
Net loss from discontinued operations, net of tax (3) (17)
Net income (loss) 53 (12)
Less: Net income attributable to noncontrolling interest from continuing operations 0 2
Net income (loss) attributable to Capri $ 53 $ (14)
Weighted average ordinary shares outstanding:    
Basic (in shares) 118,799,819 117,440,282
Diluted (in shares) 119,107,663 118,256,417
Net income (loss) per ordinary share attributable to Capri:    
Basic from continuing operations (in dollars per share) $ 0.47 $ 0.03
Basic from discontinued operations (in dollars per share) (0.03) (0.14)
Basic per ordinary share (in dollars per share) 0.44 (0.11)
Diluted from continuing operations (in dollars per share) 0.47 0.03
Diluted from discontinued operations (in dollars per share) (0.03) (0.15)
Diluted per ordinary share (in dollars per share) $ 0.44 $ (0.12)
Statements of Comprehensive Loss:    
Net income (loss) $ 53 $ (12)
Foreign currency translation adjustments (451) (29)
Net loss on derivatives (2) 0
Comprehensive loss (400) (41)
Less: Net income attributable to noncontrolling interest 0 2
Comprehensive loss attributable to Capri $ (400) $ (43)
v3.25.2
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Total Equity of Capri
Ordinary Shares
Additional Paid-in Capital
Treasury Shares
AOCI
 [1]
Retained Earnings
Non-controlling Interest
Beginning balance (in shares) at Mar. 30, 2024     226,271,000          
Beginning balance at Mar. 30, 2024 $ 1,600 $ 1,599 $ 0 $ 1,417 $ (5,458) $ 161 $ 5,479 $ 1
Beginning balance (in shares) at Mar. 30, 2024         (109,641,000)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net (loss) income (12) (14)         (14) 2
Other comprehensive loss (29) (29)       (29)    
Comprehensive loss (41) (43)           2
Vesting of restricted awards, net of forfeitures (in shares)     1,246,000          
Share-based compensation expense 26 26   26        
Repurchase of ordinary shares (in shares)         (94,000)      
Repurchase of ordinary shares (3) (3)     $ (3)      
Ending balance (in shares) at Jun. 29, 2024     227,517,000          
Ending balance at Jun. 29, 2024 $ 1,582 1,579 $ 0 1,443 $ (5,461) 132 5,465 3
Ending balance (in shares) at Jun. 29, 2024         (109,735,000)      
Beginning balance (in shares) at Mar. 29, 2025 227,672,351   227,672,000          
Beginning balance at Mar. 29, 2025 $ 372 368 $ 0 1,476 $ (5,462) 57 4,297 4
Beginning balance (in shares) at Mar. 29, 2025 (109,759,150)       (109,759,000)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net (loss) income $ 53 53         53 0
Other comprehensive loss (453) (453)       (453)    
Comprehensive loss (400) (400)           0
Vesting of restricted awards, net of forfeitures (in shares)     1,214,000          
Share-based compensation expense 16 16   16        
Repurchase of ordinary shares (in shares)         (87,000)      
Repurchase of ordinary shares $ (1) (1)     $ (1)      
Ending balance (in shares) at Jun. 28, 2025 228,886,329   228,886,000          
Ending balance at Jun. 28, 2025 $ (13) $ (17) $ 0 $ 1,492 $ (5,463) $ (396) $ 4,350 $ 4
Ending balance (in shares) at Jun. 28, 2025 (109,845,515)       (109,846,000)      
[1] Accumulated other comprehensive (loss) income.
v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Cash flows from operating activities    
Net income (loss) $ 53 $ (12)
Net loss from discontinued operations, net of tax (3) (17)
Net income from continuing operations 56 5
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Depreciation and amortization 30 32
Share-based compensation expense 14 24
Deferred income taxes (17) 5
Changes to lease related balances, net (18) (29)
Foreign currency gain (1) 0
Other non-cash adjustments 1 3
Change in assets and liabilities:    
Receivables, net 50 46
Inventories, net (55) (45)
Prepaid expenses and other current assets (16) 20
Accounts payable 15 62
Accrued expenses and other current liabilities (34) (29)
Other long-term assets and liabilities (5) (28)
Net cash provided by operating activities of continuing operations 20 66
Cash Provided by (Used in) Operating Activity, Discontinued Operation (28) 17
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation, Total (8) 83
Cash flows from investing activities    
Capital expenditures (13) (16)
Cash paid for business acquisitions, net of cash acquired 0 (9)
Net cash used in investing activities of continuing operations (13) (25)
Net cash used in investing activities of discontinued operations (6) (27)
Net cash used in investing activities (19) (52)
Cash flows from financing activities    
Debt borrowings 597 358
Debt repayments (502) (364)
Repurchase of ordinary shares (1) (3)
Net cash provided by (used in) financing activities of continuing operations 94 (9)
Net cash provided by (used in) financing activities of discontinued operations 0 0
Net cash provided by (used in) financing activities 94 (9)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (32) (5)
Net increase in cash, cash equivalents and restricted cash 35 17
Beginning of period 175 205
End of period 210 222
Supplemental disclosures of cash flow information    
Cash paid for interest 15 18
Net cash paid for income taxes 46 43
Supplemental disclosure of non-cash investing and financing activities    
Accrued capital expenditures 15 20
Summary of cash, cash equivalents and restricted cash    
Cash, cash equivalents and restricted cash of continuing operations, end of period 139 183
Cash, cash equivalents and restricted cash of discontinued operations, end of period 71 39
Cash, cash equivalents and restricted cash, end of period $ 210 $ 222
v3.25.2
Business and Basis of Presentation
 3 Months Ended
Jun. 28, 2025
Accounting Policies [Abstract]  
Business and Basis of Presentation Business and Basis of Presentation
The Company was incorporated in the British Virgin Islands on December 13, 2002 as Michael Kors Holdings Limited and changed its name to Capri Holdings Limited (“Capri”, and together with its subsidiaries, the “Company”) on December 31, 2018. The Company is a holding company that owns brands that are leading designers, marketers, distributors and retailers of branded women’s and men’s accessories, apparel and footwear bearing the Michael Kors, Jimmy Choo and Versace tradenames and related trademarks and logos. The Company operates in three reportable segments: Michael Kors, Jimmy Choo and Versace. See Note 18 for additional information regarding the Company’s segments.
On April 10, 2025, the Company and Prada S.p.A. (“Prada”) entered into a Stock Purchase Agreement (the “Purchase Agreement”) whereby Prada has agreed to acquire certain subsidiaries of the Company which operate the Company’s Versace business for an aggregate purchase price of $1.375 billion in cash, subject to certain adjustments, including for net indebtedness, working capital and transaction expenses. As a result, the Company determined that the held for sale and discontinued operations criteria have been met during the first quarter and the Company has classified the results of operations and cash flows of its Versace business as discontinued operations in its consolidated statements of operations and comprehensive income (loss) and consolidated statements of cash flows for all periods presented. The related assets and liabilities associated with the discontinued operations are classified as held for sale in the consolidated balance sheets as of June 28, 2025 and March 29, 2025. Unless otherwise noted, discussion within these notes to the consolidated interim financial statements relate to continuing operations. Refer to Note 4 - "Discontinued Operations" for further information.
The interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and include the accounts of the Company and its wholly-owned or controlled subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The interim consolidated financial statements as of June 28, 2025 and for the three months ended June 28, 2025 and June 29, 2024 are unaudited. The Company consolidates the results of its Versace business on a one-month lag, as consistent with prior periods. In addition, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The interim consolidated financial statements reflect all normal and recurring adjustments, which are, in the opinion of management, necessary for a fair presentation in conformity with U.S. GAAP. The interim consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended March 29, 2025, as filed with the Securities and Exchange Commission on May 28, 2025, in the Company’s Annual Report on Form 10-K. The results of operations for the interim periods should not be considered indicative of results to be expected for the full fiscal year.
The Company utilizes a 52- to 53-week fiscal year and the term “Fiscal Year” or “Fiscal” refers to that 52-week or 53-week period. The results for the three months ended June 28, 2025 and June 29, 2024 are based on 13-week periods. The Company’s Fiscal Year 2026 is a 52-week period ending March 28, 2026.
v3.25.2
Termination of the Merger Agreement
 3 Months Ended
Jun. 28, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Termination of the Merger Agreement Termination of the Merger Agreement
As previously disclosed, on August 10, 2023, Capri entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Tapestry, Inc., a Maryland corporation (“Tapestry”), and Sunrise Merger Sub, Inc., a British Virgin Islands business company limited by shares and a direct wholly owned subsidiary of Tapestry (“Merger Sub” and, together with Capri and Tapestry, the “Parties”).

The Merger Agreement provided that, among other things and on the terms and subject to the conditions set forth therein, Tapestry would acquire Capri in an all-cash transaction by means of a merger of Merger Sub with and into Capri (the “Merger”), with Capri surviving the Merger as a wholly owned subsidiary of Tapestry. For additional information related to the Merger Agreement, please refer to Capri’s Definitive Proxy Statement on Schedule 14A filed with the U.S. Securities and Exchange Commission (the “SEC”) on September 20, 2023, as well as the supplemental disclosures contained in Capri’s Current Report on Form 8-K filed with the SEC on October 17, 2023.

The Merger had been approved by the boards of directors of Capri and Tapestry and by the shareholders of Capri. Completion of the Merger was subject to, among other customary conditions, the expiration or termination of the applicable
waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The Company received regulatory approval from all countries except for the United States. In connection with the Merger, on April 22, 2024, the U.S. Federal Trade Commission (“FTC”) filed a lawsuit in the United States District Court for the Southern District of New York (the “District Court”) against Tapestry and the Company seeking to block the Merger, claiming that the Merger would violate Section 7 of the Clayton Act and that the Merger Agreement and the Merger constituted unfair methods of competition in violation of Section 5 of the Federal Trade Commission Act and should be enjoined. The preliminary injunction hearing concluded in September 2024, and on October 24, 2024, the District Court granted the FTC's motion for a preliminary injunction to enjoin the Merger pending the completion of the FTC's in-house administrative proceeding. On October 28, 2024, Tapestry and Capri jointly filed a notice of appeal to the U.S. Court of Appeals for the Second Circuit (the “Second Circuit”).

On November 13, 2024, the Parties entered into a Termination Agreement (the “Termination Agreement”), pursuant to which the Parties agreed to terminate the Merger Agreement, effective immediately. In connection with the termination, consistent with the Merger Agreement, Tapestry agreed to reimburse the Company approximately $45 million in cash for certain expenses on November 14, 2024. This reimbursement was recorded within selling, general and administrative expenses in the Company’s consolidated statements of operations and comprehensive income (loss). The Parties also agreed to release each other and their related parties from any and all liability, claims, rights, actions, causes of action, suits, liens, obligations, accounts, debts, demands, agreements, promises, liabilities, controversies, costs, charges, damages, expenses and fees (including attorney’s, financial advisor’s or other fees) in connection with, arising out of or related to the Merger Agreement or the transactions contemplated therein or thereby. On November 15, 2024, Capri and Tapestry stipulated to the dismissal of the appeal to the Second Circuit. On December 4, 2024, the FTC’s in-house administrative proceeding was dismissed without prejudice.
v3.25.2
Summary of Significant Accounting Policies
 3 Months Ended
Jun. 28, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Use of Estimates
The preparation of financial statements in accordance with U.S. GAAP requires management to use judgment and make estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The level of uncertainty in estimates and assumptions increases with the length of time until the underlying transactions are completed. The most significant assumptions and estimates involved in preparing the financial statements include allowances for customer deductions, sales returns, credit losses, estimates of inventory net realizable value, the valuation of deferred taxes, goodwill, intangible assets, operating lease right-of-use assets and property and equipment, along with the estimated useful lives assigned to these assets. Actual results could differ from those estimates.
Seasonality
The Company experiences certain effects of seasonality with respect to its business. The Company generally experiences greater sales during its third fiscal quarter, primarily driven by holiday season sales, and the lowest sales during its first fiscal quarter.
Cash, Cash Equivalents and Restricted Cash
All highly liquid investments with original maturities of three months or less are considered to be cash equivalents. Included in the Company’s cash and cash equivalents as of June 28, 2025 and March 29, 2025 are credit card receivables of $24 million and $20 million, respectively, which generally settle within two to three business days.
A reconciliation of cash, cash equivalents and restricted cash as of June 28, 2025 and March 29, 2025 from the consolidated balance sheets to the consolidated statements of cash flows is as follows (in millions):
 June 28,
2025		March 29,
2025
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents$129 $107 
Restricted cash included within prepaid expenses and other current assets10 9 
Total cash, cash equivalents and restricted cash shown on the consolidated statements of cash flows from continuing operations$139 $116 
Inventories
Inventories primarily consist of finished goods with the exception of raw materials and work in process. The combined total of raw materials and work in process recorded on the Company’s consolidated balance sheets was $18 million and $17 million as of June 28, 2025 and March 29, 2025, respectively.
Derivative Financial Instruments
Forward Foreign Currency Exchange Contracts
The Company uses forward foreign currency exchange contracts to manage its exposure to fluctuations in foreign currencies for certain transactions. The Company, in its normal course of business, enters into transactions with foreign suppliers and seeks to minimize risks related to these transactions. The Company employs these forward contracts to hedge the Company’s cash flows, as they relate to transactions denominated in foreign currencies. Certain of these contracts are designated as hedges for accounting purposes, while others may remain undesignated. All of the Company’s derivative instruments are recorded in the Company’s consolidated balance sheets at fair value on a gross basis, regardless of their hedge designation.
The Company designates certain contracts related to the purchase of inventory that qualify for hedge accounting as cash flow hedges. Formal hedge documentation is prepared for all derivative instruments designated as hedges, including a description of the hedged transaction, the hedging instrument and the risk being hedged. The changes in the fair value for contracts designated as cash flow hedges are recorded in equity as a component of accumulated other comprehensive (loss) income until the hedged item affects earnings. When the inventory related to forecasted inventory purchases that are being hedged is sold to a third-party, the gains or losses deferred in accumulated other comprehensive (loss) income are recognized within cost of goods sold. The Company uses regression analysis to assess effectiveness of derivative instruments that are designated as hedges, which compares the change in the fair value of the derivative instrument to the change in the related hedged item. If the hedge is no longer expected to be highly effective, future changes in the fair value are recognized in earnings. For those contracts that are not designated as hedges, changes in the fair value are recorded to foreign currency (gain) loss in the Company’s consolidated statements of operations and comprehensive income (loss). The Company classifies cash flows relating to its forward foreign currency exchange contracts related to the purchase of inventory consistently with the classification of the hedged item, within cash flows from operating activities.
The Company is exposed to the risk that counterparties to derivative contracts will fail to meet their contractual obligations. In order to mitigate counterparty credit risk, the Company only enters into contracts with carefully selected financial institutions based upon their credit ratings and certain other financial factors, adhering to established limits for credit exposure. The aforementioned forward contracts generally have a term less than 12 months. The period of these contracts is directly related to the transactions they are intended to hedge.
Net Investment Hedges
The Company also uses cross currency swap agreements to hedge its net investments in foreign operations against future volatility in the exchange rates between different currencies. The Company has elected the spot method of designating these contracts under ASU 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,” and has designated these contracts as net investment hedges. The net gain or loss on the net investment hedge is reported within foreign currency translation adjustments (“CTA”), as a component of accumulated other comprehensive (loss) income on the Company’s consolidated balance sheets. Interest accruals and coupon payments are recognized directly in interest income, net, in the Company’s consolidated statements of operations and comprehensive income (loss). Upon discontinuation of a hedge, all previously recognized amounts remain in CTA until the net investment is sold or liquidated.
Interest Rate Swap Agreements
The Company also uses interest rate swap agreements to hedge the variability of its cash flows resulting from floating interest rates on the Company’s borrowings. When an interest rate swap agreement qualifies for hedge accounting as a cash flow hedge, the changes in the fair value are recorded in equity as a component of accumulated other comprehensive (loss) income and are reclassified into interest income, net, in the same period during which the hedged transactions affect earnings.
Leases

The Company leases retail stores, office space and warehouse space under operating lease agreements that expire at various dates through September 2043. The Company’s leases generally have terms of up to ten years, generally require fixed rent payments and may require the payment of additional rent if store sales exceed a negotiated amount. Although most of the Company’s equipment is owned, the Company has limited equipment leases that expire on various dates through December 2029. The Company acts as sublessor in certain leasing arrangements, primarily related to closed stores under its restructuring initiatives. Fixed sublease payments received are recognized on a straight-line basis over the sublease term. The Company determines the sublease term based on the date it provides possession to the subtenant through the expiration date of the sublease.

