Capri Holdings' recent earnings report revealed a significant 15% drop in Versace's sales, primarily attributed to the brand's overemphasis on the quiet luxury trend and a reduction in lower-priced goods. CEO John Idol highlighted that while the strategy aimed to elevate the brand's luxury appeal, it inadvertently alienated some customers by eliminating too many unique products. Additionally, the decrease in entry-level offerings impacted retail revenue. Looking ahead, Idol emphasized the need for a balanced assortment to regain customer interest and boost sales for Versace.
Versace's revenue dipped 15% due to excessive focus on the quiet luxury trend and a decrease in lower-priced offerings.
CEO John Idol acknowledged that while luxury and craftsmanship aligned with market demands, the removal of unique Versace items hurt sales.
Collection
[
|
...
]