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Capri Holdings Announces That Versace, Jimmy Choo and Michael Kors Will Donate Product to Victims of the Ukraine War
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Rhea-AI Summary
Capri Holdings Limited (NYSE:CPRI) announced a donation of over €1 million in essential clothing from its brands, Versace, Jimmy Choo, and Michael Kors, to support those displaced by the war in Ukraine. The clothing will be distributed through local initiatives in Poland and Ukraine, utilizing collection points set up by Venlo Helps Ukraine. This initiative also involves logistics support from Rutilli, a transportation company, ensuring the seamless delivery of goods to refugees in need.
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Donation of over €1 million in essential clothing positively impacts brand image and corporate social responsibility.
Utilization of established networks such as Venlo Helps Ukraine enhances logistics efficiency.
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None.
LONDON--(BUSINESS WIRE)--
Capri Holdings Limited (NYSE:CPRI), a global fashion luxury group, today announced that it will be donating over €1 million in essential clothing (coats, sweaters and shoes) from Versace, Jimmy Choo and Michael Kors through the company’s distribution center located in Venlo, Netherlands, to aid those displaced by the ongoing war in Ukraine.
To execute this initiative, Capri Holdings is utilizing the collection points created by Venlo Helps Ukraine, a local initiative created to organize the collection of clothing, medical goods, non-perishable food and other essential items for distribution within Poland and the Ukraine border.
After being transported to Warsaw at no cost by Rutilli, a transportation and logistics company that has joined the cause, the donated products will be distributed through A Shop Without Cash Registers, an organization located in Brwinów, Poland. The organization has set up a location in donated space at the Galeria Brwinów Shopping Center, where the products and clothing are displayed in a store-like environment, making it more convenient for refugees to find the items they need.
About Capri Holdings Limited
Capri Holdings Limited is a global fashion luxury group, consisting of iconic brands, Versace, Jimmy Choo and Michael Kors, that are industry leaders in design, style and craftsmanship. Its brands cover the full spectrum of fashion luxury categories including women’s and men’s accessories, footwear and ready-to-wear as well as wearable technology, watches, jewelry, eyewear and a full line of fragrance products. The Company’s goal is to continue to extend the global reach of its brands while ensuring that they maintain their independence and exclusive DNA. Capri Holdings Limited is publicly listed on the New York Stock Exchange under the ticker CPRI.
About Venlo Helps Ukraine
Venlo Helps Ukraine collects a variety of goods—including clothing, medical supplies, non-perishable food, survival gear and monetary donations—to then deliver them within Poland and near the Ukraine border. They are also organizing housing for refugees in Poland and transporting refugees from the Ukraine border into Poland, all supported by volunteers and volunteer transport.
About Rutilli
Autotrasporti Rutilli Adolfo S.r.l. is a transport and logistic company based in Italy that has been operating for over thirty years in the fashion supply chain. “Work smart, making the difference” is our philosophy. Transport and logistics for Rutilli mean connection and sharing of values. Rutilli is committed every day to create relationships, reducing distances to link people and goods throughout Europe.
About A Shop Without Cash Registers
Providing clothing and goods for free to those seeking refuge from Ukraine, A Shop Without Cash Registers was founded by two women from their own homes in Poland who wanted to find their own way to support those in need. As the operation grew, the Galeria Brwinów Shopping Center provided the initiative with space rent-free to continue their work organizing the products and placing them on hangers to provide a more comfortable and convenient way for the refugees to find the items they most needed. The organization has since expanded to a second location that is geared towards legal aid, providing help with applying for insurance, temporary job services, childcare and more.
Forward-Looking Statements
This press release contains statements which are, or may be deemed to be, “forward-looking statements.” Forward-looking statements are prospective in nature and are not based on historical facts, but rather on current expectations and projections of the management of Capri Holdings Limited (the “Company”) about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. All statements other than statements of historical facts included herein, may be forward-looking statements. Without limitation, any statements preceded or followed by or that include the words “plans”, “believes”, “expects”, “intends”, “will”, “should”, “could”, “would”, “may”, “anticipates”, “might” or similar words or phrases, are forward-looking statements. These forward-looking statements are not guarantees of future financial performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions, which could cause actual results to differ materially from those projected or implied in any forward-looking statements. These risks, uncertainties and other factors include the effect of the COVID-19 pandemic and its potential material and significant impact on the Company’s future financial and operational results if retail stores are forced to close again and the pandemic is prolonged, including that our estimates could materially differ if the severity of the COVID-19 situation worsens, or if there are further supply chain disruptions, including additional production delays and increased costs, the length and severity of such outbreak across the globe and the pace of recovery following the COVID-19 pandemic; levels of cash flow and future availability of credit; compliance with restrictive covenants under the Company’s credit agreement; the Company’s ability to integrate successfully and to achieve anticipated benefits of any acquisition and to successfully execute our growth strategies; the risk of disruptions to the Company’s businesses; risks associated with operating in international markets (including the impact of the Russia-Ukraine conflict) and our global sourcing activities; the risk of cybersecurity threats and privacy or data security breaches; the negative effects of events on the market price of the Company’s ordinary shares and its operating results; significant transaction costs; unknown liabilities; the risk of litigation and/or regulatory actions related to the Company’s businesses; fluctuations in demand for the Company’s products; levels of indebtedness (including the indebtedness incurred in connection with acquisitions); the timing and scope of future share buybacks, which may be made in open market or privately negotiated transactions, and are subject to market conditions, applicable legal requirements, trading restrictions under the Company’s insider trading policy and other relevant factors, and such share repurchases may be suspended or discontinued at any time; the level of other investing activities and uses of cash; changes in consumer traffic and retail trends; loss of market share and industry competition; fluctuations in the capital markets; fluctuations in interest and exchange rates; the occurrence of unforeseen epidemics and pandemics, disasters or catastrophes; political or economic instability in principal markets; adverse outcomes in litigation; and general, local and global economic, political, business and market conditions, as well as those risks set forth in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the fiscal year ended March 27, 2021 (File No. 001-35368). Any forward-looking statement in this press release speaks only as of the date made and the Company disclaims any obligation to update or revise any forward-looking or other statements contained herein other than in accordance with legal and regulatory obligations.