The Company recognizes operating lease right-of-use assets and lease liabilities at the lease commencement date, based on the present value of fixed lease payments over the expected lease term. The Company uses its incremental borrowing rates to determine the present value of fixed lease payments based on the information available at the lease commencement date, as the rate implicit in the lease is not readily determinable for the Company’s leases. The Company’s incremental borrowing rates are based on the term of the leases, the economic environment of the leases and reflect the expected interest rate it would incur to borrow on a secured basis. Certain leases include one or more renewal options, generally for the same period as the initial term of the lease. The exercise of lease renewal options is generally at the Company’s sole discretion and as such, the Company typically determines that exercise of these renewal options is not reasonably certain. As a result, the Company generally does not include the renewal option period in the expected lease term and the associated lease payments are not included in the measurement of the operating lease right-of-use asset and lease liability. Certain leases also contain termination options with an associated penalty. Generally, the Company is reasonably certain not to exercise these options and as such, they are not included in the determination of the expected lease term. The Company recognizes operating lease expense on a straight-line basis over the lease term.

Leases with an initial lease term of 12 months or less are not recorded on the balance sheet. The Company recognizes lease expense for its short-term leases on a straight-line basis over the lease term.

The Company’s leases generally provide for payments of non-lease components, such as common area maintenance, real estate taxes and other costs associated with the leased property. The Company accounts for lease and non-lease components of its real estate leases together as a single lease component and, as such, includes fixed payments of non-lease components in the measurement of the operating lease right-of-use assets and lease liabilities for its real estate leases. Variable lease payments, such as percentage rentals based on location sales, periodic adjustments for inflation, reimbursement of real estate taxes, any variable common area maintenance and any other variable costs associated with the leased property, are expensed as incurred as variable lease costs and are not recorded on the balance sheet. The Company’s lease agreements do not contain any material residual value guarantees or material restrictions or covenants.
The following table presents the Company’s supplemental cash flow information related to leases (in millions):
Three Months Ended
June 28,
2025		June 29,
2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in operating leases
$85 $88 
During both the three months ended June 28, 2025 and June 29, 2024, the Company recorded sublease income of $2 million within selling, general and administrative expenses.
Net Income per Share
The Company’s basic net income per ordinary share is calculated by dividing net income by the weighted average number of ordinary shares outstanding during the period. Diluted net income per ordinary share reflects the potential dilution that would occur if restricted share units (“RSUs”) or any other potentially dilutive instruments, including share option grants, were converted or exercised into ordinary shares. These potentially dilutive securities are included in diluted shares to the extent they are dilutive under the treasury stock method for the applicable periods. Performance-based RSUs are included in diluted shares if the related performance conditions are considered satisfied as of the end of the reporting period and to the extent they are dilutive under the treasury stock method.
The components of the calculation of basic net income per ordinary share and diluted net income per ordinary share are as follows (in millions, except share and per share data):
 Three Months Ended
June 28,
2025		June 29,
2024
Numerator:
Net income from continuing operations$56 $5 
Less: Net income attributable to noncontrolling interest from continuing operations— 2 
Net income attributable to Capri from continuing operations$56 $3 
Net loss from discontinued operations, net of tax$(3)$(17)
Less: Net income attributable to noncontrolling interest from discontinued operations— — 
Net (loss) attributable to Capri from discontinued operations(3)(17)
Net income (loss) attributable to Capri$53 $(14)
Denominator:
Basic weighted average shares118,799,819 117,440,282 
Weighted average dilutive share equivalents:
Share options, restricted stock units, and performance restricted stock units307,844 816,135 
Diluted weighted average shares119,107,663 118,256,417 
Net income (loss) per ordinary share attributable to Capri:
Basic from continuing operations$0.47 $0.03 
Basic from discontinued operations(0.03)(0.14)
Basic per ordinary share (1)
$0.44 $(0.11)
Diluted from continuing operations$0.47 $0.03 
Diluted from discontinued operations(0.03)(0.15)
Diluted per ordinary share (1)
$0.44 $(0.12)
(1)Basic and diluted per share amounts are calculated using unrounded numbers.

During the three months ended June 28, 2025, share equivalents of 2,689,897 shares have been excluded from the above calculations due to their anti-dilutive effect. Share equivalents of 222,497 shares have been excluded from the above calculations for the three months ended June 29, 2024 due to their anti-dilutive effect.
See Note 3 in the Company’s Annual Report on Form 10-K for the fiscal year ended March 29, 2025 for a complete disclosure of the Company’s significant accounting policies.
Recently Issued Accounting Pronouncements
The Company has considered all new accounting pronouncements and, other than the recent pronouncements discussed below, has concluded that there are no new pronouncements that may have a material impact on the Company’s results of operations, financial condition or cash flows based on current information.
Income Taxes
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, to enhance transparency and decision usefulness of income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. The Company will adopt the update on a prospective basis beginning with disclosure in its Fiscal 2026 annual consolidated financial statements.
Comprehensive Income
In November 2024, the FASB issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)”, which requires public entities to disaggregate specific types of expenses, including disclosures for purchases of inventory, employee compensation, depreciation, and intangible asset amortization, as well as selling expenses. ASU 2024-03 is effective for annual periods beginning after December 15, 2026. Interim disclosures are required for periods within annual periods beginning after December 15, 2027. Prospective application is required, and retrospective application is permitted. Early adoption is also permitted. We are currently assessing the impact of the requirements on the Company’s consolidated financial statements and disclosures.
Tax Legislation
On December 12, 2022, the European Union member states reached an agreement to implement the OECD’s reform of international taxation known as Pillar Two Global Anti-Base Erosion ("GloBE") Rules, which broadly mirrors certain provisions of the Inflation Reduction Act by imposing a 15% global minimum tax on multinational companies. GloBE became effective for the Company during Fiscal 2025. Based upon the Company’s analysis, the Pillar Two initiatives are not projected to have a material impact on the Company’s consolidated financial statements.
On January 10, 2025, the United States Treasury and the IRS issued final regulations that address several long-standing issues related to dual consolidated losses and introduce new rules for disregarded payment losses. The changes related to disregarded payment losses could impact how the Company utilizes certain deductions and losses to offset its U.S. income as part of its global financing activities, beginning in Fiscal 2027. The Company will continue to evaluate its impact as further information becomes available.
On July 4, 2025, the U.S. government enacted the One Big Beautiful Bill Act of 2025 which includes, among other provisions, changes to the U.S. corporate income tax system including the allowance of immediate expensing of qualifying research and development expenses and permanent extensions of certain provisions within the Tax Cuts and Jobs Act. The Company is evaluating the future impact of these tax law changes on its consolidated financial statements.
v3.25.2
Discontinued Operations
 3 Months Ended
Jun. 28, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations Discontinued Operations
On April 10, 2025, the Company and Prada entered into a Purchase Agreement whereby Prada has agreed to acquire certain subsidiaries of the Company which operate the Company’s Versace business for an aggregate purchase price of $1.375 billion in cash, subject to certain adjustments, including for net indebtedness, working capital and transaction expenses. The sale is anticipated to close in the second half of calendar 2025, subject to customary closing conditions.
The Company determined that the sale of the Versace business represented a strategic shift and the Company concluded that it met the held-for-sale and discontinued operations accounting criteria during the first quarter of Fiscal 2026. Accordingly, the Company is separately reporting the results of the Versace business as discontinued operations in its consolidated statements of operations and presenting the related assets and liabilities as held for sale in its consolidated balance sheets. These changes have been applied to all periods presented. Cash flows from the Company’s discontinued operations are presented as such in the consolidated statements of cash flows for all periods presented.
Additionally, beginning April 10, 2025, in accordance with ASC 360, Property, Plant and Equipment, the Company is no longer depreciating or amortizing Versace’s long-lived tangible and intangible assets or operating lease right-of-use assets.
The following table represents the carrying amounts of the major classes of assets and liabilities classified as held for sale in the consolidated balance sheets as of June 28, 2025 and March 29, 2025 (in millions):
June 28,
2025		March 29,
2025
Cash and cash equivalents$71 $59 
Receivables, net64 62 
Inventories, net194 168 
Prepaid expenses and other current assets55 53 
Current assets held for sale384 342 
Property and equipment, net120 120 
Operating lease right-of-use assets418 388 
Intangible assets, net579 534 
Goodwill529 489 
Other assets61 63 
Noncurrent assets held for sale1,707 1,594 
Total assets held for sale$2,091 $1,936 
Accounts payable$117 $106 
Accrued payroll and payroll related expenses35 28 
Accrued income taxes3 2 
Short-term operating lease liabilities106 101 
Accrued expenses and other current liabilities78 67 
Current liabilities held for sale339 304 
Long-term operating lease liabilities445 439 
Deferred tax liabilities114 106 
Long-term debt11 10 
Other long-term liabilities18 20 
Noncurrent liabilities held for sale588 575 
Total liabilities held for sale$927 $879 
The operating results of the discontinued operations of the Versace business only reflect revenues and expenses that are directly attributable to the Versace business that will be eliminated from continuing operations. Discontinued operations do not include any allocation of corporate overhead expense. The following table presents the major components of discontinued operations, net of income taxes, in the Company’s consolidated statements of operations and comprehensive income (loss):
Three Months Ended
June 28,
2025		June 29,
2024
Total revenue$183 $219 
Cost of goods sold50 65 
Selling, general and administrative expenses137 158 
Depreciation and amortization4 15 
Restructuring and other expense3 — 
Other income, net1 — 
Foreign currency (gain) loss(9)1 
Loss from discontinued operations before income taxes(3)(20)
Benefit for income taxes— (3)
Net loss from discontinued operations, net of tax$(3)$(17)
v3.25.2
Revenue Recognition
 3 Months Ended
Jun. 28, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
The Company accounts for contracts with its customers when there is approval and commitment from both parties, the rights of the parties and payment terms have been identified, the contract has commercial substance and collectability of consideration is probable. Revenue is recognized when control of the promised goods or services is transferred to the Company’s customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for goods or services.
The Company sells its products through three primary channels of distribution: retail, wholesale and licensing. Within the retail and wholesale channels, substantially all of the Company’s revenues consist of sales of products that represent a single performance obligation where control transfers at a point in time to the customer. For licensing arrangements, royalty and advertising revenue is recognized over time based on access provided to the Company’s brands.
The Company has chosen to apply the practical expedient allowing it not to disclose the amount of the transaction price allocated to remaining performance obligations that have an expected duration of 12 months or less.
Retail
The Company generates sales through directly operated stores and e-commerce sites throughout the Americas (United States, Canada and Latin America), certain parts of EMEA (Europe, Middle East and Africa) and certain parts of Asia (Asia and Oceania). Retail revenue is recognized when control of the product is transferred at the point of sale at Company owned stores, including concessions. For e-commerce transactions, control is transferred and revenue is recognized when products are delivered to the customer. To arrive at net sales for retail, gross sales are reduced by actual customer returns, as well as by a provision for estimated future customer returns.
Sales tax collected from retail customers are presented on a net basis and, as such, are excluded from revenue. Shipping and handling costs that are billed to customers are included in net sales, with the related costs recorded in cost of goods sold. Shipping and handling costs that are not billed to customers are accounted for as fulfillment costs.
Gift Cards. The Company sells gift cards that can be redeemed for merchandise, resulting in a contract liability upon issuance. Revenue is recognized when a gift card is redeemed or upon “breakage” for the estimated portion of gift cards that are not expected to be redeemed. “Breakage” revenue is calculated under the proportional redemption methodology, which considers the historical patterns of redemption in jurisdictions where the Company is not required to remit the value of the unredeemed gift cards as unclaimed property. The Company anticipates that substantially all of its outstanding gift cards will be redeemed within the next 12 months. The contract liability related to gift and retail store credits, net of estimated “breakage”
was $10 million as of both June 28, 2025 and March 29, 2025 and is included in accrued expenses and other current liabilities in the Company’s consolidated balance sheets.
Loyalty Program. The Company offers a loyalty program, which allows its Michael Kors North America customers to earn points on qualifying purchases toward monetary and non-monetary rewards, which may be redeemed for purchases at Michael Kors retail stores and e-commerce sites. The Company defers a portion of the initial sales transaction based on the estimated relative fair value of the benefits based on projected timing of future redemptions and historical activity. These amounts include estimated “breakage” for points that are not expected to be redeemed.
Wholesale
The Company’s products are sold primarily to major department stores, specialty stores and travel retail shops throughout the Americas, EMEA and Asia. The Company also has arrangements where its products are sold to geographic licensees in certain parts of EMEA, Asia and South America. Wholesale revenue is recognized net of estimates for sales returns, discounts, markdowns and allowances, when merchandise is shipped and control of the underlying product is transferred to the Company’s wholesale customers. To arrive at net sales for wholesale, gross sales are reduced by provisions for estimated future returns, as well as trade discounts, markdowns, allowances, operational chargebacks and certain cooperative selling expenses. These estimates are developed based on historical trends, actual and forecasted performance and market conditions, and are reviewed by management on a quarterly basis. Unfulfilled, non-cancelable purchase orders for products from wholesale customers (including the Company’s geographic licensees) are expected to be fulfilled within the next 12 months.
Licensing
The Company provides its third-party licensees with the right to access its Michael Kors and Jimmy Choo trademarks under product and geographic licensing arrangements. Under product licensing arrangements, the Company allows third-parties to manufacture and sell luxury goods, including watches and jewelry, fragrances, eyewear and home furnishings, using the Company’s trademarks. Under geographic licensing arrangements, third party licensees receive the right to distribute and sell products bearing the Company’s trademarks in retail and/or wholesale channels within certain geographical areas, including Brazil, the Middle East, Eastern Europe, South Africa and certain parts of Asia.
The Company recognizes royalty revenue and advertising contributions based on the percentage of sales made by the licensees. Advertising contributions are received to support the Company’s branded advertising and marketing campaigns and are viewed as part of a single performance obligation with the right to access the Company’s trademarks. Royalty revenue generated from licensees, which includes contributions for advertising, may be subject to contractual minimum levels, as defined in the contract. Such minimums are generally fixed annually, based on the previous year’s sales. Licensing revenue is based on reported current period sales of licensed products at rates that are specified in the license agreements for contracts that are expected to exceed the related guaranteed minimums. If the Company expects the minimum guaranteed amounts to exceed amounts calculated based on actual sales, the guaranteed minimums are recognized ratably over the contractual year to which they relate. The Company’s guaranteed minimum royalty amounts due from licensees relate to contractual periods that do not exceed 12 months.
Sales Returns
The refund liability recorded as of June 28, 2025 was $27 million, and the related asset for the right to recover returned product as of June 28, 2025 was $6 million. The refund liability recorded as of March 29, 2025 was $25 million, and the related asset for the right to recover returned product as of March 29, 2025 was $6 million.
Contract Balances
Total contract liabilities were $16 million and $14 million as of June 28, 2025 and March 29, 2025, respectively. For the three months ended June 28, 2025, the Company recognized $10 million in revenue relating to contract liabilities that existed at March 29, 2025. For the three months ended June 29, 2024, the Company recognized $8 million in revenue which related to contract liabilities that existed at March 30, 2024. There were no material contract assets recorded as of June 28, 2025 and March 29, 2025.
There were no changes in historical variable consideration estimates that were materially different from actual results.
Disaggregation of Revenue
The following table presents the Company’s segment revenue disaggregated by geographic location (in millions):
 Three Months Ended
 June 28,
2025		June 29,
2024
Michael Kors - the Americas$413 $451 
Michael Kors - EMEA150 138 
Michael Kors - Asia72 86 
 Total Michael Kors revenue635 675 
Jimmy Choo - the Americas46 52 
Jimmy Choo - EMEA78 77 
Jimmy Choo - Asia38 44 
Total Jimmy Choo revenue162 173 
Total - the Americas459 503 
Total - EMEA228 215 
Total - Asia110 130 
Total revenue$797 $848 
See Note 4 in the Company’s Annual Report on Form 10-K for the fiscal year ended March 29, 2025 for a complete disclosure of the Company’s revenue recognition policy.
v3.25.2
Receivables, net
 3 Months Ended
Jun. 28, 2025
Receivables [Abstract]  
Receivables, net Receivables, net
Receivables, net, consist of (in millions):
June 28,
2025		March 29,
2025
Trade receivables (1)
$203 $237 
Receivables due from licensees14 20 
217 257 
Less: allowances(46)(42)
Total receivables, net$171 $215 
(1)As of June 28, 2025 and March 29, 2025, $59 million and $55 million, respectively, of trade receivables were insured.
Receivables are presented net of allowances for discounts, markdowns, operational chargebacks and credit losses. Discounts are based on open invoices where trade discounts have been extended to customers. Markdowns are based on wholesale customers’ sales performance, seasonal negotiations with customers, historical deduction trends and an evaluation of current market conditions. Operational chargebacks are based on deductions taken by customers, net of expected recoveries. Such provisions, and related recoveries, are reflected in revenues.
The Company’s allowance for credit losses is determined through analysis of periodic aging of receivables and assessments of collectability based on an evaluation of historic and anticipated trends, the financial condition of the Company’s customers and the impact of general economic conditions. The past due status of a receivable is based on its contractual terms. Amounts deemed uncollectible are written off against the allowance when it is probable the amounts will not be recovered. Allowance for credit losses was $14 million and $13 million as of June 28, 2025 and March 29, 2025, respectively. The Company had immaterial credit losses for the three months ended June 28, 2025 and credit losses of $1 million for the three months ended June 29, 2024
v3.25.2
Property and Equipment, net
 3 Months Ended
Jun. 28, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, net Property and Equipment, net
Property and equipment, net, consists of (in millions):
June 28,
2025		March 29,
2025
Leasehold improvements$418 $408 
Computer equipment and software297 284 
Furniture and fixtures162 153 
Equipment109 104 
Building62 57 
In-store shops27 26 
Land19 18 
Total property and equipment, gross1,094 1,050 
Less: accumulated depreciation and amortization(713)(675)
Subtotal381 375 
Construction-in-progress19 18 
Total property and equipment, net$400 $393 
Depreciation and amortization of property and equipment for the three months ended June 28, 2025 was $23 million. Depreciation and amortization of property and equipment for the three months ended June 29, 2024 was $26 million. The Company did not record any property and equipment impairment charges for the three months ended June 28, 2025 and June 29, 2024.
v3.25.2
Intangible Assets and Goodwill
 3 Months Ended
Jun. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill Intangible Assets and Goodwill
The following table details the carrying values of the Company’s intangible assets and goodwill (in millions):
June 28,
2025		March 29,
2025
Definite-lived intangible assets:
Reacquired rights $400 $400 
Trademarks23 23 
Customer relationships (1)
227 214 
Gross definite-lived intangible assets650 637 
Less: accumulated amortization(272)(259)
Net definite-lived intangible assets378 378 
Indefinite-lived intangible assets:
Jimmy Choo brand (2)
217 204 
Net indefinite-lived intangible assets217 204 
Intangible assets, net$595 $582 
Goodwill (3)
$204 $199 
(1)The change in the carrying value since March 29, 2025 reflects the impact of foreign currency translation adjustments.
(2)The change in the carrying value since March 29, 2025 reflects the impact of foreign currency translation adjustments. As of June 28, 2025 and March 29, 2025, the Company had accumulated impairment charges of $358 million related to its Jimmy Choo brand intangible assets.
(3)Includes accumulated impairment of $605 million related to the Jimmy Choo reporting units as of June 28, 2025 and March 29, 2025.
Amortization expense for the Company’s definite-lived intangible assets was $7 million for the three months ended June 28, 2025. Amortization expense for the Company’s definite-lived intangible assets was $6 million for the three months ended June 29, 2024.
v3.25.2
Other Current Assets and Other Current Liabilities
 3 Months Ended
Jun. 28, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other Current Assets and Other Current Liabilities Other Current Assets and Other Current Liabilities
Prepaid expenses and other current assets consist of the following (in millions):
June 28,
2025		March 29,
2025
Prepaid taxes$96 $65 
Interest receivable related to hedges17 36 
Prepaid contracts17 20 
Restricted cash10 9 
Other accounts receivables5 8 
Other31 18 
Total prepaid expenses and other current assets$176 $156 

