LONDON–(BUSINESS WIRE)–Capri Holdings Limited (NYSE: CPRI), a global luxury fashion group, today announced it will donate more than £1 million worth of clothing essentials (coats , sweaters and shoes) from Versace, Jimmy Choo and Michael Kors through the company’s distribution center in Venlo, the Netherlands, to help people displaced by the ongoing war in Ukraine.
To execute this initiative, Capri Holdings uses the collection points created by Venlo Helps Ukraine, a local initiative created to organize the collection of clothing, medical products, non-perishable food and other essential items for distribution in Poland and the Ukrainian border.
After being transported to Warsaw for free by Rutilli, a transport and logistics company that has joined the cause, the donated products will be distributed by A Shop Without Cash Registers, an organization located in Brwinów, Poland. The organization has set up a location in a donated space at the Galeria Brwinów shopping mall, where products and clothes are displayed in a store-like environment, making it easier for refugees to find the items they need .
About Capri Holdings Limited
Capri Holdings Limited is a global luxury fashion group, comprised of iconic brands, Versace, Jimmy Choo and Michael Kors, who are industry leaders in design, style and craftsmanship. Its brands span the full spectrum of fashion’s luxury categories, including women’s and men’s accessories, footwear and ready-to-wear, as well as wearable technology, watches, jewelry, eyewear and full range of scented products. The Company’s goal is to continue to expand the global reach of its brands while ensuring that they retain their independence and proprietary DNA. Capri Holdings Limited is listed on the New York Stock Exchange under the symbol 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, for delivery within Poland and near the Ukrainian border. They also organize accommodation for refugees in Poland and transport refugees from the Ukrainian border to Poland, all supported by volunteers and volunteer transport.
Autotrasporti Rutilli Adolfo Srl is an Italy-based transport and logistics company that has been operating in the fashion supply chain for over thirty years. “Work smart, make a difference” is our philosophy. Transport and logistics for Rutilli are synonymous with connection and sharing of values. Rutilli is committed every day to creating relationships, to reducing distances to connect people and goods throughout Europe.
About a store without cash registers
Providing free clothing and goods to people seeking refuge in Ukraine, A Shop Without Cash Registers was founded by two Polish women who wanted to find their own way to help people in need. As the operation grew, the Galeria Brwinów shopping center provided the initiative with a free space to continue its work by organizing the products and placing them on hangers to offer refugees a more comfortable and convenient to find the items they needed most. The organization has since expanded to a second location focused on legal aid, offering insurance application assistance, temporary employment services, childcare and more.
This press release contains statements that are, or may be deemed to be, “forward-looking statements”. Forward-looking statements are forward-looking in nature and are not based on historical fact, but rather on the current expectations and projections of the management of Capri Holdings Limited (the “Company”) regarding future events, and are therefore subject to risks. and uncertainties that could cause actual results to differ materially from 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, all statements preceded or followed by or that include the words “plans”, “believes”, “expects”, “intends”, “will”, “should”, “could”, “would”, “could”, “anticipate”, “could” or similar words or expressions, are forward-looking statements. These forward-looking statements are not guarantees of future financial performance. These forward-looking statements involve known and unknown risks and uncertainties that could materially affect expected results and are based on certain key assumptions, which could cause actual results to differ materially from those projected or implied in the statements. forward-looking statements. These risks, uncertainties and other factors include the effect of the COVID-19 pandemic and its potential and material impact on the Company’s future financial and operating results if retail stores are forced to close again and the pandemic unfolds. extended, including that our estimates could differ materially if the severity of the COVID-19 situation worsens or if there are further supply chain disruptions, including additional production delays and increased of the costs, duration and severity of this outbreak across the world and the pace of recovery from the COVID-19 pandemic; cash levels and future availability of credit; compliance with covenants under the Company’s credit agreement; the Company’s ability to successfully integrate and realize the anticipated benefits of any acquisition and successfully execute our growth strategies; the risk of disruption to the Company’s business; risks associated with operating in international markets (including the impact of the Russian-Ukrainian conflict) and our global sourcing activities; the risk of cyber threats and breaches of privacy or data security; the adverse effects of events on the market price of the Company’s common stock and its results of operations; significant transaction costs; unknown liabilities; the risk of litigation and/or regulatory actions related to the Company’s activities; fluctuations in demand for the Company’s products; indebtedness levels (including indebtedness incurred in connection with acquisitions); the timing and scope of future share repurchases, which may be conducted on the open market or privately negotiated, and are subject to market conditions, applicable legal requirements, trading restrictions under Company policy insider trading and other relevant factors, and such share repurchases may be suspended or terminated at any time; the level of other investing activities and use of cash; changes in consumer traffic and retail trends; loss of market share and industry competition; fluctuations in capital markets; interest and currency exchange rate fluctuations; the occurrence of unforeseen epidemics and pandemics, disasters or catastrophes; political or economic instability in major markets; unfavorable results in litigation; and general, local and global economic, political, business and market conditions and risks set forth in the Company’s filings with the United States 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 statements in this press release speak only as of the date of this press release and the Company disclaims any obligation to update or revise any forward-looking or other statements contained in this press release other than in accordance with legal and regulatory obligations.
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Source: Capri Holdings Limited