Facebook Pinterest Search Icon SourcingJournal_horiz Tumbler Twitter Shape photo-camera graph-trend Shape latest-news icon / user

Versace Owner Closes 150 China Stores, Sees Virus Slashing Revenue By $100M

When it’s deliver-or-die, supply chains become the lifeblood of a company. To that end, the fashion industry has embraced technology to navigate today’s hyper-complicated supply chain, with myriad solutions shaping the first, middle and last mile. Call it Sourcing 2.0.

Versace parent company Capri Holdings Ltd. closed more than half of its Mainland China store fleet as of Feb. 5, citing the coronavirus outbreak for the temporary measures. While the luxury holding firm easily beat Wall Street’s third-quarter estimates, the public health emergency has taken a toll on the company’s current fourth quarter and could pare revenues,…

This content is for Annual and Limited members only. You can read up to five free articles each month with a Limited Level Subscription. Please log in, or subscribe.

Log In Subscribe

More from our brands

Access exclusive content Become a Member Today!