Accrued expenses and other current liabilities consist of the following (in millions):
June 28,
2025		March 29,
2025
Short-term derivative liability$52 $14 
Other taxes payable27 32 
Return liabilities27 25 
Accrued advertising and marketing25 28 
Accrued purchases and samples19 21 
Accrued rent (1)
19 16 
Accrued e-commerce16 15 
Professional services14 16 
Accrued capital expenditures11 9 
Retail store expense accrual11 15 
Gift and retail store credits10 10 
Accrued interest5 6 
Other29 26 
Total accrued expenses and other current liabilities$265 $233 
(1)The accrued rent balance relates to variable lease payments.
v3.25.2
Restructuring and Other Expense
 3 Months Ended
Jun. 28, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Other Expense Restructuring and Other Expense
Restructuring Charges - Global Optimization Plan
As previously announced during the fourth quarter of Fiscal 2024, the Board of Directors of the Company approved a Global Optimization Plan in order to streamline the Company’s operating model, maximize efficiency and support long-term profitable growth.
During the three months ended June 28, 2025 and June 29, 2024, the Company closed 15 and 11 of its retail stores, respectively, which have been incorporated into the Global Optimization Plan. Net restructuring charges recorded in connection with the Global Optimization Plan during both the three months ended June 28, 2025 and June 29, 2024 were $1 million, respectively, primarily related to severance and store closure costs, partially offset by gains on lease terminations. The below table presents a roll forward of the Company’s restructuring liability related to its Global Optimization Plan (in millions):
Severance and benefit costsLease-related and other costsTotal
Balance at March 29, 2025
$4 $— $4 
Additions charged to expense
3 — 
(1)
3 
Payments(5)— (5)
Balance at June 28, 2025
$2 $— $2 
(1)Excludes $2 million of gains on lease terminations and store closure costs related to operating lease right-of-use assets recorded within restructuring and other expense on the consolidated statements of operations and comprehensive income (loss) for the three months ended June 28, 2025.
v3.25.2
Debt Obligations
 3 Months Ended
Jun. 28, 2025
Debt Disclosure [Abstract]  
Debt Obligations Debt Obligations
The following table presents the Company’s debt obligations (in millions):
June 28,
2025		March 29,
2025
Revolving Credit Facilities$912 $755 
2025 Term Loans738 712 
Other27 29 
Total debt 1,677 1,496 
Less: Unamortized debt issuance costs6 6 
Total carrying value of debt1,671 1,490 
Less: Short-term debt
21 24 
Total long-term debt
$1,650 $1,466 
Senior Revolving Credit Facility
On February 4, 2025 (the “Closing Date”), the Company entered into the Amended and Restated Credit Agreement with, among others, JPMorgan Chase Bank, N.A., as administrative agent, which amended and restated the Company’s existing credit agreement, dated as of July 1, 2022 (as previously amended, the “Existing Credit Agreement”). The Amended and Restated Credit Agreement provides for senior secured credit facilities in the aggregate principal amount of the United States dollar equivalent of $2.2 billion (the “2025 Credit Facilities”), under which the Company, a U.S. subsidiary of the Company, a Canadian subsidiary of the Company and a Swiss subsidiary of the Company are borrowers, and which will be guaranteed by the borrowers and certain other subsidiaries of the Company (the “Guarantees”). The 2025 Credit Facilities mature on July 1, 2027.
Pursuant to the Amended and Restated Credit Agreement, the obligations under the 2025 Credit Facilities are secured by liens on substantially all of the assets of the Company and its U.S. subsidiaries that are borrowers and guarantors, excluding real property and other customary exceptions, and substantially all of the registered intellectual property of the Company and its subsidiaries. With respect to certain non-ordinary course asset sales, the Company may elect to reinvest the net cash proceeds from such sales in the business of the Company and its subsidiaries, and to the extent it does not do so, the Company is required to apply such net cash proceeds to prepay the 2025 Term Loans, subject to certain thresholds and exceptions. The 2025 Term Loans are also required to be prepaid with the net cash proceeds of any indebtedness for borrowed money that is not permitted under the Amended and Restated Credit Agreement, as well as from certain equity issuances by the Company.
The 2025 Credit Facilities are comprised of (i) a new $700 million senior secured term loan facility comprised of (a) a $392 million tranche of term loans in United States dollars (the “USD Term Loans”), which was fully drawn by Michael Kors (USA), Inc. on the Closing Date, and (b) a tranche of term loans in Euros in an amount equal to the Euro equivalent of $320 million, or €296 million, at the time of closing (the “Euro Term Loans,” and together with the USD Term Loans, the “2025 Term Loans”), which were fully drawn by Michael Kors (Switzerland) GmbH on the Closing Date, and (ii) the existing $1.5 billion revolving credit facility (the “2022 Credit Facility”) as provided under the Existing Credit Agreement, which may be denominated in United States dollars and other currencies, including Euros, Canadian Dollars, Pounds Sterling, Japanese Yen and Swiss Francs, and which includes sub-facilities for the issuance of letters of credit up to $125 million and swing line loans at the administrative agent’s discretion of up to $100 million.
The 2025 Credit Facilities provide for an annual administration fee and the Revolving Credit Facility provides for an unused commitment fee equal to 7.5 basis points to 17.5 basis points per annum, based on the Company’s public debt ratings and/or net leverage ratio, applied to the average daily unused amount of the 2022 Credit Facility, which was 15.0 basis points as of June 28, 2025. Loans under the 2025 Credit Facilities may be prepaid and commitments may be terminated or reduced by the borrowers without premium or penalty other than customary “breakage” costs.
The 2025 Credit Facilities also permit certain working capital facilities between the Company or any of its subsidiaries, on the one hand, and a lender or an affiliate of a lender under the 2025 Credit Facilities, on the other, to be guaranteed under the Guarantees, and permit certain swap obligations and banking services obligations owing to, supply chain financings with, and up to $100 million outstanding principal amount of bilateral letters of credit and bank guarantees issued by, a lender or an affiliate of a lender to be guaranteed and secured under the Guarantees and collateral documents.
The Amended and Restated Credit Agreement continues to require the Company to maintain a net leverage ratio as of the end of each fiscal quarter of no greater than 4.0 to 1; provided, that on no more than two occasions, if the Company consummates a material acquisition, the Company may elect to increase the covenant level to 4.5 to 1 for the four fiscal quarter period commencing with the fiscal quarter in which such material acquisition is consummated. Such net leverage ratio is calculated as the ratio of the sum of total indebtedness, plus the capitalized amount of all operating lease obligations, as of the date of the measurement, minus unrestricted cash and cash equivalents not to exceed $200 million, to Consolidated EBITDAR. The Amended and Restated Credit Agreement also includes customary covenants that limit additional indebtedness, liens, acquisitions and other investments, dispositions, restricted payments and affiliate transactions. The Amended and Restated Credit Agreement contains events of default customary for financings of this type, including, but not limited to, payment defaults, material inaccuracy of representations and warranties, covenant defaults, cross-defaults to certain indebtedness, certain events of bankruptcy or insolvency, certain events under the Employee Retirement Income Security Act, material judgments, actual or asserted failure of any guaranty or collateral document supporting the 2025 Credit Facilities to be in full force and effect, and changes of control. If such an event of default occurs and is continuing, the lenders under the 2025 Credit Facilities would be entitled to take various actions, including, but not limited to, terminating the commitments and accelerating amounts outstanding under the 2025 Credit Facilities and exercising remedies against collateral.
The Company had $912 million and $755 million of borrowings outstanding under the 2022 Revolving Credit Facility as of June 28, 2025 and March 29, 2025, respectively. In addition, stand-by letters of credit of $2 million and $1 million were outstanding as of June 28, 2025 and March 29, 2025, respectively. As of June 28, 2025 and March 29, 2025, the amount available for future borrowings under the 2022 Revolving Credit Facility was $586 million and $744 million, respectively.
The Company had $3 million of deferred financing fees related to the 2022 Revolving Credit Facility as of June 28, 2025 and March 29, 2025 and are recorded within other assets in the Company’s consolidated balance sheets.
As of June 28, 2025, the carrying value of borrowings outstanding under the 2025 Term Loans was $732 million, net of debt issuance costs of $6 million, and are recorded within long-term debt in the Company's consolidated balance sheets.
As of June 28, 2025, and the date these financial statements were issued, the Company was in compliance with all covenants related to the 2025 Credit Facilities.
Supplier Financing Program
The Company offers a supplier financing program which enables the Company’s inventory suppliers, at their sole discretion, to sell their receivables (i.e., the Company’s payment obligations to suppliers) to a financial institution on a non-recourse basis in order to be paid earlier than current payment terms provide. The Company’s obligations, including the amount due and scheduled payment dates, which generally do not exceed 90 days, are not impacted by a suppliers’ decision to participate in this program. The Company does not reimburse suppliers for any costs they incur to participate in the program and their participation is voluntary. The amount outstanding under this program as of June 28, 2025 and March 29, 2025 was $21 million and $24 million, respectively, and is presented as short-term debt on the Company’s consolidated balance sheets.
See Note 12 to the Company’s Fiscal 2025 Annual Report on Form 10-K for additional information regarding the Company’s credit facilities and debt obligations.
v3.25.2
Commitments and Contingencies
 3 Months Ended
Jun. 28, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
The Company is involved in various routine legal proceedings incident to the ordinary course of its business. The Company believes that the outcome of all pending, routine legal proceedings, in the aggregate, will not have a material adverse effect on its business, results of operations and financial condition.
See the matters in Item 1. Legal Proceedings to the accompanying Part II Other Information for additional information on certain non-routine legal proceedings against the Company which may be material.
Please also refer to the Contractual Obligations and Commercial Commitments disclosure within the Liquidity and Capital Resources section of the Company’s Annual Report on Form 10-K for the fiscal year ended March 29, 2025 for a detailed disclosure of other commitments and contractual obligations as of March 29, 2025.
v3.25.2
Fair Value Measurements
 3 Months Ended
Jun. 28, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Financial assets and liabilities are measured at fair value using the three-level valuation hierarchy for disclosure of fair value measurements. The determination of the applicable level within the hierarchy of a particular asset or liability depends on the inputs used in the valuation as of the measurement date, notably the extent to which the inputs are market-based (observable) or internally derived (unobservable). Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from independent sources. Unobservable inputs are inputs based on a company’s own assumptions about market participant assumptions based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the reliability of inputs as follows:
Level 1 – Valuations based on quoted prices in active markets for identical assets or liabilities that a company has the ability to access at the measurement date.
Level 2 – Valuations based on quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability and inputs derived principally from or corroborated by observable market data.
Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

At June 28, 2025 and March 29, 2025, the fair values of the Company’s derivative contracts were determined using broker quotations, which were calculations derived from observable market information: the applicable currency rates at the balance sheet date and those forward rates particular to the contract at inception. The Company makes no adjustments to these broker obtained quotes or prices, but assesses the credit risk of the counterparty and would adjust the provided valuations for counterparty credit risk when appropriate. The fair value of the Company’s derivative instruments are included in prepaid expenses and other current assets, other assets, accrued expenses and other current liabilities and in other long-term liabilities on the consolidated balance sheets depending on whether they represent assets or liabilities of the Company and based on the maturity date of each individual hedge contract. See Note 14 for further detail.
All contracts are measured and recorded at fair value on a recurring basis and are categorized in Level 2 of the fair value hierarchy, as shown in the following table (in millions):
 
