In Brief: Shares of Versace, Jimmy Choo, Coach, Stuart Weitzman, Ferrari, and other luxury brands reflect not only social class but also stock market growth.
Capri Holding (CPRI: NYSE)
It is no secret that Michael Kors, Versace, and Jimmy Choo are some of the most prestigious fashion brands under Capri Holdings, a company that offers upscale accessories and apparel to their customers. With a full line of fragrance products and accessories for women and men, Capri Holdings Limited offers watches, jewelry, eyewear, and wearable technology.
Capri Holdings’ net worth as of February 03, 2023, is $8.75B.
Based on analysts’ average price targets, Capri Holdings has a 3.16% upside potential.
What is Capri Holdings’ price target?
The average price target for Capri Holdings is $68.20. This is based on 10 Wall Streets Analysts’ 12-month price targets, issued in the past 3 months. The highest analyst price target is $75.00, the lowest forecast is $58.00. The average price target represents a 3.16% Increase from the current price of $66.36. (at the time of writing).
The investment fund Quantinno Capital Management invests $695,000 in Capri Holdings Limited. The investment fund purchased 18,085 shares of the company’s stock for approximately $695,000.
*Q3 2023 Capri Holdings Earnings, February 8, 2023.
- Total revenue of $1.51 billion decreased by 6.0% compared to the same quarter last year.
- Adjusted earnings per share of $1.84
Fiscal Year Q4 Outlook, the Company expects the following:
- Total revenue of approximately $1.275 billion
- Diluted earnings per share of $0.90-$0.95
“We remain confident in our ability to achieve our long-term goals over time due to the resilience of the luxury industry, the strength of our portfolio of luxury houses and the talented group of employees executing our strategic initiatives.” – John D. Idol, Capri’s CEO
Ferrari is one of the world’s leading luxury brands. It develops, engineers, produces, and sells the world’s most recognizable luxury performance sports cars. Known for its exclusiveness, innovation, and state-of-the-art sporting performance, the Ferrari brand represents elegance, innovation, and Italian design. As the most successful Formula 1 team in history, Scuderia Ferrari, has shaped the brand’s history and image. A Ferrari car is designed, engineered, and produced in Maranello, Italy, and sold in over 60 countries worldwide.
Ferrari Next Projection 2023.
Ferrari extends its partnership with EssilorLuxottica On December 15, 2022, Ferrari announced that Ferrari S.p.A. had renewed and expanded the partnership with EssilorLuxottica that began in 2016.
Asahi Europe & International
On January 16, 2023, Ferrari announced that Ferrari S.p.A., a wholly-owned Italian subsidiary of Ferrari N.V., today has signed a multiyear agreement with Asahi Europe & International, Ltd effective from January 1, 2024.
Based on 8 Wall Street analysts offering 12-month price targets for Ferrari in the last 3 months. The average price target is $280.98 with a high forecast of $330.00 and a low forecast of $225.00. The average price target represents a 7.53% change from the last price of $261.31. (at the time of writing)
Ferrari stock’s YTD price had risen over 20.40%.
In order to combat inflation, Ferrari highlighted its decision to increase its retail price. In Ferrari’s case, market rates are not determined by the ability of the collective consumer base to pay, but rather by the benefits that its customers are able to get from purchasing its product due to its exclusivity and social status. Owning a Ferrari screams an unspoken rule that the owner is wealthy.
Furthermore, as the wealth gap widens, this social inequity will only serve to raise Ferrari’s stocks even further.
Tapestry Inc (TPR: NYSE)
Originally known as Coach Inc. The Tapestry Group is a multinational fashion holding company with headquarters in New York City. It is the parent company of three major brands: Coach New York, Kate Spade New York, and Stuart Weitzman.
Tapestry Profits forecasts $1.27/share for Q4 based on a mean Refinitiv estimate from seventeen analysts.
Based on 13 Wall Street analysts offering 12-month price targets for Tapestry in the last 3 months. The average price target is $45.31 with a high forecast of $52.00 and a low forecast of $36.00. The average price target represents a 1.48% change from the last price of $44.65. (at the time of writing)
Tapestry’s Evolved ESG Strategy
- New science-based targets submitted to the Science Based Targets Initiative (SBTi) for validation to reduce absolute Scope 1, 2, and 3 GHG emissions by 42.5% below FY2021 levels by FY2030 and achieve net zero by 2050.
- Increased the percentage of renewable energy use to 67% across Tapestry’s own stores, offices, and fulfillment centers.
- The volunteering goal has been updated to 500,000 hours by 2030. After achieving its 2025 goal of 100,000 hours two and a half years early, Tapestry has set this new target to follow up on the achievement of its previous 2025 goal.
- Key raw materials and manufacturing processes are being targeted as environmentally preferred materials.
- As part of Tapestry’s commitment to transparency and supply chain traceability, the Tapestry Foundation launched a $3 million four-year partnership with World Wildlife Fund (WWF) to develop a standard for certifying deforestation-free and conversion-free (DCF) leather originating from Brazil.
“We will continue to listen, learn, and make progress as we strive to make a positive impact on our people, our communities, and the planet.” – Joanne Crevoiserat, CEO Tapestry, Inc.
**Q2 2023 Tapestry Inc – Earnings Conference Call, February 9, 2023.
According to the U.S. Census Bureau, the share of total net wealth held by the top 1% of society was 29.7% in Q1 2020. As of two years after the pandemic, this metric rise to 31.9%. Essentially, this means that the proportion of people who are able to afford luxury products has expanded during this period, which is great news for the luxury products market segment.
- Ferrari <PDF>
- Capri <PDF>
- Tapestry – https://www.tapestry.com/responsibility/, Investor <Docs>
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