The company and the Woolrich Group have completed the transfer of the related intellectual property rights.
“China will once again be our fastest-growing market in 2025.”
The opening of UR’s New York store has validated the feasibility of Chinese fashion brands expanding overseas.
In the Asia-Pacific market, Brooks saw a 228% year-over-year sales increase in China, the world’s second-largest running market.
The global sports-fashion industry, led by running, undoubtedly continues to find its opportunities in the Chinese market, where high-end opportunities are still emerging.
“We have been overly promotional… the level of markdowns has not only impacted our brand but also disrupted the overall market and the profitability of our partners.”
Sales in the Chinese market grew by high single digits year-over-year on a reported basis, and by low double digits on a constant currency basis.
“The strong performance across each geographic region this quarter highlights the resilience of our diversified growth drivers and the growing strength of our high-end consumer base, giving us the confidence to raise our fiscal year outlook ahead of the critical holiday season.”
During the reporting period, Capri Holdings’ total sales revenue was $1.08 billion, reflecting a 16.4% decline compared to the previous year at both reported and constant currency rates.
In 2020, DVF shifted to a digital-first, China-centered wholesale strategy and signed a global business licensing agreement with Glamel, entrusting them with the responsibility for the brand’s production and sales.