Fair value at June 28, 2025 using:
Fair value at March 29, 2025 using:
 Quoted prices in
active markets for
identical assets
(Level 1)		Significant
other observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)		Quoted prices in
active markets for
identical assets
(Level 1)		Significant
other observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)
Derivative liabilities:
Forward foreign currency exchange contracts
$— $6 $— $— $2 $— 
Net investment hedges— 874 — — 289 — 
Total derivative liabilities$— $880 $— $— $291 $— 
The Company’s debt obligations are recorded on its consolidated balance sheets at carrying values, which may differ from the related fair values. The fair value of the Company’s debt is estimated using external pricing data, including any available quoted market prices and based on other debt instruments with similar characteristics. Borrowings under revolving credit facilities, if outstanding, are recorded at carrying value, which approximates fair value due to the frequent nature of such borrowings and repayments. See Note 11 for detailed information related to carrying values of the Company’s outstanding debt. The following table summarizes the carrying values and estimated fair values of the Company’s debt, based on Level 2 measurements (in millions):
June 28, 2025March 29, 2025
Carrying
Value		Estimated
Fair Value 		Carrying
Value		Estimated
Fair Value
Revolving Credit Facilities$912 $912 $755 $755 
2025 Term Loans$732 $730 $706 $699 
The Company’s cash and cash equivalents, accounts receivable and accounts payable are recorded at carrying value, which approximates fair value.
Non-Financial Assets and Liabilities
The Company’s non-financial assets include goodwill, intangible assets, operating lease right-of-use assets and property and equipment. Such assets are reported at their carrying values and are not subject to recurring fair value measurements. The Company’s goodwill and its indefinite-lived intangible assets are assessed for impairment at least annually, while its other long-lived assets, including operating lease right-of-use assets, property and equipment and definite-lived intangible assets, are assessed for impairment whenever events or changes in circumstances indicate that the carrying amount of any such asset may not be recoverable. The Company determines the fair values of these assets based on Level 3 measurements using the Company’s best estimates of the amount and timing of future discounted cash flows, based on historical experience, market conditions, current trends and performance expectations.
The Company recorded no impairment charges during the three months ended June 28, 2025 and June 29, 2024, respectively.
v3.25.2
Derivative Financial Instruments
 3 Months Ended
Jun. 28, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
Forward Foreign Currency Exchange Contracts
The Company uses forward foreign currency exchange contracts to manage its exposure to fluctuations in foreign currencies for certain of its transactions. The Company, in its normal course of business, enters into transactions with foreign suppliers and seeks to minimize risks related to certain forecasted inventory purchases by using forward foreign currency exchange contracts.
As of March 29, 2025, the Company had $50 million of EUR/USD forward contracts outstanding. During the first quarter of Fiscal 2026, the Company entered into multiple EUR/USD forward contracts with total notional amounts of $29 million. As of June 28, 2025, the Company had $79 million of forward foreign currency exchange contracts outstanding.
Changes in the fair value of the Company’s forward foreign currency exchange contracts that are designated as accounting hedges are recorded in equity as a component of accumulated other comprehensive (loss) income and are reclassified from accumulated other comprehensive (loss) income into earnings when the items underlying the hedged transactions are recognized into earnings, as a component of cost of goods sold within the Company’s consolidated statements of operations and comprehensive income (loss).
Net Investment Hedges
As of March 29, 2025, the Company had $3.5 billion of hedges outstanding to hedge its net investment in Swiss Franc (“CHF”) denominated subsidiaries, of which the Company will exchange monthly and semi-annual fixed rate payments on United States dollar notional amounts for fixed rate payments of 0.0% in CHF. During the first quarter of Fiscal 2026, the Company modified multiple fixed-to-fixed cross-currency swap agreements with aggregate notional amounts of $950 million, of which the Company will exchange monthly fixed rate payments on United States dollar notional amounts for fixed rate
payments of 0.0% in CHF. As of June 28, 2025, the Company had $3.5 billion of outstanding hedges to hedge its net investment in CHF denominated subsidiaries. These contracts have maturity dates between September 2025 and May 2045 and are designated as net investment hedges.
Certain of these contracts are supported by a credit support annex (“CSA”) which provides for collateral exchange with the earliest effective date being June 2030. If the fair value of a derivative contract exceeds a certain threshold governed by the aforementioned CSAs, either party is required to post cash collateral.
As of June 28, 2025 and March 29, 2025, the Company had $2.364 billion of fixed-to-fixed cross-currency hedges outstanding related to its net investment in Euro denominated subsidiaries, of which the Company will exchange monthly fixed rate payments on United States dollar notional amounts for fixed rate payments of 0.0% in EUR. These contracts have maturity dates between January 2027 and July 2031 and have been designated as net investment hedges.
When a cross-currency swap is used as a hedging instrument in a net investment hedge assessed under the spot method, the cross-currency basis spread is excluded from the assessment of hedge effectiveness and is recognized as a reduction in interest expense in the Company’s consolidated statements of operations and comprehensive income (loss). Accordingly, the Company recorded interest income of $36 million and $24 million during the three months ended June 28, 2025 and June 29, 2024, respectively.
The net gains or losses on net investment hedges are reported within CTA as a component of accumulated other comprehensive (loss) income on the Company’s consolidated balance sheets. Upon discontinuation of the hedge, such amounts remain in CTA until the related net investment is sold or liquidated.
Interest Rate Swaps
During the second quarter of Fiscal 2025, the Company entered into multiple interest rate swaps with aggregate notional amounts of €800 million. The swaps were designed to mitigate the impact of adverse interest rate fluctuations for a portion of the Company’s variable rate debt. €500 million of the total interest rate swaps entered into relate to the Company’s Senior Revolving Credit Facility expiring July 2027. The remaining €300 million of the interest rate swaps entered into related to the Company’s previously outstanding Versace Term Loan. During the fourth quarter of Fiscal 2025, the Company terminated these interest rate swaps to coincide with the Company’s debt refinancing and paid $13 million. As of June 28, 2025 and March 29, 2025, the Company did not have any interest rate swap agreements outstanding.

When an interest rate swap agreement qualifies for hedge accounting as a cash flow hedge, the changes in the fair value are recorded in equity as a component of accumulated other comprehensive (loss) income and are reclassified into interest income, net, in the same period in which the hedged transactions affect earnings. During the three months ended June 28, 2025, the Company recognized $2 million of interest expense related to amortization of the fair value previously recorded as a component of accumulated other comprehensive (loss) income related to the terminated interest rate swaps. As of June 29, 2024, the Company did not have interest income related to interest rate swap agreements as they were entered into during the second quarter of Fiscal 2025.
The Company only enters into derivative instruments with highly credit-rated counterparties and does not enter into derivative contracts for trading or speculative purposes.
The following table details the fair value of the Company’s derivative contracts, which are recorded on a gross basis in the consolidated balance sheets as of June 28, 2025 and March 29, 2025 (in millions):
Fair Value
 Notional AmountsAssetsLiabilities
 June 28,
2025		March 29,
2025		June 28,
2025		March 29,
2025		June 28,
2025		March 29,
2025
Designated forward foreign currency exchange contracts$79 $50 $— $— $6 
(1)
$2 
(1)
Designated net investment hedges5,864 5,864 — — 874 
(2)
289 
(2)
Total$5,943 $5,914 $— $— $880 $291 
(1)Recorded within accrued expenses and other current liabilities on the Company’s consolidated balance sheets.
(2)As of June 28, 2025, the Company recorded $46 million within accrued expenses and other current liabilities and $828 million within other long-term liabilities on the Company’s consolidated balance sheets. As of March 29, 2025, the Company recorded $12 million within accrued expenses and other current liabilities and $277 million within other long-term liabilities on the Company’s consolidated balance sheets.
The Company records and presents the fair value of all of its derivative assets and liabilities on its consolidated balance sheets on a gross basis, as shown in the above table. However, if the Company were to offset and record the asset and liability balances for its derivative instruments on a net basis in accordance with the terms of its master netting arrangements, which provide for the right to set-off amounts for similar transactions denominated in the same currencies and with the same banks, the resulting impact as of June 28, 2025 and March 29, 2025 would be as follows (in millions):
Forward Currency
Exchange Contracts		Net Investment Hedges
June 28,
2025		March 29,
2025		June 28,
2025		March 29,
2025
Liabilities subject to master netting arrangements
$6 $2 $874 $289 
Derivative liabilities, net$6 $2 $874 $289 
Currently, the Company’s master netting arrangements do not require cash collateral to be pledged by the Company or its counterparties.
The following table summarizes the pre-tax impact of the losses on the Company’s designated net investment hedges (in millions):
Three Months Ended
June 28, 2025June 29, 2024
Pre-Tax Losses
Recognized in OCI		Pre-Tax Losses
Recognized in OCI
Designated net investment hedges$(585)$(26)
For the three months ended June 28, 2025 and June 29, 2024, there was no pre-tax activity recorded within the consolidated statements of operations and comprehensive income (loss) related to designated forward foreign currency exchange contracts.
v3.25.2
Shareholders' Equity
 3 Months Ended
Jun. 28, 2025
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity
Share Repurchase Program
On November 9, 2022, the Company announced its Board of Directors approved a two-year share repurchase program to purchase up to $1.0 billion of its outstanding ordinary shares. Share repurchases may be made in open market or privately negotiated transactions and/or pursuant to Rule 10b5-1 trading plans, subject to market conditions, applicable legal requirements, trading restrictions under the Company’s insider trading policy and other relevant factors. However, pursuant to the terms of the Merger Agreement, and subject to certain limited exceptions, the Company was prohibited from repurchasing its ordinary shares other than the acceptance of Company ordinary shares as payment of the exercise price of Company options
or for withholding taxes with respect of Company equity awards. Accordingly, the Company did not repurchase any of its ordinary shares during the pendency of the Merger Agreement pursuant to the share repurchase program. The share repurchase program expired on November 9, 2024.
During the three months ended June 28, 2025 and June 29, 2024, the Company did not purchase any of its’ ordinary shares through open market transactions.
The Company also has in place a “withhold to cover” repurchase program, which allows the Company to withhold ordinary shares from certain employees and directors to satisfy minimum tax withholding obligations relating to the vesting of their restricted share awards. During the three months ended June 28, 2025 and June 29, 2024, the Company withheld 86,365 shares and 93,738 shares, respectively, with a fair value of $1 million and $3 million, respectively, in satisfaction of minimum tax withholding obligations relating to the vesting of restricted share awards.
Accumulated Other Comprehensive (Loss) Income
The following table details changes in the components of accumulated other comprehensive (loss) income (“AOCI”), net of taxes, for the three months ended June 28, 2025 and June 29, 2024, respectively (in millions):
Foreign Currency Translation Adjustments (1)
Net Loss on Derivatives (2)
Other Comprehensive (Loss) Income Attributable to Capri
Balance at March 29, 2025$67 $(10)$57 
Other comprehensive loss before reclassifications(451)(4)(455)
Loss reclassified from AOCI to earnings — 2 2 
Other comprehensive loss, net of tax(451)(2)(453)
Balance at June 28, 2025$(384)$(12)$(396)
Balance at March 30, 2024$161 $— $161 
Other comprehensive loss before reclassifications (29)— (29)
Balance at June 29, 2024$132 $— $132 
(1)Foreign currency translation adjustments for the three months ended June 28, 2025 primarily include a $437 million loss, net of taxes of $148 million, relating to the Company’s net investment hedges, as well as a net $14 million translation loss. Foreign currency translation adjustments for the three months ended June 29, 2024 primarily include a $19 million loss, net of taxes of $7 million, relating to the Company’s net investment hedges, and a net $10 million translation loss.
(2)Other comprehensive loss before reclassifications for the three months ended June 28, 2025 primarily relate to the Company’s foreign currency exchange contracts for inventory purchases. Reclassifications from AOCI into earnings for three months ended June 28, 2025 relate to the Company’s interest rate swaps of $2 million, net of taxes and are recorded within interest income, net, in the Company’s consolidated statements of operations and comprehensive income (loss).
v3.25.2
Share-Based Compensation
 3 Months Ended
Jun. 28, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
The Company grants equity awards to certain employees and directors of the Company at the discretion of the Company’s Compensation and Talent Committee. The Company has an Omnibus Incentive Plan effective as of December 1, 2011 and amended and restated as of May 20, 2015, June 25, 2020 and May 24, 2022 (the “Incentive Plan”). The Incentive Plan allows for grants of share options, restricted shares and RSUs and other equity awards, and authorizes a total issuance of up to 22,471,000 ordinary shares after amendments in August 2022. At June 28, 2025, there were 996,684 ordinary shares available for future grants of equity awards under the Incentive Plan. Option grants issued under the Incentive Plan generally expire seven years from the grant date.
The following table summarizes the Company’s share-based compensation activity during the three months ended June 28, 2025:
 OptionsService-Based RSUsPerformance-Based RSUs
Outstanding/Unvested at March 29, 2025
180,481 2,992,161 162,954 
Granted— 2,147,786 — 
Exercised/Vested— (1,261,936)— 
Canceled/Forfeited(180,481)(247,248)— 
Outstanding/Unvested at June 28, 2025
— 3,630,763 162,954 
The weighted average grant date fair value of service-based RSUs granted during the three months ended June 28, 2025 was $17.23. There were no performance-based RSUs granted during the three months ended June 28, 2025. The weighted average grant date fair value of service-based RSUs granted during the three months ended June 29, 2024 was $32.13. There were no performance-based RSUs granted during the three months ended June 29, 2024.
Share-Based Compensation Expense
The following table summarizes compensation expense attributable to share-based compensation for the three months ended June 28, 2025 and June 29, 2024 (in millions):
Three Months Ended
June 28,
2025		June 29,
2024
Share-based compensation expense$14 $24 
Tax benefit related to share-based compensation expense$— $4 
Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company estimates forfeitures based on historical forfeiture rates. The estimated value of future forfeitures for equity awards as of June 28, 2025 is $6 million. There are no forfeitures for performance-based RSUs.
See Note 17 in the Company’s Fiscal 2025 Annual Report on Form 10-K for additional information relating to the Company’s share-based compensation awards.
v3.25.2
Income Taxes
 3 Months Ended
Jun. 28, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company’s effective tax rate for the three months ended June 28, 2025 was (40)%. This rate differs from the United Kingdom (“U.K.”) federal statutory rate of 25% primarily related to a reduction in the Company’s valuation allowance during the period for the three months ended June 28, 2025.
The Company’s effective tax rate for the three months ended June 29, 2024 was 55%. This rate differs from the U.K federal statutory rate of 25% primarily related to the settlement of certain state tax audits and unfavorable share-based compensation adjustments.
The global financing activities are related to the Company’s 2014 move of its principal executive office from Hong Kong to the U.K. and decision to become a U.K. tax resident. In connection with this decision, the Company funded its international growth strategy through intercompany debt financing arrangements. These debt financing arrangements reside between certain of our U.S. and U.K. subsidiaries. Due to the difference in the statutory income tax rates between these jurisdictions, the Company generally realizes lower effective tax rates compared to its statutory rate as a result of these financing activities.
On July 4, 2025, the U.S. government enacted the One Big Beautiful Bill Act of 2025 which includes, among other provisions, changes to the U.S. corporate income tax system including the allowance of immediate expensing of qualifying research and development expenses and permanent extensions of certain provisions within the Tax Cuts and Jobs Act. The Company is evaluating the future impact of these tax law changes on its consolidated financial statements.
On January 10, 2025, the United States Treasury and the IRS issued final regulations that address several long-standing issues related to dual consolidated losses and introduce new rules for disregarded payment losses. The changes related to disregarded payment losses could impact how the Company utilizes certain deductions and losses to offset its U.S. income as part of its global financing activities beginning in Fiscal 2027. The Company will continue to evaluate its impact as further information becomes available.
v3.25.2
Segment Information
 3 Months Ended
Jun. 28, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
On April 10, 2025, the Company and Prada entered into a Purchase Agreement whereby Prada has agreed to acquire certain subsidiaries of the Company which operate the Company’s Versace business for an aggregate purchase price of $1.375 billion in cash, subject to certain adjustments, including for net indebtedness, working capital and transaction expenses. As a result, the Company determined that the held for sale and discontinued operations criteria have been met and the Company has classified the results of operations and cash flows of its Versace business as discontinued operations in its consolidated statements of operations and comprehensive income (loss) and consolidated statements of cash flows for all periods presented. The related assets and liabilities associated with the discontinued operations are classified as held for sale in the consolidated balance sheets as of June 28, 2025 and March 29, 2025. Accordingly, the Versace business has been excluded from the segment information herein for all periods presented. Refer to Note 4 - "Discontinued Operations" for further information.

