These are the stories making headlines in the fashion industry on Friday.
Capri Holdings reports “disappointing” first quarter results
Capri Holdings, which owns Versace, Jimmy Choo and Michael Kors, reported “disappointing” earnings in its first fiscal quarter of 2025, which ended June 29. The company cited “a slowdown in global demand for luxury fashion.” Revenue fell 13.2% and gross profit fell 64.6% year-over-year, from $812 million to $689 million. Versace reported a loss of $17 million, while Jimmy Choo saw the smallest drop in revenue at 5.5%. In the press release, CEO John D. Idol also noted that the company continues to fight the FTC’s lawsuit seeking to block its acquisition by Tapestry. {Capri Holdings}
Elf Beauty increases earnings forecast for 2025
Elf reported 50% revenue growth last quarter. Net income was $47.6 million, with shares up $0.81. The company revised its 2025 earnings forecast by 5% year-over-year. This quarter marked Elf’s 22nd quarter of consecutive growth, CEO Tarang Amin said in a statement. {Elf}
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Cecilie Bahnsen appoints a new CEO
Mie Marie Ejdrup will take up her role as CEO of the Copenhagen-based brand on September 1, replacing Kristine Hannah Loebner. Cecilie Bahnsen, who was previously a mainstay of Copenhagen Fashion Week, now presents her fashion in Paris. “The Cecilie Bahnsen brand is at a crucial point in the development of our universe and international expansion,” Bahnsen said in a statement. “I am very excited and proud to welcome Mie to the company. This will allow me to continue to focus on implementing my creative vision and maintaining continuous growth.” As CEO, Ejdrup will focus on slow fashion processes, including production to order and the use of leftover materials. {Fashionista inbox}
Hypebeasts turn their attention to nightwear
High-quality sleepwear is on the rise as streetwear fans incorporate it into their daytime wardrobe, with brand Tekla leading the way here. The popularity of luxury sleepwear began to rise during the pandemic and has continued, with pajama brands collaborating with household names and labels such as Jacquemus, Tyler, the Creator and Carhartt. {fashion Business/Paywall}
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