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Segment Information
 12 Months Ended
Apr. 01, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates its business through three operating segments — Versace, Jimmy Choo and Michael Kors, which are based on its business activities and organization. The reportable segments are segments of the Company for which separate financial information is available and for which operating results are evaluated regularly by the Company’s chief operating decision maker (“CODM”) in deciding how to allocate resources, as well as in assessing performance. The primary key performance indicators are revenue and operating income for each segment. The Company’s reportable segments represent components of the business that offer similar merchandise, customer experience and sales/marketing strategies.
The Company’s three reportable segments are as follows:
•Versace — segment includes revenue generated through the sale of Versace luxury ready-to-wear, accessories and footwear through directly operated Versace boutiques throughout the Americas, certain parts of EMEA and certain parts of Asia, as well as through Versace outlet stores and e-commerce sites. In addition, revenue is generated through wholesale sales to distribution partners (including geographic licensing arrangements that allow third-parties to use the Versace trademarks in connection with retail and/or wholesale sales of Versace branded products in specific geographic regions), multi-brand department stores and specialty stores worldwide, as well as through product license agreements in connection with the manufacturing and sale of jeans, fragrances, watches, jewelry, eyewear and home furnishings.
•Jimmy Choo — segment includes revenue generated through the sale of Jimmy Choo luxury footwear, handbags and small leather goods through directly operated Jimmy Choo retail and outlet stores throughout the Americas, certain parts of EMEA and certain parts of Asia, through its e-commerce sites, as well as through wholesale sales of luxury goods to distribution partners (including geographic licensing arrangements that allow third-parties to use the Jimmy Choo trademarks in connection with retail and/or wholesale sales of Jimmy Choo branded products in specific geographic regions), multi-brand department stores and specialty stores worldwide. In addition, revenue is generated through product licensing agreements, which allow third-parties to use the Jimmy Choo brand name and trademarks in connection with the manufacturing and sale of fragrances and eyewear.
•Michael Kors — segment includes revenue generated through the sale of Michael Kors products through four primary Michael Kors retail store formats: “Collection” stores, “Lifestyle” stores (including concessions), outlet stores and e-commerce sites, through which the Company sells Michael Kors products, as well as licensed products bearing the Michael Kors name, directly to consumers throughout the Americas, certain parts of EMEA and certain parts of Asia. The Company also sells Michael Kors products directly to department stores, primarily located across the Americas and Europe, to specialty stores and travel retail shops, and to its geographic licensees. In addition, revenue is generated through product and geographic licensing arrangements, which allow third-parties to use the Michael Kors brand name and trademarks in connection with the manufacturing and sale of products, including watches, jewelry, fragrances and eyewear.
In addition to these reportable segments, the Company has certain corporate costs that are not directly attributable to its brands and, therefore, are not allocated to its segments. Such costs primarily include certain administrative, corporate occupancy, shared service and information systems expenses, including enterprise resource planning system implementation costs and Capri transformation program costs. In addition, certain other costs are not allocated to segments, including restructuring and other charges, impairment costs, COVID-19 related charges and the war in Ukraine. The segment structure is consistent with how the Company’s CODM plans and allocates resources, manages the business and assesses performance. All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance.
The following table presents the key performance information of the Company’s reportable segments (in millions):
 Fiscal Years Ended
 April 1,
2023		April 2,
2022		March 27,
2021
Total revenue:
Versace$1,106 $1,088 $718 
Jimmy Choo633 613 418 
Michael Kors3,880 3,953 2,924 
Total revenue$5,619 $5,654 $4,060 
Income (loss) from operations:
Versace$152 $185 $21 
Jimmy Choo38 13 (55)
Michael Kors868 1,005 595 
Total segment income from operations1,058 1,203 561 
Less:Corporate expenses(233)(190)(152)
Impairment of assets (1)
(142)(73)(316)
COVID-19 related charges (2)
9 14 (42)
Impact of war in Ukraine (3)
3 (9)— 
Restructuring and other charges(16)(42)(32)
Total income from operations$679 $903 $19 
(1)Impairment of assets during Fiscal 2023 include $110 million, $30 million and $2 million of impairment charges related to the Jimmy Choo, Michael Kors and Versace reportable segments, respectively. Impairment of assets during Fiscal 2022 includes $50 million, $19 million and $4 million of impairment charges related to the Michael Kors, Versace and Jimmy Choo reportable segments, respectively. Impairment of assets during Fiscal 2021 includes $191 million, $91 million and $34 million of impairment charges related to the Jimmy Choo, Michael Kors and Versace reportable segments, respectively.
(2)COVID-19 related charges during Fiscal 2023, primarily include net inventory credits of $9 million. COVID-19 related charges during Fiscal 2022, primarily include net inventory credits and severance expense of $16 million and $2 million, respectively. COVID-19 related charges during Fiscal 2021, primarily include net inventory reserves and severance expense of $10 million and $24 million, respectively. Inventory related costs are recorded within costs of goods sold and severance expense and credit losses are recorded within selling, general and administrative expenses in the consolidated statements of operations and comprehensive income (loss).
(3)These charges primarily relate to incremental credit losses and inventory reserves which are a direct impact of the war in Ukraine. Credit losses are recorded within selling, general and administrative expenses and inventory related costs are recorded within costs of goods sold in the consolidated statements of operations and comprehensive income (loss).
Depreciation and amortization expense for each segment are as follows (in millions):
 Fiscal Years Ended
 April 1,
2023		April 2,
2022		March 27,
2021
Depreciation and amortization:
Versace$51 $52 $54 
Jimmy Choo29 31 31 
Michael Kors95 110 127 
Corporate4 — — 
Total depreciation and amortization$179 $193 $212 
See Note 8 for the Company’s goodwill by reportable segment.
Total revenue (based on country of origin) and long-lived assets by geographic location are as follows (in millions):
 Fiscal Years Ended
 April 1,
2023		April 2,
2022		March 27,
2021
Revenue:
The Americas (1)
$3,220 $3,210 $2,172 
EMEA1,542 1,489 1,029 
Asia 857 955 859 
Total revenue$5,619 $5,654 $4,060 
 As of
April 1,
2023		April 2,
2022		March 27,
2021
Long-lived assets:
The Americas (1)
$882 $908 $1,001 
EMEA2,129 2,156 2,384 
Asia 599 617 596 
Total long-lived assets$3,610 $3,681 $3,981 
(1)Net revenues earned in the United States during Fiscal 2023, Fiscal 2022 and Fiscal 2021 were $2.951 billion, $2.989 billion and $2.016 billion, respectively. Long-lived assets located in the United States as of April 1, 2023, April 2, 2022 and March 27, 2021 were $826 million, $858 million and $942 million, respectively.

As of April 1, 2023, the Company’s total long-lived assets on its consolidated balance sheet were $3.610 billion, of which, $1.691 billion related to Versace, $1.333 billion related to Michael Kors and $586 million related to Jimmy Choo.
Total revenue by major product category are as follows (in millions):
 Fiscal Years Ended
 April 1,
2023		% of
Total		April 2,
2022		% of
Total		March 27,
2021		% of
Total
Accessories$2,826 50.3 %$2,901 51.3 %$2,158 53.2 %
Footwear1,217 21.7 %1,208 21.4 %796 19.6 %
Apparel1,107 19.7 %1,027 18.2 %720 17.7 %
Licensed product222 4.0 %241 4.3 %185 4.6 %
Licensing revenue211 3.8 %212 3.7 %155 3.8 %
Other36 0.5 %65 1.1 %46 1.1 %
Total revenue$5,619 $5,654 $4,060