The Company operates its business through three operating segments — Michael Kors, Jimmy Choo and Versace, which are based on its business activities and organization. The reportable segments are segments of the Company for which separate financial information is available and for which operating results are evaluated regularly by the Company’s chief operating decision maker (“CODM”), who is the Company’s Chairman and Chief Executive Officer, in deciding how to allocate resources, as well as in assessing performance. The primary key performance indicators are revenue and operating income for each segment. The Company’s reportable segments represent components of the business that offer similar merchandise, customer experience and sales/marketing strategies.
The Company’s three reportable segments are as follows:
•Michael Kors — segment includes revenue generated through the sale of Michael Kors products through four primary Michael Kors retail formats: “Collection” stores, “Lifestyle” stores (including concessions), outlet stores and e-commerce sites, through which the Company sells Michael Kors products, as well as licensed products bearing the Michael Kors name, directly to consumers throughout the Americas, certain parts of EMEA and certain parts of Asia. The Company also sells Michael Kors products directly to department stores, primarily located across the Americas and Europe, to specialty stores and travel retail shops, and to its geographic licensees. In addition, revenue is generated through product and geographic licensing arrangements, which allow third parties to use the Michael Kors brand name and trademarks in connection with the manufacturing and sale of products, including watches, jewelry, fragrances and eyewear.
•Jimmy Choo — segment includes revenue generated through the sale of Jimmy Choo luxury footwear, handbags and small leather goods through directly operated Jimmy Choo retail and outlet stores throughout the Americas, certain parts of EMEA and certain parts of Asia, through its e-commerce sites, as well as through wholesale sales of luxury goods to distribution partners (including geographic licensing arrangements that allow third parties to use the Jimmy Choo trademarks in connection with retail and/or wholesale sales of Jimmy Choo branded products in specific geographic regions), multi-brand department stores and specialty stores worldwide. In addition, revenue is generated through product licensing agreements, which allow third parties to use the Jimmy Choo brand name and trademarks in connection with the manufacturing and sale of fragrances and eyewear.
•Versace — segment includes revenue generated through the sale of Versace luxury ready-to-wear, accessories and footwear through directly operated Versace boutiques throughout North America, certain parts of EMEA and certain parts of Asia, as well as through Versace outlet stores and e-commerce sites. In addition, revenue is generated through wholesale sales to distribution partners (including geographic licensing arrangements that allow third parties to use the Versace trademarks in connection with retail and/or wholesale sales of Versace branded products in specific geographic regions), multi-brand department stores and specialty stores worldwide, as well as through product license agreements in connection with the manufacturing and sale of the Versace Jeans Couture product line, fragrances, watches, eyewear and home furnishings. As noted above, the results of the Versace business are excluded from the segment information herein for all periods presented. Refer to Note 4 - "Discontinued Operations" for further information.
In addition to these reportable segments, the Company has certain corporate costs that are not directly attributable to its brands and, therefore, are not allocated to its segments. Such costs primarily include certain administrative, corporate occupancy, shared service and information technology systems expenses, including enterprise resource planning system implementation costs and Capri transformation program costs. In addition, certain other costs are not allocated to segments, including transaction related costs and restructuring and other expense. The segment structure is consistent with how the Company’s CODM plans and allocates resources, manages the business and assesses performance. All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance.
The following table presents the key performance information of the Company’s reportable segments (in millions):
 Three Months Ended
 June 28,
2025		June 29,
2024
Total revenue:
Michael Kors$635 $675 
Jimmy Choo162 173 
Total revenue$797 $848 
Cost of goods sold:
Michael Kors$247 $256 
Jimmy Choo48 57 
Total cost of goods sold$295 $313 
Selling, general and administrative expenses:
Michael Kors$307 $324 
Jimmy Choo103 105 
Corporate45 62 
Total selling, general and administrative expenses$455 $491 
Depreciation and amortization:
Michael Kors$18 $20 
Jimmy Choo7 7 
Corporate5 5 
Total depreciation and amortization$30 $32 
Income from operations:
Michael Kors$63 $75 
Jimmy Choo4 4 
67 79 
Less:Corporate expenses(50)(62)
Transaction related costs— (5)
Restructuring and other expense (1)(1)
Income from operations$16 $11 
Total revenue (based on country of origin) by geographic location are as follows (in millions):
Three Months Ended
 June 28,
2025		June 29,
2024
Revenue:
The Americas (1)
$459 $503 
EMEA228 215 
Asia110 130 
Total revenue$797 $848 
(1)Total revenue earned in the U.S. was $418 million and $458 million, respectively, for the three months ended June 28, 2025 and June 29, 2024, respectively.
Total long-lived assets of the Company’s reportable segments are as follows (in millions):
 As of
June 28,
2025		March 29,
2025
Long-lived assets:
Michael Kors$1,200 $1,197 
Jimmy Choo618 603 
Total long-lived assets$1,818 $1,800 
See Note 8 for the Company’s goodwill by reportable segment.
v3.25.2
Subsequent Events
 3 Months Ended
Jun. 28, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Fourth Amended and Restated Omnibus Incentive Plan
On August 7, 2025, the Company filed a Registration Statement in accordance with the requirements of Form S-8 under the Securities Act of 1933, as amended, to register an additional 2,500,000 of its ordinary shares, no par value, that are reserved for issuance under the Capri Holdings Limited Fourth Amended and Restated Omnibus Incentive Plan. This amendment to increase the number of shares available to be awarded under the Plan was approved by the Company’s shareholders on August 7, 2025.
v3.25.2
Insider Trading Arrangements
 3 Months Ended
Jun. 28, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.2
Summary of Significant Accounting Policies (Policies)
 3 Months Ended
Jun. 28, 2025
Accounting Policies [Abstract]  
Consolidation
The interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and include the accounts of the Company and its wholly-owned or controlled subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The interim consolidated financial statements as of June 28, 2025 and for the three months ended June 28, 2025 and June 29, 2024 are unaudited. The Company consolidates the results of its Versace business on a one-month lag, as consistent with prior periods. In addition, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The interim consolidated financial statements reflect all normal and recurring adjustments, which are, in the opinion of management, necessary for a fair presentation in conformity with U.S. GAAP. The interim consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended March 29, 2025, as filed with the Securities and Exchange Commission on May 28, 2025, in the Company’s Annual Report on Form 10-K. The results of operations for the interim periods should not be considered indicative of results to be expected for the full fiscal year.
Fiscal Period
The Company utilizes a 52- to 53-week fiscal year and the term “Fiscal Year” or “Fiscal” refers to that 52-week or 53-week period. The results for the three months ended June 28, 2025 and June 29, 2024 are based on 13-week periods. The Company’s Fiscal Year 2026 is a 52-week period ending March 28, 2026.
Cash, Cash Equivalents and Restricted Cash All highly liquid investments with original maturities of three months or less are considered to be cash equivalents.
Inventories Inventories primarily consist of finished goods with the exception of raw materials and work in process.
Derivative Financial Instruments
Forward Foreign Currency Exchange Contracts
The Company uses forward foreign currency exchange contracts to manage its exposure to fluctuations in foreign currencies for certain transactions. The Company, in its normal course of business, enters into transactions with foreign suppliers and seeks to minimize risks related to these transactions. The Company employs these forward contracts to hedge the Company’s cash flows, as they relate to transactions denominated in foreign currencies. Certain of these contracts are designated as hedges for accounting purposes, while others may remain undesignated. All of the Company’s derivative instruments are recorded in the Company’s consolidated balance sheets at fair value on a gross basis, regardless of their hedge designation.
The Company designates certain contracts related to the purchase of inventory that qualify for hedge accounting as cash flow hedges. Formal hedge documentation is prepared for all derivative instruments designated as hedges, including a description of the hedged transaction, the hedging instrument and the risk being hedged. The changes in the fair value for contracts designated as cash flow hedges are recorded in equity as a component of accumulated other comprehensive (loss) income until the hedged item affects earnings. When the inventory related to forecasted inventory purchases that are being hedged is sold to a third-party, the gains or losses deferred in accumulated other comprehensive (loss) income are recognized within cost of goods sold. The Company uses regression analysis to assess effectiveness of derivative instruments that are designated as hedges, which compares the change in the fair value of the derivative instrument to the change in the related hedged item. If the hedge is no longer expected to be highly effective, future changes in the fair value are recognized in earnings. For those contracts that are not designated as hedges, changes in the fair value are recorded to foreign currency (gain) loss in the Company’s consolidated statements of operations and comprehensive income (loss). The Company classifies cash flows relating to its forward foreign currency exchange contracts related to the purchase of inventory consistently with the classification of the hedged item, within cash flows from operating activities.
The Company is exposed to the risk that counterparties to derivative contracts will fail to meet their contractual obligations. In order to mitigate counterparty credit risk, the Company only enters into contracts with carefully selected financial institutions based upon their credit ratings and certain other financial factors, adhering to established limits for credit exposure. The aforementioned forward contracts generally have a term less than 12 months. The period of these contracts is directly related to the transactions they are intended to hedge.
Net Investment Hedges
The Company also uses cross currency swap agreements to hedge its net investments in foreign operations against future volatility in the exchange rates between different currencies. The Company has elected the spot method of designating these contracts under ASU 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,” and has designated these contracts as net investment hedges. The net gain or loss on the net investment hedge is reported within foreign currency translation adjustments (“CTA”), as a component of accumulated other comprehensive (loss) income on the Company’s consolidated balance sheets. Interest accruals and coupon payments are recognized directly in interest income, net, in the Company’s consolidated statements of operations and comprehensive income (loss). Upon discontinuation of a hedge, all previously recognized amounts remain in CTA until the net investment is sold or liquidated.
Interest Rate Swap Agreements
The Company also uses interest rate swap agreements to hedge the variability of its cash flows resulting from floating interest rates on the Company’s borrowings. When an interest rate swap agreement qualifies for hedge accounting as a cash flow hedge, the changes in the fair value are recorded in equity as a component of accumulated other comprehensive (loss) income and are reclassified into interest income, net, in the same period during which the hedged transactions affect earnings.
Leases
The Company leases retail stores, office space and warehouse space under operating lease agreements that expire at various dates through September 2043. The Company’s leases generally have terms of up to ten years, generally require fixed rent payments and may require the payment of additional rent if store sales exceed a negotiated amount. Although most of the Company’s equipment is owned, the Company has limited equipment leases that expire on various dates through December 2029. The Company acts as sublessor in certain leasing arrangements, primarily related to closed stores under its restructuring initiatives. Fixed sublease payments received are recognized on a straight-line basis over the sublease term. The Company determines the sublease term based on the date it provides possession to the subtenant through the expiration date of the sublease.

The Company recognizes operating lease right-of-use assets and lease liabilities at the lease commencement date, based on the present value of fixed lease payments over the expected lease term. The Company uses its incremental borrowing rates to determine the present value of fixed lease payments based on the information available at the lease commencement date, as the rate implicit in the lease is not readily determinable for the Company’s leases. The Company’s incremental borrowing rates are based on the term of the leases, the economic environment of the leases and reflect the expected interest rate it would incur to borrow on a secured basis. Certain leases include one or more renewal options, generally for the same period as the initial term of the lease. The exercise of lease renewal options is generally at the Company’s sole discretion and as such, the Company typically determines that exercise of these renewal options is not reasonably certain. As a result, the Company generally does not include the renewal option period in the expected lease term and the associated lease payments are not included in the measurement of the operating lease right-of-use asset and lease liability. Certain leases also contain termination options with an associated penalty. Generally, the Company is reasonably certain not to exercise these options and as such, they are not included in the determination of the expected lease term. The Company recognizes operating lease expense on a straight-line basis over the lease term.

Leases with an initial lease term of 12 months or less are not recorded on the balance sheet. The Company recognizes lease expense for its short-term leases on a straight-line basis over the lease term.

