Photo: Tim Graham/Getty Images
These are the stories making headlines in fashion on Friday.
Capri Holdings reports “disappointing” Q1 earnings
Capri Holdings, which owns Versace, Jimmy Choo and Michael Kors, saw “disappointing” earnings in the first fiscal quarter of 2025, which ended on June 29. The company cited “softening demand globally for fashion luxury goods.” Revenue decreased by 13.2% and gross profit fell by 64.6%, from $812 million to $689 million year-over-year. Versace reported a loss of $17 million, while Jimmy Choo reported the smallest revenue decline of 5.5%. In the press release, CEO John D. Idol also noted the company is continuing to fight the FTC lawsuit seeking to block its acquisition by Tapestry. {Capri Holdings}
E.l.f Beauty increases 2025 earnings outlook
E.l.f reported 50% net sales growth in its most recent quarter. Its net income was $47.6 million with shares up by $0.81. The company has adjusted its 2025 earnings outlook by 5% year-over-year. This quarter marked 22 quarters of consecutive growth for E.l.f., CEO Tarang Amin said in a statement. {E.l.f.}
Cecilie Bahnsen appoints a new CEO
Mie Marie Ejdrup will begin her role as CEO at the Copenhagen-based brand on Sept. 1 succeeding Kristine Hannah Loebner. Previously a mainstay of Copenhagen Fashion Week, Cecilie Bahnsen now shows in Paris. “The Cecilie Bahnsen brand is at a pivotal point with the development of our universe and international expansion,” Bahnsen said in a statement. “I am very excited and proud to welcome Mie to the business, allowing me to continue focusing on executing my creative vision and sustaining continuous growth.” As CEO, Ejdrup will focus on slow fashion processes including made-to-order production and utilizing leftover material. {Fashionista inbox}
Hypebeasts turn their attention to sleepwear
Premium sleepwear is on the rise as streetwear aficionados bring it into their daytime wardrobes, with brand Tekla leading the charge. The popularity of luxury sleepwear began to rise in the pandemic and has continued as PJ brands collaborate with recognizable names and labels including Jacquemus, Tyler, the Creator and Carhartt. {Vogue Business/paywalled}
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Source: Fashionista.com
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