Segment Information (Tables)

12 Months Ended

Mar. 29, 2025

Segment Reporting [Abstract]

Schedule of Key Performance Information of Reportable Segments

The following table presents the key performance information of the Company’s reportable segments (in millions):

		Fiscal Years Ended
		March 29, 2025		March 30, 2024		April 1, 2023
Total revenue:
	Versace	$	821	$	1,030	$	1,106
	Jimmy Choo	605		618		633
	Michael Kors	3,016		3,522		3,880
Total revenue		$	4,442	$	5,170	$	5,619
Cost of goods sold:
	Versace	$	246	$	306	$	277
	Jimmy Choo	200		192		186
	Michael Kors	1,170		1,333		1,432
Total cost of goods sold		$	1,616	$	1,831	$	1,895
Selling, general and administrative expenses:
	Versace	$	571	$	644	$	615
	Jimmy Choo	393		394		380
	Michael Kors	1,426		1,473		1,484
	Corporate	191		273		229
Total selling, general and administrative expenses		$	2,581	$	2,784	$	2,708
Depreciation and amortization:
	Versace	$	58	$	55	$	51
	Jimmy Choo	29		29		29
	Michael Kors	79		82		95
	Corporate	27		22		4
Total depreciation and amortization		$	193	$	188	$	179
(Loss) income from operations:
	Versace	$	(54)	$	25	$	152
	Jimmy Choo	(17)		3		38
	Michael Kors	341		634		868
		270		662		1,058
Less:	Corporate expenses	(233)		(275)		(233)
	Impairment of assets (1)	(797)		(575)		(142)
	Transaction related income (costs)	15		(20)		—
	COVID-19 related charges (2)	—		—		9
	Impact of war in Ukraine (3)	—		—		3
	Restructuring and other expense (4)	(7)		(33)		(16)
(Loss) income from operations		$	(752)	$	(241)	$	679

(1)Impairment of assets during Fiscal 2025 includes $656 million, $91 million and $50 million of impairment charges related to the Versace, Jimmy Choo and Michael Kors reportable segments, respectively. Impairment of assets during Fiscal 2024 includes $283 million, $267 million and $25 million of impairment charges related to the Versace, Jimmy Choo and Michael Kors reportable segments, respectively. Impairment of assets during Fiscal 2023 includes $2 million, $110 million and $30 million of impairment charges related to the Versace, Jimmy Choo and

Michael Kors reportable segments, respectively.

(2)COVID-19 related charges during Fiscal 2023 primarily include net inventory credits of $9 million and are recorded within costs of goods sold in the consolidated statements of operations and comprehensive (loss) income.

(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 (loss) income.

(4)See Note 11 for details on the Company's restructuring program.

Schedule of Total Revenue (as Recognized Based on Country of Origin)

Total revenue (based on country of origin) and long-lived assets by geographic location are as follows (in millions):

	Fiscal Years Ended
	March 29, 2025		March 30, 2024		April 1, 2023
Revenue:
The Americas (1)	$	2,479	$	2,812	$	3,220
EMEA	1,296		1,501		1,542
Asia	667		857		857
Total revenue	$	4,442	$	5,170	$	5,619

	As of
	March 29, 2025		March 30, 2024		April 1, 2023
Long-lived assets:
The Americas (1)	$	857	$	1,031	$	882
EMEA	1,486		1,818		2,129
Asia	499		562		599
Total long-lived assets	$	2,842	$	3,411	$	3,610

(1)Net revenues earned in the United States during Fiscal 2025, Fiscal 2024 and Fiscal 2023 were $2.258 billion, $2.546 billion and $2.951 billion, respectively. Long-lived assets located in the United States as of March 29, 2025, March 30, 2024 and April 1, 2023 were $812 million, $993 million and $826 million, respectively.

Schedule of Long-Lived Assets by Geographic Location

Total revenue (based on country of origin) and long-lived assets by geographic location are as follows (in millions):

	Fiscal Years Ended
	March 29, 2025		March 30, 2024		April 1, 2023
Revenue:
The Americas (1)	$	2,479	$	2,812	$	3,220
EMEA	1,296		1,501		1,542
Asia	667		857		857
Total revenue	$	4,442	$	5,170	$	5,619

	As of
	March 29, 2025		March 30, 2024		April 1, 2023
Long-lived assets:
The Americas (1)	$	857	$	1,031	$	882
EMEA	1,486		1,818		2,129
Asia	499		562		599
Total long-lived assets	$	2,842	$	3,411	$	3,610

(1)Net revenues earned in the United States during Fiscal 2025, Fiscal 2024 and Fiscal 2023 were $2.258 billion, $2.546 billion and $2.951 billion, respectively. Long-lived assets located in the United States as of March 29, 2025, March 30, 2024 and April 1, 2023 were $812 million, $993 million and $826 million, respectively.

Schedule of Net Revenues by Major Product Category

Total revenue by major product category are as follows (in millions):

	Fiscal Years Ended
	March 29, 2025		% of Total	March 30, 2024		% of Total	April 1, 2023		% of Total
Accessories	$	2,183	49.1%	$	2,570	49.7%	$	2,826	50.3%
Footwear	1,237		27.9%	1,151		22.3%	1,217		21.7%
Apparel	601		13.6%	965		18.7%	1,107		19.7%
Licensing revenue	201		4.5%	219		4.2%	211		3.8%
Licensed product	192		4.3%	230		4.4%	222		4.0%
Other	28		0.6%	35		0.7%	36		0.5%
Total revenue	$	4,442		$	5,170		$	5,619