The Company’s leases generally provide for payments of non-lease components, such as common area maintenance, real estate taxes and other costs associated with the leased property. The Company accounts for lease and non-lease components of its real estate leases together as a single lease component and, as such, includes fixed payments of non-lease components in the measurement of the operating lease right-of-use assets and lease liabilities for its real estate leases. Variable lease payments, such as percentage rentals based on location sales, periodic adjustments for inflation, reimbursement of real estate taxes, any variable common area maintenance and any other variable costs associated with the leased property, are expensed as incurred as variable lease costs and are not recorded on the balance sheet. The Company’s lease agreements do not contain any material residual value guarantees or material restrictions or covenants.
Net Income per Share
The Company’s basic net income per ordinary share is calculated by dividing net income by the weighted average number of ordinary shares outstanding during the period. Diluted net income per ordinary share reflects the potential dilution that would occur if restricted share units (“RSUs”) or any other potentially dilutive instruments, including share option grants, were converted or exercised into ordinary shares. These potentially dilutive securities are included in diluted shares to the extent they are dilutive under the treasury stock method for the applicable periods. Performance-based RSUs are included in diluted shares if the related performance conditions are considered satisfied as of the end of the reporting period and to the extent they are dilutive under the treasury stock method.
Recently Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements
The Company has considered all new accounting pronouncements and, other than the recent pronouncements discussed below, has concluded that there are no new pronouncements that may have a material impact on the Company’s results of operations, financial condition or cash flows based on current information.
Income Taxes
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, to enhance transparency and decision usefulness of income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. The Company will adopt the update on a prospective basis beginning with disclosure in its Fiscal 2026 annual consolidated financial statements.
Comprehensive Income
In November 2024, the FASB issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)”, which requires public entities to disaggregate specific types of expenses, including disclosures for purchases of inventory, employee compensation, depreciation, and intangible asset amortization, as well as selling expenses. ASU 2024-03 is effective for annual periods beginning after December 15, 2026. Interim disclosures are required for periods within annual periods beginning after December 15, 2027. Prospective application is required, and retrospective application is permitted. Early adoption is also permitted. We are currently assessing the impact of the requirements on the Company’s consolidated financial statements and disclosures.
Tax Legislation
Tax Legislation
On December 12, 2022, the European Union member states reached an agreement to implement the OECD’s reform of international taxation known as Pillar Two Global Anti-Base Erosion ("GloBE") Rules, which broadly mirrors certain provisions of the Inflation Reduction Act by imposing a 15% global minimum tax on multinational companies. GloBE became effective for the Company during Fiscal 2025. Based upon the Company’s analysis, the Pillar Two initiatives are not projected to have a material impact on the Company’s consolidated financial statements.
On January 10, 2025, the United States Treasury and the IRS issued final regulations that address several long-standing issues related to dual consolidated losses and introduce new rules for disregarded payment losses. The changes related to disregarded payment losses could impact how the Company utilizes certain deductions and losses to offset its U.S. income as part of its global financing activities, beginning in Fiscal 2027. The Company will continue to evaluate its impact as further information becomes available.
On July 4, 2025, the U.S. government enacted the One Big Beautiful Bill Act of 2025 which includes, among other provisions, changes to the U.S. corporate income tax system including the allowance of immediate expensing of qualifying research and development expenses and permanent extensions of certain provisions within the Tax Cuts and Jobs Act. The Company is evaluating the future impact of these tax law changes on its consolidated financial statements.
Revenue Recognition
The Company accounts for contracts with its customers when there is approval and commitment from both parties, the rights of the parties and payment terms have been identified, the contract has commercial substance and collectability of consideration is probable. Revenue is recognized when control of the promised goods or services is transferred to the Company’s customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for goods or services.
The Company sells its products through three primary channels of distribution: retail, wholesale and licensing. Within the retail and wholesale channels, substantially all of the Company’s revenues consist of sales of products that represent a single performance obligation where control transfers at a point in time to the customer. For licensing arrangements, royalty and advertising revenue is recognized over time based on access provided to the Company’s brands.
The Company has chosen to apply the practical expedient allowing it not to disclose the amount of the transaction price allocated to remaining performance obligations that have an expected duration of 12 months or less.
Retail
The Company generates sales through directly operated stores and e-commerce sites throughout the Americas (United States, Canada and Latin America), certain parts of EMEA (Europe, Middle East and Africa) and certain parts of Asia (Asia and Oceania). Retail revenue is recognized when control of the product is transferred at the point of sale at Company owned stores, including concessions. For e-commerce transactions, control is transferred and revenue is recognized when products are delivered to the customer. To arrive at net sales for retail, gross sales are reduced by actual customer returns, as well as by a provision for estimated future customer returns.
Sales tax collected from retail customers are presented on a net basis and, as such, are excluded from revenue. Shipping and handling costs that are billed to customers are included in net sales, with the related costs recorded in cost of goods sold. Shipping and handling costs that are not billed to customers are accounted for as fulfillment costs.
Gift Cards. The Company sells gift cards that can be redeemed for merchandise, resulting in a contract liability upon issuance. Revenue is recognized when a gift card is redeemed or upon “breakage” for the estimated portion of gift cards that are not expected to be redeemed. “Breakage” revenue is calculated under the proportional redemption methodology, which considers the historical patterns of redemption in jurisdictions where the Company is not required to remit the value of the unredeemed gift cards as unclaimed property. The Company anticipates that substantially all of its outstanding gift cards will be redeemed within the next 12 months. The contract liability related to gift and retail store credits, net of estimated “breakage”
was $10 million as of both June 28, 2025 and March 29, 2025 and is included in accrued expenses and other current liabilities in the Company’s consolidated balance sheets.
Loyalty Program. The Company offers a loyalty program, which allows its Michael Kors North America customers to earn points on qualifying purchases toward monetary and non-monetary rewards, which may be redeemed for purchases at Michael Kors retail stores and e-commerce sites. The Company defers a portion of the initial sales transaction based on the estimated relative fair value of the benefits based on projected timing of future redemptions and historical activity. These amounts include estimated “breakage” for points that are not expected to be redeemed.
Wholesale
The Company’s products are sold primarily to major department stores, specialty stores and travel retail shops throughout the Americas, EMEA and Asia. The Company also has arrangements where its products are sold to geographic licensees in certain parts of EMEA, Asia and South America. Wholesale revenue is recognized net of estimates for sales returns, discounts, markdowns and allowances, when merchandise is shipped and control of the underlying product is transferred to the Company’s wholesale customers. To arrive at net sales for wholesale, gross sales are reduced by provisions for estimated future returns, as well as trade discounts, markdowns, allowances, operational chargebacks and certain cooperative selling expenses. These estimates are developed based on historical trends, actual and forecasted performance and market conditions, and are reviewed by management on a quarterly basis. Unfulfilled, non-cancelable purchase orders for products from wholesale customers (including the Company’s geographic licensees) are expected to be fulfilled within the next 12 months.
Licensing
The Company provides its third-party licensees with the right to access its Michael Kors and Jimmy Choo trademarks under product and geographic licensing arrangements. Under product licensing arrangements, the Company allows third-parties to manufacture and sell luxury goods, including watches and jewelry, fragrances, eyewear and home furnishings, using the Company’s trademarks. Under geographic licensing arrangements, third party licensees receive the right to distribute and sell products bearing the Company’s trademarks in retail and/or wholesale channels within certain geographical areas, including Brazil, the Middle East, Eastern Europe, South Africa and certain parts of Asia.
The Company recognizes royalty revenue and advertising contributions based on the percentage of sales made by the licensees. Advertising contributions are received to support the Company’s branded advertising and marketing campaigns and are viewed as part of a single performance obligation with the right to access the Company’s trademarks. Royalty revenue generated from licensees, which includes contributions for advertising, may be subject to contractual minimum levels, as defined in the contract. Such minimums are generally fixed annually, based on the previous year’s sales. Licensing revenue is based on reported current period sales of licensed products at rates that are specified in the license agreements for contracts that are expected to exceed the related guaranteed minimums. If the Company expects the minimum guaranteed amounts to exceed amounts calculated based on actual sales, the guaranteed minimums are recognized ratably over the contractual year to which they relate. The Company’s guaranteed minimum royalty amounts due from licensees relate to contractual periods that do not exceed 12 months.
Receivables, net
Receivables are presented net of allowances for discounts, markdowns, operational chargebacks and credit losses. Discounts are based on open invoices where trade discounts have been extended to customers. Markdowns are based on wholesale customers’ sales performance, seasonal negotiations with customers, historical deduction trends and an evaluation of current market conditions. Operational chargebacks are based on deductions taken by customers, net of expected recoveries. Such provisions, and related recoveries, are reflected in revenues.
The Company’s allowance for credit losses is determined through analysis of periodic aging of receivables and assessments of collectability based on an evaluation of historic and anticipated trends, the financial condition of the Company’s customers and the impact of general economic conditions. The past due status of a receivable is based on its contractual terms. Amounts deemed uncollectible are written off against the allowance when it is probable the amounts will not be recovered. Allowance for credit losses was $14 million and $13 million as of June 28, 2025 and March 29, 2025, respectively. The Company had immaterial credit losses for the three months ended June 28, 2025 and credit losses of $1 million for the three months ended June 29, 2024
Fair Value Measurements At June 28, 2025 and March 29, 2025, the fair values of the Company’s derivative contracts were determined using broker quotations, which were calculations derived from observable market information: the applicable currency rates at the balance sheet date and those forward rates particular to the contract at inception. The Company makes no adjustments to these broker obtained quotes or prices, but assesses the credit risk of the counterparty and would adjust the provided valuations for counterparty credit risk when appropriate. The fair value of the Company’s derivative instruments are included in prepaid expenses and other current assets, other assets, accrued expenses and other current liabilities and in other long-term liabilities on the consolidated balance sheets depending on whether they represent assets or liabilities of the Company and based on the maturity date of each individual hedge contract.
The Company’s cash and cash equivalents, accounts receivable and accounts payable are recorded at carrying value, which approximates fair value.
v3.25.2
Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Jun. 28, 2025
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents
A reconciliation of cash, cash equivalents and restricted cash as of June 28, 2025 and March 29, 2025 from the consolidated balance sheets to the consolidated statements of cash flows is as follows (in millions):
 June 28,
2025		March 29,
2025
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents$129 $107 
Restricted cash included within prepaid expenses and other current assets10 9 
Total cash, cash equivalents and restricted cash shown on the consolidated statements of cash flows from continuing operations$139 $116 
Schedule of Restrictions on Cash and Cash Equivalents
A reconciliation of cash, cash equivalents and restricted cash as of June 28, 2025 and March 29, 2025 from the consolidated balance sheets to the consolidated statements of cash flows is as follows (in millions):
 June 28,
2025		March 29,
2025
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents$129 $107 
Restricted cash included within prepaid expenses and other current assets10 9 
Total cash, cash equivalents and restricted cash shown on the consolidated statements of cash flows from continuing operations$139 $116 
Schedule of Net Lease Costs and Supplemental Cash Flow Information
The following table presents the Company’s supplemental cash flow information related to leases (in millions):
Three Months Ended
June 28,
2025		June 29,
2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in operating leases
$85 $88 
Schedule of Components of Calculation of Basic Net Income Per Ordinary Share and Diluted Net Income Per Ordinary Share
The components of the calculation of basic net income per ordinary share and diluted net income per ordinary share are as follows (in millions, except share and per share data):
 Three Months Ended
June 28,
2025		June 29,
2024
Numerator:
Net income from continuing operations$56 $5 
Less: Net income attributable to noncontrolling interest from continuing operations— 2 
Net income attributable to Capri from continuing operations$56 $3 
Net loss from discontinued operations, net of tax$(3)$(17)
Less: Net income attributable to noncontrolling interest from discontinued operations— — 
Net (loss) attributable to Capri from discontinued operations(3)(17)
Net income (loss) attributable to Capri$53 $(14)
Denominator:
Basic weighted average shares118,799,819 117,440,282 
Weighted average dilutive share equivalents:
Share options, restricted stock units, and performance restricted stock units307,844 816,135 
Diluted weighted average shares119,107,663 118,256,417 
Net income (loss) per ordinary share attributable to Capri:
Basic from continuing operations$0.47 $0.03 
Basic from discontinued operations(0.03)(0.14)
Basic per ordinary share (1)
$0.44 $(0.11)
Diluted from continuing operations$0.47 $0.03 
Diluted from discontinued operations(0.03)(0.15)
Diluted per ordinary share (1)
$0.44 $(0.12)
(1)Basic and diluted per share amounts are calculated using unrounded numbers.
v3.25.2
Discontinued Operations (Tables)
 3 Months Ended
Jun. 28, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Disposal Groups, Including Discontinued Operations
The following table represents the carrying amounts of the major classes of assets and liabilities classified as held for sale in the consolidated balance sheets as of June 28, 2025 and March 29, 2025 (in millions):
June 28,
2025		March 29,
2025
Cash and cash equivalents$71 $59 
Receivables, net64 62 
Inventories, net194 168 
Prepaid expenses and other current assets55 53 
Current assets held for sale384 342 
Property and equipment, net120 120 
Operating lease right-of-use assets418 388 
Intangible assets, net579 534 
Goodwill529 489 
Other assets61 63 
Noncurrent assets held for sale1,707 1,594 
Total assets held for sale$2,091 $1,936 
Accounts payable$117 $106 
Accrued payroll and payroll related expenses35 28 
Accrued income taxes3 2 
Short-term operating lease liabilities106 101 
Accrued expenses and other current liabilities78 67 
Current liabilities held for sale339 304 
Long-term operating lease liabilities445 439 
Deferred tax liabilities114 106 
Long-term debt11 10 
Other long-term liabilities18 20 
Noncurrent liabilities held for sale588 575 
Total liabilities held for sale$927 $879 
The following table presents the major components of discontinued operations, net of income taxes, in the Company’s consolidated statements of operations and comprehensive income (loss):
Three Months Ended
June 28,
2025		June 29,
2024
Total revenue$183 $219 
Cost of goods sold50 65 
Selling, general and administrative expenses137 158 
Depreciation and amortization4 15 
Restructuring and other expense3 — 
Other income, net1 — 
Foreign currency (gain) loss(9)1 
Loss from discontinued operations before income taxes(3)(20)
Benefit for income taxes— (3)
Net loss from discontinued operations, net of tax$(3)$(17)
v3.25.2
Revenue Recognition (Tables)
 3 Months Ended
Jun. 28, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue Disaggregation
The following table presents the Company’s segment revenue disaggregated by geographic location (in millions):
 Three Months Ended
 June 28,
2025		June 29,
2024
Michael Kors - the Americas$413 $451 
Michael Kors - EMEA150 138 
Michael Kors - Asia72 86 
 Total Michael Kors revenue635 675 
Jimmy Choo - the Americas46 52 
Jimmy Choo - EMEA78 77 
Jimmy Choo - Asia38 44 
Total Jimmy Choo revenue162 173 
Total - the Americas459 503 
Total - EMEA228 215 
Total - Asia110 130 
Total revenue$797 $848 
v3.25.2
Receivables, net (Tables)
 3 Months Ended
Jun. 28, 2025
Receivables [Abstract]  
Schedule of Receivables
Receivables, net, consist of (in millions):
June 28,
2025		March 29,
2025
Trade receivables (1)
$203 $237 
Receivables due from licensees14 20 
217 257 
Less: allowances(46)(42)
Total receivables, net$171 $215 
(1)As of June 28, 2025 and March 29, 2025, $59 million and $55 million, respectively, of trade receivables were insured.
v3.25.2
Property and Equipment, net (Tables)
 3 Months Ended
Jun. 28, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment, Net
Property and equipment, net, consists of (in millions):
June 28,
2025		March 29,
2025
Leasehold improvements$418 $408 
Computer equipment and software297 284 
Furniture and fixtures162 153 
Equipment109 104 
Building62 57 
In-store shops27 26 
Land19 18 
Total property and equipment, gross1,094 1,050 
Less: accumulated depreciation and amortization(713)(675)
Subtotal381 375 
Construction-in-progress19 18 
Total property and equipment, net$400 $393 
v3.25.2
Intangible Assets and Goodwill (Tables)
 3 Months Ended
Jun. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Indefinite-Lived Intangible Assets
The following table details the carrying values of the Company’s intangible assets and goodwill (in millions):
June 28,
2025		March 29,
2025
Definite-lived intangible assets:
Reacquired rights $400 $400 
Trademarks23 23 
Customer relationships (1)
227 214 
Gross definite-lived intangible assets650 637 
Less: accumulated amortization(272)(259)
Net definite-lived intangible assets378 378 
Indefinite-lived intangible assets:
Jimmy Choo brand (2)
217 204 
Net indefinite-lived intangible assets217 204 
Intangible assets, net$595 $582 
Goodwill (3)
$204 $199 
(1)The change in the carrying value since March 29, 2025 reflects the impact of foreign currency translation adjustments.
(2)The change in the carrying value since March 29, 2025 reflects the impact of foreign currency translation adjustments. As of June 28, 2025 and March 29, 2025, the Company had accumulated impairment charges of $358 million related to its Jimmy Choo brand intangible assets.
(3)Includes accumulated impairment of $605 million related to the Jimmy Choo reporting units as of June 28, 2025 and March 29, 2025.
Schedule of Finite-Lived Intangible Assets
The following table details the carrying values of the Company’s intangible assets and goodwill (in millions):
June 28,
2025		March 29,
2025
Definite-lived intangible assets:
Reacquired rights $400 $400 
Trademarks23 23 
Customer relationships (1)
227 214 
Gross definite-lived intangible assets650 637 
Less: accumulated amortization(272)(259)
Net definite-lived intangible assets378 378 
Indefinite-lived intangible assets:
Jimmy Choo brand (2)
217 204 
Net indefinite-lived intangible assets217 204 
Intangible assets, net$595 $582 
Goodwill (3)
$204 $199 
(1)The change in the carrying value since March 29, 2025 reflects the impact of foreign currency translation adjustments.
(2)The change in the carrying value since March 29, 2025 reflects the impact of foreign currency translation adjustments. As of June 28, 2025 and March 29, 2025, the Company had accumulated impairment charges of $358 million related to its Jimmy Choo brand intangible assets.
(3)Includes accumulated impairment of $605 million related to the Jimmy Choo reporting units as of June 28, 2025 and March 29, 2025.
v3.25.2
Other Current Assets and Other Current Liabilities (Tables)
 3 Months Ended
Jun. 28, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consist of the following (in millions):
June 28,
2025		March 29,
2025
Prepaid taxes$96 $65 
Interest receivable related to hedges17 36 
Prepaid contracts17 20 
Restricted cash10 9 
Other accounts receivables5 8 
Other31 18 
Total prepaid expenses and other current assets$176 $156 
Schedule of Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consist of the following (in millions):
June 28,
2025		March 29,
2025
Short-term derivative liability$52 $14 
Other taxes payable27 32 
Return liabilities27 25 
Accrued advertising and marketing25 28 
Accrued purchases and samples19 21 
Accrued rent (1)
19 16 
Accrued e-commerce16 15 
Professional services14 16 
Accrued capital expenditures11 9 
Retail store expense accrual11 15 
Gift and retail store credits10 10 
Accrued interest5 6 
Other29 26 
Total accrued expenses and other current liabilities$265 $233 
(1)The accrued rent balance relates to variable lease payments.
v3.25.2
Restructuring and Other Expense (Tables)
 3 Months Ended
Jun. 28, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring and Related Costs The below table presents a roll forward of the Company’s restructuring liability related to its Global Optimization Plan (in millions):
Severance and benefit costsLease-related and other costsTotal
Balance at March 29, 2025
$4 $— $4 
Additions charged to expense
3 — 
(1)
3 
Payments(5)— (5)
Balance at June 28, 2025
$2 $— $2 
(1)Excludes $2 million of gains on lease terminations and store closure costs related to operating lease right-of-use assets recorded within restructuring and other expense on the consolidated statements of operations and comprehensive income (loss) for the three months ended June 28, 2025.
v3.25.2
Debt Obligations (Tables)
 3 Months Ended
Jun. 28, 2025
Debt Disclosure [Abstract]  
Schedule of Debt Obligations
The following table presents the Company’s debt obligations (in millions):
June 28,
2025		March 29,
2025
Revolving Credit Facilities$912 $755 
2025 Term Loans738 712 
Other27 29 
Total debt 1,677 1,496 
Less: Unamortized debt issuance costs6 6 
Total carrying value of debt1,671 1,490 
Less: Short-term debt
21 24 
Total long-term debt
$1,650 $1,466 
v3.25.2
Fair Value Measurements (Tables)
 3 Months Ended
Jun. 28, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value and Carrying Value of Assets
 
