{"version": "https://jsonfeed.org/version/1.1", "title": "Sharemaestro Newsreel: Hong Kong Luxury Goods news", "home_page_url": "https://sharemaestro.com/newsreel/hk/consumer-cyclical/luxury-goods/", "feed_url": "https://sharemaestro.com/newsreel/hk/consumer-cyclical/luxury-goods/feed.json", "description": "Latest Luxury Goods company headlines from Hong Kong, newest first, with source links and direct routes to company research and sentiment.", "language": "en", "items": [{"id": "source:5028fae1b3e78e5ddc4a66bd55225ddbcfe059af4b58d7a1e3ffbd7810820757", "url": "https://finance.yahoo.com/markets/stocks/articles/luxury-retailer-closes-41-stores-164700557.html", "external_url": "https://finance.yahoo.com/markets/stocks/articles/luxury-retailer-closes-41-stores-164700557.html", "title": "Luxury retailer closes 41 stores worldwide", "content_text": "After closing hundreds of stores and offloading a major luxury brand, one of the fashion industry's best-known groups continues to shrink its retail footprint. The move comes as luxury companies navigate a challenging environment marked by softer shopping demand, economic uncertainty, and shifting spending patterns. According to the McKinsey & Company State of Fashion 2026 Report, the global fashion industry is projected to grow only in the low single digits in 2026, due to macroeconomic volatility, tariff pressures, and weaker consumer sentiment. Now, another iconic luxury group is rethinking its footprint while attempting to strengthen its remaining brands and return to growth. The company began in 1981 as Michael Kors Holdings Limited and changed its name to Capri Holdings Limited in 2018 following its acquisition of Jimmy Choo. It later added Versace to its portfolio before selling the brand to Prada Group in 2025. Capri Holdings closes 41 stores Capri Holdings (CPRI) had 871 retail locations as of June 27, 2026, down 41 stores from the 912 it had a year earlier, according to Modaes. The closures included 33 Michael Kors stores and eight Jimmy Choo locations. Michael Kors had 662 stores as of June 27, down from 695 a year earlier, while Jimmy Choo had 209, down from 217. The closures come as Capri Holdings experiences uneven performance across its brands. During the first quarter of fiscal 2027, the company reported: Net revenue decreased 3.5% year over year to $769 million. Michael Kors' revenue fell 7.1% to $590 million. Jimmy Choo's revenue increased 10.5% to $179 million. The latest closures continue a recent pattern for the retailer. During the same quarter a year earlier, Capri Holdings closed 79 locations, according to its first-quarter fiscal 2026 earnings report. The store reductions highlight how Capri Holdings is cutting locations and expenses while investing in its brands, stores, and digital operations to reignite growth. Capri Holdings previously owned Versace, which was acquired by the Prada Group in December 2025 in a cash deal valued at \u20ac1.25 billion, or approximately $1.44 billion. The narrower portfolio gives Capri Holdings a more focused approach as it works to revive growth across its two remaining brands. The deal also marked the end of Donatella Versace's nearly 30-year leadership of the brand. Capri Holdings' new strategy to boost growth Alongside the closures, Capri Holdings outlined five key priorities to turn around its brands. Strengthen brand appeal through storytelling. Develop fashion that reflects each brand's heritage while emphasizing design and innovation. Improve the customer experience across digital and physical channels. Use data analytics to personalize interactions. Invest cash flow in store renovations, technology, and digital improvements, while continuing share buybacks. Story Continues The strategy comes as the company's two remaining brands follow significantly different trajectories. Capri Holdings