Fair value at June 28, 2025 using:
Fair value at March 29, 2025 using:
 Quoted prices in
active markets for
identical assets
(Level 1)		Significant
other observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)		Quoted prices in
active markets for
identical assets
(Level 1)		Significant
other observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)
Derivative liabilities:
Forward foreign currency exchange contracts
$— $6 $— $— $2 $— 
Net investment hedges— 874 — — 289 — 
Total derivative liabilities$— $880 $— $— $291 $— 
Schedule of Fair Value Measurement of Long-term Debt The following table summarizes the carrying values and estimated fair values of the Company’s debt, based on Level 2 measurements (in millions):
June 28, 2025March 29, 2025
Carrying
Value		Estimated
Fair Value 		Carrying
Value		Estimated
Fair Value
Revolving Credit Facilities$912 $912 $755 $755 
2025 Term Loans$732 $730 $706 $699 
v3.25.2
Derivative Financial Instruments (Tables)
 3 Months Ended
Jun. 28, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivative Contracts Recorded on Gross Basis in Consolidated Balance Sheets
The following table details the fair value of the Company’s derivative contracts, which are recorded on a gross basis in the consolidated balance sheets as of June 28, 2025 and March 29, 2025 (in millions):
Fair Value
 Notional AmountsAssetsLiabilities
 June 28,
2025		March 29,
2025		June 28,
2025		March 29,
2025		June 28,
2025		March 29,
2025
Designated forward foreign currency exchange contracts$79 $50 $— $— $6 
(1)
$2 
(1)
Designated net investment hedges5,864 5,864 — — 874 
(2)
289 
(2)
Total$5,943 $5,914 $— $— $880 $291 
(1)Recorded within accrued expenses and other current liabilities on the Company’s consolidated balance sheets.
(2)As of June 28, 2025, the Company recorded $46 million within accrued expenses and other current liabilities and $828 million within other long-term liabilities on the Company’s consolidated balance sheets. As of March 29, 2025, the Company recorded $12 million within accrued expenses and other current liabilities and $277 million within other long-term liabilities on the Company’s consolidated balance sheets.
Schedule of Derivative Instruments on The Balance Sheets, Net Basis However, if the Company were to offset and record the asset and liability balances for its derivative instruments on a net basis in accordance with the terms of its master netting arrangements, which provide for the right to set-off amounts for similar transactions denominated in the same currencies and with the same banks, the resulting impact as of June 28, 2025 and March 29, 2025 would be as follows (in millions):
Forward Currency
Exchange Contracts		Net Investment Hedges
June 28,
2025		March 29,
2025		June 28,
2025		March 29,
2025
Liabilities subject to master netting arrangements
$6 $2 $874 $289 
Derivative liabilities, net$6 $2 $874 $289 
Schedule of Reclassification out of Accumulated Other Comprehensive Income
The following table summarizes the pre-tax impact of the losses on the Company’s designated net investment hedges (in millions):
Three Months Ended
June 28, 2025June 29, 2024
Pre-Tax Losses
Recognized in OCI		Pre-Tax Losses
Recognized in OCI
Designated net investment hedges$(585)$(26)
For the three months ended June 28, 2025 and June 29, 2024, there was no pre-tax activity recorded within the consolidated statements of operations and comprehensive income (loss) related to designated forward foreign currency exchange contracts.
v3.25.2
Shareholders' Equity (Tables)
 3 Months Ended
Jun. 28, 2025
Equity [Abstract]  
Schedule of Changes in Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes
The following table details changes in the components of accumulated other comprehensive (loss) income (“AOCI”), net of taxes, for the three months ended June 28, 2025 and June 29, 2024, respectively (in millions):
Foreign Currency Translation Adjustments (1)
Net Loss on Derivatives (2)
Other Comprehensive (Loss) Income Attributable to Capri
Balance at March 29, 2025$67 $(10)$57 
Other comprehensive loss before reclassifications(451)(4)(455)
Loss reclassified from AOCI to earnings — 2 2 
Other comprehensive loss, net of tax(451)(2)(453)
Balance at June 28, 2025$(384)$(12)$(396)
Balance at March 30, 2024$161 $— $161 
Other comprehensive loss before reclassifications (29)— (29)
Balance at June 29, 2024$132 $— $132 
(1)Foreign currency translation adjustments for the three months ended June 28, 2025 primarily include a $437 million loss, net of taxes of $148 million, relating to the Company’s net investment hedges, as well as a net $14 million translation loss. Foreign currency translation adjustments for the three months ended June 29, 2024 primarily include a $19 million loss, net of taxes of $7 million, relating to the Company’s net investment hedges, and a net $10 million translation loss.
(2)Other comprehensive loss before reclassifications for the three months ended June 28, 2025 primarily relate to the Company’s foreign currency exchange contracts for inventory purchases. Reclassifications from AOCI into earnings for three months ended June 28, 2025 relate to the Company’s interest rate swaps of $2 million, net of taxes and are recorded within interest income, net, in the Company’s consolidated statements of operations and comprehensive income (loss).
v3.25.2
Share-Based Compensation (Tables)
 3 Months Ended
Jun. 28, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation Activity
The following table summarizes the Company’s share-based compensation activity during the three months ended June 28, 2025:
 OptionsService-Based RSUsPerformance-Based RSUs
Outstanding/Unvested at March 29, 2025
180,481 2,992,161 162,954 
Granted— 2,147,786 — 
Exercised/Vested— (1,261,936)— 
Canceled/Forfeited(180,481)(247,248)— 
Outstanding/Unvested at June 28, 2025
— 3,630,763 162,954 
Schedule of Compensation Expense Attributable to Share-Based Compensation
The following table summarizes compensation expense attributable to share-based compensation for the three months ended June 28, 2025 and June 29, 2024 (in millions):
Three Months Ended
June 28,
2025		June 29,
2024
Share-based compensation expense$14 $24 
Tax benefit related to share-based compensation expense$— $4 
v3.25.2
Segment Information (Tables)
 3 Months Ended
Jun. 28, 2025
Segment Reporting [Abstract]  
Schedule of Key Performance Information of Reportable Segments
The following table presents the key performance information of the Company’s reportable segments (in millions):
 Three Months Ended
 June 28,
2025		June 29,
2024
Total revenue:
Michael Kors$635 $675 
Jimmy Choo162 173 
Total revenue$797 $848 
Cost of goods sold:
Michael Kors$247 $256 
Jimmy Choo48 57 
Total cost of goods sold$295 $313 
Selling, general and administrative expenses:
Michael Kors$307 $324 
Jimmy Choo103 105 
Corporate45 62 
Total selling, general and administrative expenses$455 $491 
Depreciation and amortization:
Michael Kors$18 $20 
Jimmy Choo7 7 
Corporate5 5 
Total depreciation and amortization$30 $32 
Income from operations:
Michael Kors$63 $75 
Jimmy Choo4 4 
67 79 
Less:Corporate expenses(50)(62)
Transaction related costs— (5)
Restructuring and other expense (1)(1)
Income from operations$16 $11 
Schedule of Total Revenue (as Recognized Based on Country of Origin)
Total revenue (based on country of origin) by geographic location are as follows (in millions):
Three Months Ended
 June 28,
2025		June 29,
2024
Revenue:
The Americas (1)
$459 $503 
EMEA228 215 
Asia110 130 
Total revenue$797 $848 
(1)Total revenue earned in the U.S. was $418 million and $458 million, respectively, for the three months ended June 28, 2025 and June 29, 2024, respectively.
Schedule of Long-Lived Assets by Geographic Areas
Total long-lived assets of the Company’s reportable segments are as follows (in millions):
 As of
June 28,
2025		March 29,
2025
Long-lived assets:
Michael Kors$1,200 $1,197 
Jimmy Choo618 603 
Total long-lived assets$1,818 $1,800 
v3.25.2
Business and Basis of Presentation (Details)
$ in Millions
 3 Months Ended
Jun. 28, 2025
segment
Apr. 10, 2025
USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Number of reportable segments | segment 3  
Discontinued Operations, Held-for-Sale | Versace Business    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Disposal group, including discontinued operation, consideration | $   $ 1,375
v3.25.2
Termination of the Merger Agreement (Details)
$ in Millions
Nov. 14, 2024
USD ($)
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Proceeds from merger termination $ 45
v3.25.2
Summary of Significant Accounting Policies - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Mar. 29, 2025
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Credit card receivables $ 24   $ 20
Raw materials inventory and work in process inventory 18   $ 17
Sublease income $ 2 $ 2  
Anti-dilutive securities excluded from calculation of basic and diluted net income per ordinary share (in shares) 2,689,897 222,497  
Maximum      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Lessee, operating lease, term of contract (in years) 10 years    
v3.25.2
Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents and Restrictions on Cash and Cash Equivalents (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Mar. 29, 2025
Jun. 29, 2024
Accounting Policies [Abstract]      
Cash and cash equivalents $ 129 $ 107  
Restricted cash included within prepaid expenses and other current assets 10 9  
Total cash, cash equivalents and restricted cash shown on the consolidated statements of cash flows from continuing operations $ 139 $ 116 $ 183
v3.25.2
Summary of Significant Accounting Policies - Schedule of Net Lease Costs and Supplemental Cash Flow Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows used in operating leases $ 85 $ 88
v3.25.2
Summary of Significant Accounting Policies - Schedule of Components of Calculation of Basic Net Income Per Ordinary Share and Diluted Net Income Per Ordinary Share (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Numerator:    
Net income from continuing operations $ 56 $ 5
Less: Net income attributable to noncontrolling interest from continuing operations 0 2
Net income attributable to Capri from continuing operations 56 3
Net loss from discontinued operations, net of tax (3) (17)
Less: Net income attributable to noncontrolling interest from discontinued operations 0 0
Net (loss) attributable to Capri from discontinued operations (3) (17)
Net income (loss) attributable to Capri $ 53 $ (14)
Denominator:    
Basic weighted average shares (in shares) 118,799,819 117,440,282
Weighted average dilutive share equivalents:    
Share options, restricted stock units, and performance restricted stock units (in shares) 307,844 816,135
Diluted weighted average shares (in shares) 119,107,663 118,256,417
Net income (loss) per ordinary share attributable to Capri:    
Basic from continuing operations (in dollars per share) $ 0.47 $ 0.03
Basic from discontinued operations (in dollars per share) (0.03) (0.14)
Basic per ordinary share (in dollars per share) 0.44 (0.11)
Diluted from continuing operations (in dollars per share) 0.47 0.03
Diluted from discontinued operations (in dollars per share) (0.03) (0.15)
Diluted per ordinary share (in dollars per share) $ 0.44 $ (0.12)
v3.25.2
Discontinued Operations - Narrative (Details)
$ in Millions
Apr. 10, 2025
USD ($)
Discontinued Operations, Held-for-Sale | Versace Business  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]  
Disposal group, including discontinued operation, consideration $ 1,375
v3.25.2
Discontinued Operations - Schedule of the Major Classes of Assets and Liabilities of Discontinued Operations (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Mar. 29, 2025
Carrying amounts of the major classes of assets included in discontinued operations    
Current assets held for sale $ 384 $ 342
Noncurrent assets held for sale 1,707 1,594
Carrying amounts of the major classes of liabilities included in discontinued operations    
Current liabilities held for sale 339 304
Noncurrent liabilities held for sale 588 575
Discontinued Operations, Held-for-Sale | Versace Business    
Carrying amounts of the major classes of assets included in discontinued operations    
Cash and cash equivalents 71 59
Receivables, net 64 62
Inventories, net 194 168
Prepaid expenses and other current assets 55 53
Current assets held for sale 384 342
Property and equipment, net 120 120
Operating lease right-of-use assets 418 388
Intangible assets, net 579 534
Goodwill 529 489
Other assets 61 63
Noncurrent assets held for sale 1,707 1,594
Total assets held for sale 2,091 1,936
Carrying amounts of the major classes of liabilities included in discontinued operations    
Accounts payable 117 106
Accrued payroll and payroll related expenses 35 28
Accrued income taxes 3 2
Short-term operating lease liabilities 106 101
Accrued expenses and other current liabilities 78 67
Current liabilities held for sale 339 304
Long-term operating lease liabilities 445 439
Deferred tax liabilities 114 106
Long-term debt 11 10
Other long-term liabilities 18 20
Noncurrent liabilities held for sale 588 575
Total liabilities held for sale $ 927 $ 879
v3.25.2
Discontinued Operations - Schedule of the Major Components of Discontinued Operations, Net of Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]    
Net loss from discontinued operations, net of tax $ (3) $ (17)
Discontinued Operations, Held-for-Sale | Versace Business    
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]    
Total revenue 183 219
Cost of goods sold 50 65
Selling, general and administrative expenses 137 158
Depreciation and amortization 4 15
Restructuring and other expense 3 0
Other income, net 1 0
Foreign currency (gain) loss (9) 1
Loss from discontinued operations before income taxes (3) (20)
Benefit for income taxes 0 (3)
Net loss from discontinued operations, net of tax $ (3) $ (17)
v3.25.2
Revenue Recognition - Narrative (Details)
$ in Millions
 3 Months Ended
Jun. 28, 2025
USD ($)
distributionChannel
Jun. 29, 2024
USD ($)
Mar. 29, 2025
USD ($)
Contract With Customer, Asset And Liability [Line Items]      
Number of product distribution channels | distributionChannel 3    
Deferred loyalty program liabilities $ 10   $ 10
Return liabilities 27   25
Right to recover returned product 6   6
Contract liabilities 16   14
Revenue recognized during period 10 $ 8  
Gift and Retail Store Credits      
Contract With Customer, Asset And Liability [Line Items]      
Deferred loyalty program liabilities $ 10   $ 10
v3.25.2
Revenue Recognition - Schedule of Revenue Disaggregation (Details) - USD ($)
$ in Millions
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Disaggregation of Revenue [Line Items]    
Total revenue $ 797 $ 848
The Americas    
Disaggregation of Revenue [Line Items]    
Total revenue 459 503
EMEA    
Disaggregation of Revenue [Line Items]    
Total revenue 228 215
Asia    
Disaggregation of Revenue [Line Items]    
Total revenue 110 130
Michael Kors    
Disaggregation of Revenue [Line Items]    
Total revenue 635 675
Michael Kors | The Americas    
Disaggregation of Revenue [Line Items]    
Total revenue 413 451
Michael Kors | EMEA    
Disaggregation of Revenue [Line Items]    
Total revenue 150 138
Michael Kors | Asia    
Disaggregation of Revenue [Line Items]    
Total revenue 72 86
Jimmy Choo    
Disaggregation of Revenue [Line Items]    
Total revenue 162 173
Jimmy Choo | The Americas    
Disaggregation of Revenue [Line Items]    
Total revenue 46 52
Jimmy Choo | EMEA    
Disaggregation of Revenue [Line Items]    
Total revenue 78 77
Jimmy Choo | Asia    
Disaggregation of Revenue [Line Items]    
Total revenue $ 38 $ 44
v3.25.2
Receivables, net - Schedule of Receivables (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Mar. 29, 2025
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Trade receivables $ 203 $ 237
Receivables due from licensees 14 20
Receivables, gross 217 257
Less: allowances (46) (42)
Total receivables, net 171 215
Credit Risk Assumed by Insured    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Trade receivables $ 59 $ 55
v3.25.2
Receivables, net - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Mar. 29, 2025
Receivables [Abstract]      
Allowance for doubtful accounts $ 14   $ 13
Credit losses $ 0 $ 1  
v3.25.2
Property and Equipment, net - Schedule of Property and Equipment, Net (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Mar. 29, 2025
Property, Plant and Equipment [Abstract]    
Leasehold improvements $ 418 $ 408
Computer equipment and software 297 284
Furniture and fixtures 162 153
Equipment 109 104
Building 62 57
In-store shops 27 26
Land 19 18
Total property and equipment, gross 1,094 1,050
Less: accumulated depreciation and amortization (713) (675)
Subtotal 381 375
Construction-in-progress 19 18
Total property and equipment, net $ 400 $ 393
v3.25.2
Property and Equipment, net - Narrative (Details) - USD ($)
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Property, Plant and Equipment [Line Items]    
Depreciation and amortization of property and equipment $ 23,000,000 $ 26,000,000
Property, Plant and Equipment    
Property, Plant and Equipment [Line Items]    
Impairment of assets $ 0 $ 0
v3.25.2
Intangible Assets and Goodwill - Schedule of Carrying Values of Finite-Lived Intangible Assets (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Mar. 29, 2025
Definite-lived intangible assets:    
Gross definite-lived intangible assets $ 650 $ 637
Less: accumulated amortization (272) (259)
Net definite-lived intangible assets 378 378
Indefinite-lived intangible assets:    
Net indefinite-lived intangible assets 217 204
Intangible assets, net 595 582
Goodwill 204 199
Jimmy Choo brand    
Indefinite-lived intangible assets:    
Net indefinite-lived intangible assets 217 204
Accumulated impairment loss, indefinite-lived intangible assets 358 358
Accumulated impairment loss, goodwill 605 605
Reacquired rights    
Definite-lived intangible assets:    
Gross definite-lived intangible assets 400 400
Trademarks    
Definite-lived intangible assets:    
Gross definite-lived intangible assets 23 23
Customer relationships    
Definite-lived intangible assets:    
Gross definite-lived intangible assets $ 227 $ 214
v3.25.2
Intangible Assets and Goodwill - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Finite-Lived Intangible Assets [Line Items]    
Amortization of intangible assets $ 7 $ 6
v3.25.2
Other Current Assets and Other Current Liabilities - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Mar. 29, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Prepaid taxes $ 96 $ 65
Interest receivable related to hedges 17 36
Prepaid contracts 17 20
Restricted cash 10 9
Other accounts receivables 5 8
Other 31 18
Total prepaid expenses and other current assets $ 176 $ 156
v3.25.2
Other Current Assets and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Mar. 29, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Short-term derivative liability $ 52 $ 14
Other taxes payable 27 32
Return liabilities 27 25
Accrued advertising and marketing 25 28
Accrued purchases and samples 19 21
Accrued rent 19 16
Accrued e-commerce 16 15
Professional services 14 16
Accrued capital expenditures 11 9
Retail store expense accrual 11 15
Gift and retail store credits 10 10
Accrued interest 5 6
Other 29 26
Total accrued expenses and other current liabilities $ 265 $ 233
v3.25.2
Restructuring and Other Expense - Additional Information (Details) - Global Optimization Plan
$ in Millions
 3 Months Ended
Jun. 28, 2025
USD ($)
retailStore
Jun. 29, 2024