expects Jimmy Choo to grow and return to profitability, while Michael Kors continues to face headwinds. The company cited lower-than-anticipated inventory levels in the second quarter, softer trends in EMEA, and updated foreign currency exchange-rate assumptions as factors affecting its outlook. Capri Holdings now expects fiscal 2027 revenue of approximately $3.4 billion, below its earlier expectations. The company lowered its forecast for Michael Kors, while increasing it for Jimmy Choo. Capri Holdings also plans to reduce expenses while maintaining its earnings-per-share outlook of approximately $2.15, representing 40% growth over the prior year. \"We remain optimistic about Capri Holdings' future,\" said Capri Holdings CEO John Idol during the company's first-quarter earnings call. \"Across Michael Kors and Jimmy Choo, we have clear strategies focused on elevating brand desirability, deepening consumer engagement, strengthening product innovation, and improving the quality of our sa", "date_published": "2026-08-11T16:47:00+00:00", "authors": [{"name": "finance.yahoo.com"}], "tags": ["Market update", "1913"], "_sharemaestro": {"country": "Hong Kong", "coverage": "Provider-linked mention", "market_context": null, "companies": [{"symbol": "1913", "name": "Prada S.p.A.", "sentiment_url": "https://sharemaestro.com/sentiment/06336161-fa3f-48b6-8e55-d3f358c1dd7c/"}]}}, {"id": "source:36ea7abe7e1d6d2a3aadce92c9fc6f0acdd12f5daea954bc99fc0d16bbd841b7", "url": "https://finance.yahoo.com/markets/world-indices/articles/oil-outlook-damps-asian-stock-103836917.html", "external_url": "https://finance.yahoo.com/markets/world-indices/articles/oil-outlook-damps-asian-stock-103836917.html", "title": "Oil Outlook Damps Asian Stock Marlets", "content_text": "Asian stock markets waffled lower Tuesday, as traders weighed the lengthening impasse regarding an o PREMIUM Upgrade to read this MT Newswires article and get so much more. 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Sign in", "date_published": "2026-08-11T10:38:36+00:00", "authors": [{"name": "finance.yahoo.com"}], "tags": ["Market update", "6181"], "_sharemaestro": {"country": "Hong Kong", "coverage": "Main company", "market_context": null, "companies": [{"symbol": "6181", "name": "Laopu Gold Co., Ltd.", "sentiment_url": "https://sharemaestro.com/sentiment/9f12e455-a372-4f17-a84f-28190ec8904d/"}]}}, {"id": "source:8f6316c51c5eebce06f83b17bba5d84d0975ccc7e17c5d0e3f2fde2ed5e4333b", "url": "https://news.google.com/rss/articles/CBMixgFBVV95cUxNNTNBRk9rVFlRTEwzdXpTYTJoNGYwMTRpX2xQTFZ6c05ubXVoZkJQMjRIeThSTUhkS0dNd3lhbjBtcGpHNnAwSEpLOWFUZnRqNG96ZTZJXzI4RnhOVEZCY0hyaU5Vem5FOTVGMU5mU290NFhVanMwelhuNjI4Si1LRVRORGdLQlFCS2RXcWRVdTVpRHR4UEhaUDhfVXNPM0NpSEhoUER3REJEY2FRZG90eUFMS1d5d08yMVkteFJRVUdhVk53emc?oc=5", "external_url": 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"content_text": "Prosper One International Exits Watch Wholesale as 2026 Profit Slips", "date_published": "2026-07-31T11:43:02+00:00", "authors": [{"name": "TipRanks"}], "tags": ["Earnings", "1470"], "_sharemaestro": {"country": "Hong Kong", "coverage": "Main company", "market_context": null, "companies": [{"symbol": "1470", "name": "Prosper One International Holdings Company Limited", "sentiment_url": "https://sharemaestro.com/sentiment/14df71a4-8ac8-44c0-9d34-ebd7aeda0222/"}]}}, {"id": "source:889edeeca1e8e1c62398c088057aa453de8b80a5638b3557729fe04ff9067ef5", "url": "https://news.google.com/rss/articles/CBMi5wFBVV95cUxNZnd2cURjVm0wbVpRR1VmaGkxaHB1ZUNONURpSUF6Vkl1aXA4aG9JSzM2RWJxY0p2amtTUlhMcWFlVnZKaFUtck5iX3daVld0VU13b2Z3SFhUWTJfa1hvTjE5WVMzdDNBMXhQaElhRUhYTE5KNl9OQm1OTEhoOU1rMXpOazhVLUFrbEdRdmotY1VDNmZra002YkdjNmlHOVo0SDl2c3pCeXpBTkRid0FneFFQcGhKMTdIcGM5dzJwTnBmUER1bGZTdGFkSWpsX3l0TWVUa2JMMG42MEJ3YmlwTTdISmJuMm8?oc=5", "external_url": 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