USD ($)
retailStore
Restructuring Cost and Reserve [Line Items]    
Number of retail stores closed | retailStore 15 11
Restructuring charges, net | $ $ 1 $ 1
v3.25.2
Restructuring and Other Expense - Schedule of Restructuring and Related Costs (Details) - USD ($)
$ in Millions
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Restructuring Reserve [Roll Forward]    
Gain on lease termination and store closure costs $ (1) $ (1)
Global Optimization Plan    
Restructuring Reserve [Roll Forward]    
Beginning balance 4  
Additions charged to expense 3  
Payments (5)  
Ending balance 2  
Global Optimization Plan | Severance and benefit costs    
Restructuring Reserve [Roll Forward]    
Beginning balance 4  
Additions charged to expense 3  
Payments (5)  
Ending balance 2  
Global Optimization Plan | Lease-related and other costs    
Restructuring Reserve [Roll Forward]    
Beginning balance 0  
Additions charged to expense 0  
Payments 0  
Ending balance 0  
Gain on lease termination and store closure costs $ 2  
v3.25.2
Debt Obligations - Schedule of Debt Obligations (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Mar. 29, 2025
Debt Instrument [Line Items]    
Total debt $ 1,677 $ 1,496
Less: Unamortized debt issuance costs 6 6
Total carrying value of debt 1,671 1,490
Less: Short-term debt 21 24
Total long-term debt 1,650 1,466
Line of Credit | Revolving Credit Facilities | Credit Agreement    
Debt Instrument [Line Items]    
Total debt 912 755
Line of Credit | 2025 Term Loans | Credit Agreement    
Debt Instrument [Line Items]    
Total debt 738 712
Other    
Debt Instrument [Line Items]    
Total debt $ 27 $ 29
v3.25.2
Debt Obligations - Narrative (Details)
Jun. 28, 2025
USD ($)
Feb. 04, 2025
USD ($)
Mar. 29, 2025
USD ($)
Feb. 04, 2025
EUR (€)
Debt Instrument [Line Items]        
Total debt $ 1,677,000,000   $ 1,496,000,000  
Less: Unamortized debt issuance costs 6,000,000   6,000,000  
Long-term debt 1,671,000,000   1,490,000,000  
Short-term debt 21,000,000   24,000,000  
Line of Credit | Revolving Credit Facilities        
Debt Instrument [Line Items]        
Letter of credit outstanding 2,000,000   1,000,000  
Credit Agreement | Line of Credit        
Debt Instrument [Line Items]        
Line of credit facility, maximum borrowing capacity   $ 2,200,000,000    
Leverage ratio on debt instrument   4.0    
Debt instrument, covenant, leverage ratio during period with material acquisition   4.5    
Debt instrument, covenant, cash and cash equivalents limit for net leverage ratio   $ 200,000,000    
Credit Agreement | Line of Credit | 2025 Term Loans        
Debt Instrument [Line Items]        
Debt instrument, face amount   700,000,000    
Total debt 738,000,000   712,000,000  
Credit Agreement | Line of Credit | 2025 Term Loans | United States of America, Dollars        
Debt Instrument [Line Items]        
Debt instrument, face amount   392,000,000    
Credit Agreement | Line of Credit | 2025 Term Loans | Euro Member Countries, Euro        
Debt Instrument [Line Items]        
Debt instrument, face amount   320,000,000   € 296,000,000
Credit Agreement | Line of Credit | Revolving Credit Facilities        
Debt Instrument [Line Items]        
Line of credit facility, maximum borrowing capacity   1,500,000,000    
Total debt 912,000,000   755,000,000  
Credit Agreement | Line of Credit | Letter of Credit        
Debt Instrument [Line Items]        
Line of credit facility, maximum borrowing capacity   125,000,000    
Credit Agreement | Line of Credit | Bridge Loan        
Debt Instrument [Line Items]        
Line of credit facility, maximum borrowing capacity   100,000,000    
Credit Facility 2025 | Line of Credit | 2025 Term Loans        
Debt Instrument [Line Items]        
Less: Unamortized debt issuance costs 6,000,000      
Long-term debt $ 732,000,000      
Credit Facility 2025 | Line of Credit | Revolving Credit Facilities        
Debt Instrument [Line Items]        
Debt instrument, maximum guaranteed secured working capital facilities   $ 100,000,000    
Credit Facility 2025 | Line of Credit | Revolving Credit Facilities | Minimum        
Debt Instrument [Line Items]        
Commitment fee percentage   0.075%    
Credit Facility 2025 | Line of Credit | Revolving Credit Facilities | Maximum        
Debt Instrument [Line Items]        
Commitment fee percentage   0.175%    
Credit Facility 2022 | Line of Credit | Revolving Credit Facilities        
Debt Instrument [Line Items]        
Commitment fee percentage 0.15%      
Total debt $ 912,000,000   755,000,000  
Amount available for future borrowings 586,000,000   744,000,000  
Less: Unamortized debt issuance costs $ 3,000,000   $ 3,000,000  
v3.25.2
Fair Value Measurements - Schedule of Fair Value and Carrying Value of Assets (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Mar. 29, 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total derivative liabilities $ 880 $ 291
Quoted prices in active markets for identical assets (Level 1) | Fair value, measurements, recurring    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total derivative liabilities 0 0
Quoted prices in active markets for identical assets (Level 1) | Forward foreign currency exchange contracts | Fair value, measurements, recurring    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total derivative liabilities 0 0
Quoted prices in active markets for identical assets (Level 1) | Net investment hedges | Fair value, measurements, recurring    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total derivative liabilities 0 0
Significant other observable inputs (Level 2) | Fair value, measurements, recurring    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total derivative liabilities 880 291
Significant other observable inputs (Level 2) | Forward foreign currency exchange contracts | Fair value, measurements, recurring    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total derivative liabilities 6 2
Significant other observable inputs (Level 2) | Net investment hedges | Fair value, measurements, recurring    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total derivative liabilities 874 289
Significant unobservable inputs (Level 3) | Fair value, measurements, recurring    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total derivative liabilities 0 0
Significant unobservable inputs (Level 3) | Forward foreign currency exchange contracts | Fair value, measurements, recurring    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total derivative liabilities 0 0
Significant unobservable inputs (Level 3) | Net investment hedges | Fair value, measurements, recurring    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total derivative liabilities $ 0 $ 0
v3.25.2
Fair Value Measurements - Schedule of Fair Value Measurement of Long-term Debt (Details) - Line of Credit - USD ($)
$ in Millions
Jun. 28, 2025
Mar. 29, 2025
Revolving Credit Facilities | Credit Agreement | Carrying Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 912 $ 755
Revolving Credit Facilities | Credit Agreement | Estimated Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 912 755
2025 Term Loans | Carrying Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 732 706
2025 Term Loans | Estimated Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 730 $ 699
v3.25.2
Fair Value Measurements - Narrative (Details) - USD ($)
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Significant unobservable inputs (Level 3) | Nonrecurring    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Impairment of assets $ 0 $ 0
v3.25.2
Derivative Financial Instruments - Narrative (Details)
€ in Millions
 3 Months Ended
Jun. 28, 2025
USD ($)
Mar. 29, 2025
USD ($)
Jun. 29, 2024
USD ($)
Jun. 28, 2025
EUR (€)
Mar. 29, 2025
EUR (€)
Sep. 28, 2024
EUR (€)
Derivative [Line Items]            
Notional amounts $ 5,943,000,000 $ 5,914,000,000        
Interest income (expense), net 18,000,000   $ 4,000,000      
Forward foreign currency exchange contracts | Designated as Hedging Instrument            
Derivative [Line Items]            
Notional amounts 79,000,000          
Forward foreign currency exchange contracts | Designated interest rate swaps | Designated as Hedging Instrument            
Derivative [Line Items]            
Notional amounts 79,000,000 50,000,000        
Net investment hedges | Net Investment Hedges | Designated as Hedging Instrument            
Derivative [Line Items]            
Notional amounts 5,864,000,000 5,864,000,000        
Interest income (expense), net 36,000,000   24,000,000      
Interest rate swaps | Designated interest rate swaps | Designated as Hedging Instrument            
Derivative [Line Items]            
Notional amounts 0 0       € 800
Interest income (expense), net (2,000,000)   $ 0      
Settlement of interest rate swaps   13,000,000        
Interest rate swaps | Designated interest rate swaps | Designated as Hedging Instrument | Credit Agreement            
Derivative [Line Items]            
Notional amounts | €           500
Interest rate swaps | Designated interest rate swaps | Designated as Hedging Instrument | Versace Term Loan            
Derivative [Line Items]            
Notional amounts | €           € 300
Euro Member Countries, Euro | Forward foreign currency exchange contracts | Designated as Hedging Instrument            
Derivative [Line Items]            
Notional amounts $ 29,000,000 $ 50,000,000        
Euro Member Countries, Euro | Net investment hedges | Net Investment Hedges | Designated as Hedging Instrument            
Derivative [Line Items]            
Notional amounts | €       € 2,364 € 2,364  
Derivative fixed interest rate 0.00% 0.00%   0.00% 0.00%  
Switzerland, Francs | Net investment hedges | Net Investment Hedges | Designated as Hedging Instrument            
Derivative [Line Items]            
Notional amounts | €       € 3,500 € 3,500  
Derivative fixed interest rate 0.00% 0.00%   0.00% 0.00%  
Switzerland, Francs | Cross Currency Interest Rate Contract, Modified, Fixed-To-Fixed | Net Investment Hedges | Designated as Hedging Instrument            
Derivative [Line Items]            
Notional amounts | €       € 950    
v3.25.2
Derivative Financial Instruments - Schedule of Fair Value of Derivative Contracts Recorded on Gross Basis in Consolidated Balance Sheets (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Mar. 29, 2025
Derivatives, Fair Value [Line Items]    
Notional Amounts $ 5,943 $ 5,914
Assets 0 0
Liabilities 880 291
Forward foreign currency exchange contracts | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Notional Amounts 79  
Forward foreign currency exchange contracts | Designated interest rate swaps | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Notional Amounts 79 50
Assets 0 0
Liabilities 6 2
Designated net investment hedges | Designated net investment hedges | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Notional Amounts 5,864 5,864
Assets 0 0
Liabilities 874 289
Designated net investment hedges | Designated net investment hedges | Designated as Hedging Instrument | Accounts Payable and Accrued Liabilities    
Derivatives, Fair Value [Line Items]    
Liabilities 46 12
Designated net investment hedges | Designated net investment hedges | Designated as Hedging Instrument | Other Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Liabilities $ 828 $ 277
v3.25.2
Derivative Financial Instruments - Schedule of Derivative Instruments on The Balance Sheets, Net Basis (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Mar. 29, 2025
Forward Currency Exchange Contracts | Designated interest rate swaps    
Derivative [Line Items]    
Liabilities subject to master netting arrangements $ 6 $ 2
Derivative liabilities, net 6 2
Net Investment Hedges | Net Investment Hedges    
Derivative [Line Items]    
Liabilities subject to master netting arrangements 874 289
Derivative liabilities, net $ 874 $ 289
v3.25.2
Derivative Financial Instruments - Schedule of Pre-tax Impact of Losses on Derivative (Details) - USD ($)
$ in Millions
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Designated net investment hedges | Designated as Hedging Instrument    
Derivative Instruments, Gain (Loss) [Line Items]    
Pre-Tax (Losses) Gains Recognized in OCI $ (585) $ (26)
v3.25.2
Shareholders' Equity - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 15 Months Ended
Nov. 09, 2022
Jun. 28, 2025
Jun. 29, 2024
Nov. 09, 2024
Subsidiary or Equity Method Investee [Line Items]        
Ordinary shares, shares repurchased amount   $ 1 $ 3  
Existing Share Repurchase Plan        
Subsidiary or Equity Method Investee [Line Items]        
Share repurchase program, period in force 2 years      
Share-repurchase program amount $ 1,000      
Ordinary shares, shares repurchased (in shares)   0 0 0
Withholding Taxes        
Subsidiary or Equity Method Investee [Line Items]        
Ordinary shares, shares repurchased (in shares)   86,365 93,738  
Ordinary shares, shares repurchased amount   $ 1 $ 3  
v3.25.2
Shareholders' Equity - Schedule of Changes in Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance $ 372 $ 1,600
Other comprehensive loss, net of tax (453) (29)
Ending balance (13) 1,582
Foreign currency translation adjustments loss 451 29
Interest rate swaps | Not Designated as Hedging Instrument    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Other comprehensive loss, net investment hedge, loss, reclassification, before tax 2  
Other Comprehensive (Loss) Income Attributable to Capri    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance [1] 57 161
Other comprehensive loss before reclassifications (455) (29)
Loss reclassified from AOCI to earnings 2  
Other comprehensive loss, net of tax [1] (453) (29)
Ending balance [1] (396) 132
Foreign Currency Translation Adjustments    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance 67 161
Other comprehensive loss before reclassifications (451) (29)
Loss reclassified from AOCI to earnings 0  
Other comprehensive loss, net of tax (451)  
Ending balance (384) 132
Foreign currency translation adjustments loss 437 19
Taxes related net investment hedges 148 7
Translation loss 14 10
Net Loss on Derivatives    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance (10) 0
Other comprehensive loss before reclassifications (4) 0
Loss reclassified from AOCI to earnings 2  
Other comprehensive loss, net of tax (2)  
Ending balance $ (12) $ 0
[1] Accumulated other comprehensive (loss) income.
v3.25.2
Share-Based Compensation - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Estimated value of future forfeitures $ 6  
Service-Based RSUs    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Weighted average grant date fair value of RSUs (in dollars per share) $ 17.23 $ 32.13
Granted (in shares) 2,147,786  
Forfeited (in shares) 247,248  
Performance-Based RSUs    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Granted (in shares) 0 0
Forfeited (in shares) 0  
Omnibus Incentive Plan 2012    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Shares authorized for issuance (up to) (in shares) 22,471,000  
Shares available for grant (in shares) 996,684  
Option expiration period (years) 7 years  
v3.25.2
Share-Based Compensation - Schedule of Share-based Compensation Activity (Details) - shares
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Options    
Options    
Outstanding at beginning of period (in shares) 180,481  
Granted (in shares) 0  
Exercised/Vested (in shares) 0  
Canceled/Forfeited (in shares) (180,481)  
Outstanding at end of period (in shares) 0  
Service-Based RSUs    
RSUs    
Unvested at beginning of period (in shares) 2,992,161  
Granted (in shares) 2,147,786  
Exercised/Vested (in shares) (1,261,936)  
Canceled/Forfeited (in shares) (247,248)  
Unvested at end of period (in shares) 3,630,763  
Performance-Based RSUs    
RSUs    
Unvested at beginning of period (in shares) 162,954  
Granted (in shares) 0 0
Exercised/Vested (in shares) 0  
Canceled/Forfeited (in shares) 0  
Unvested at end of period (in shares) 162,954  
v3.25.2
Share-Based Compensation - Schedule of Compensation Expense Attributable to Share-Based Compensation (Details) - USD ($)
$ in Millions
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Share-Based Payment Arrangement [Abstract]    
Share-based compensation expense $ 14 $ 24
Tax benefit related to share-based compensation expense $ 0 $ 4
v3.25.2
Income Taxes (Details)
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Income Tax Disclosure [Abstract]    
Effective tax rate (40.00%) 55.00%
v3.25.2
Segment Information - Narrative (Details)
$ in Millions
 3 Months Ended
Jun. 28, 2025
retailStore
segment
Apr. 10, 2025
USD ($)
Segment Reporting Information [Line Items]    
Number of operating segments 3  
Number of reportable segments 3  
Michael Kors    
Segment Reporting Information [Line Items]    
Number of retail store formats | retailStore 4  
Discontinued Operations, Held-for-Sale | Versace Business    
Segment Reporting Information [Line Items]    
Disposal group, including discontinued operation, consideration | $   $ 1,375
v3.25.2
Segment Information - Schedule of Key Performance Information of Reportable Segments (Details) - USD ($)
$ in Millions
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Segment Reporting Information [Line Items]    
Total revenue $ 797 $ 848
Cost of goods sold 295 313
Selling, general and administrative expenses 455 491
Depreciation and amortization 30 32
Income from operations 16 11
Corporate expenses (50) (62)
Transaction related costs 0 (5)
Restructuring and other expense (1) (1)
Operating Segments    
Segment Reporting Information [Line Items]    
Income from operations 67 79
Corporate    
Segment Reporting Information [Line Items]    
Selling, general and administrative expenses 45 62
Depreciation and amortization 5 5
Michael Kors    
Segment Reporting Information [Line Items]    
Total revenue 635 675
Cost of goods sold 247 256
Michael Kors | Operating Segments    
Segment Reporting Information [Line Items]    
Selling, general and administrative expenses 307 324
Depreciation and amortization 18 20
Income from operations 63 75
Jimmy Choo    
Segment Reporting Information [Line Items]    
Total revenue 162 173
Cost of goods sold 48 57
Jimmy Choo | Operating Segments    
Segment Reporting Information [Line Items]    
Selling, general and administrative expenses 103 105
Depreciation and amortization 7 7
Income from operations $ 4 $ 4
v3.25.2
Segment Information - Schedule of Total Revenue (as Recognized Based on Country of Origin) (Details) - USD ($)
$ in Millions
 3 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total revenue $ 797 $ 848
The Americas    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total revenue 459 503
EMEA    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total revenue 228 215
Asia    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total revenue 110 130
U.S.    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total revenue $ 418 $ 458
v3.25.2
Segment Information - Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Mar. 29, 2025
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total long-lived assets $ 1,818 $ 1,800
Michael Kors    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total long-lived assets 1,200 1,197
Jimmy Choo    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total long-lived assets $ 618 $ 603
v3.25.2
Subsequent Events (Details)
Aug. 07, 2025
shares
Omnibus Incentive Plan 2012 | Subsequent Event  
Subsequent Event [Line Items]  
Number of additional shares authorized (in shares) 2,500,000