The Company operates its business through three operating segments—Versace, Jimmy Choo and Michael Kors, which are based on its business activities and organization. The reportable segments are segments of the Company for which separate financial information is available and for which operating results are evaluated regularly by the Company’s chief operating decision maker (“CODM”) in deciding how to allocate resources, as well as in assessing performance. The primary key performance indicators are revenue and operating income for each segment. The Company’s reportable segments represent components of the business that offer similar merchandise, customer experience and sales/marketing strategies.

•Versace — segment includes revenue generated through the sale of Versace luxury ready-to-wear, accessories, footwear and home furnishings through directly operated Versace boutiques throughout North America (United States and Canada), EMEA and certain parts of Asia, as well as through Versace outlet stores and e-commerce sites. In addition, revenue is generated through wholesale sales to distribution partners (including geographic licensing arrangements that allow third parties to use the Versace trademarks in connection with retail and/or wholesale sales of Versace branded products in specific geographic regions), multi-brand department stores and specialty stores worldwide, as well as through product license agreements in connection with the manufacturing and sale of jeans, fragrances, watches, jewelry and eyewear.

•Jimmy Choo — segment includes revenue generated through the sale of Jimmy Choo luxury footwear, handbags and small leather goods through directly operated Jimmy Choo retail and outlet stores throughout the Americas, EMEA and certain parts of Asia, through its e-commerce sites, as well as through wholesale sales of luxury goods to distribution partners (including geographic licensing arrangements that allow third parties to use the Jimmy Choo trademarks in connection with retail and/or wholesale sales of Jimmy Choo branded products in specific geographic regions), multi-brand department stores and specialty stores worldwide. In addition, revenue is generated through product licensing agreements, which allow third parties to use the Jimmy Choo brand name and trademarks in connection with the manufacturing and sale of fragrances, sunglasses and eyewear.

•Michael Kors — segment includes revenue generated through the sale of Michael Kors products through four primary Michael Kors retail store formats: “Collection” stores, “Lifestyle” stores (including concessions), outlet stores and e-commerce sites, through which the Company sells Michael Kors products, as well as licensed products bearing the Michael Kors name, directly to the end consumer throughout the Americas, Europe and certain parts of Asia. The Company also sells Michael Kors products directly to department stores, primarily located across the Americas and Europe, to specialty stores and travel retail shops, and to its geographic licensees. In addition, revenue is generated through product and geographic licensing arrangements, which allow third parties to use the Michael Kors brand name and trademarks in connection with the manufacturing and sale of products, including watches, jewelry, fragrances and eyewear.

In addition to these reportable segments, the Company has certain corporate costs that are not directly attributable to its brands and, therefore, are not allocated to segments. Such costs primarily include certain administrative, corporate occupancy, and information systems expenses, including enterprise resource planning system implementation costs. In addition, certain other costs are not allocated to segments, including restructuring and other charges (including transition costs related to the Company’s recent acquisitions), impairment costs and COVID-19 related charges. The segment structure is consistent with how the Company’s CODM plans and allocates resources, manages the business and assesses performance. All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance.


		Fiscal Years Ended
		March 28, 2020				March 30, 2019				March 31, 2018
Total revenue:
	Versace	$	843			$	137			$	—
	Jimmy Choo	555				590				223
	Michael Kors	4,153				4,511				4,496
Total revenue				$	5,551			$	5,238			$	4,719

(Loss) income from operations:
	Versace	$	(8)			$	(11)			$	—
	Jimmy Choo	(13)				20				(4)
	Michael Kors	850				964				975
Total segment income from operations				829				973				971
Less:	Corporate expenses	(152)				(93)				(87)
	Restructuring and other charges	(42)				(124)				(102)
	Impairment of assets ⁽¹⁾	(708)				(21)				(33)
	COVID-19 related charges ⁽²⁾	(119)				—				—
Total (loss) income from operations				$	(192)			$	735			$	749

⁽¹⁾Impairment of assets during Fiscal 2020 includes $434 million, $187 million and $87 million of impairment charges related to the Jimmy Choo, Michael Kors and Versace reportable segments, respectively. The impairment charges during Fiscal 2019 and Fiscal 2018 were primarily related to the Michael Kors reportable segment.

⁽²⁾COVID-19 related charges primarily include additional inventory reserves and bad debt expense of $92 million and $25 million, respectively, recorded within costs of goods sold and selling, general and administrative expenses in the consolidated statements of operations.


	Fiscal Years Ended
	March 28, 2020		March 30, 2019		March 31, 2018
Depreciation and amortization⁽¹⁾:
Versace	$	61	$	9	$	—
Jimmy Choo	33		34		13
Michael Kors	155		182		195
Total depreciation and amortization	$	249	$	225	$	208


	Fiscal Years Ended
	March 28, 2020		March 30, 2019		March 31, 2018
Revenue:
The Americas (U.S., Canada and Latin America)⁽¹⁾	$	3,115	$	3,182	$	3,033
EMEA	1,523		1,279		1,093
Asia	913		777		593
Total revenue	$	5,551	$	5,238	$	4,719


	As of
	March 28, 2020		March 30, 2019		March 31, 2018
Long-lived assets: ⁽¹⁾
The Americas (U.S., Canada and Latin America)⁽²⁾	$	1,132	$	319	$	328
EMEA	2,432		2,123		1,050
Asia	608		466		441
Total Long-lived assets:	$	4,172	$	2,908	$	1,819

⁽²⁾Net revenues earned in the U.S. during Fiscal 2020, Fiscal 2019, and Fiscal 2018 were $2.898 billion, $2.972 billion and $2.818 billion, respectively. Long-lived assets located in the U.S. as of March 28, 2020 and March 30, 2019 were $1.060 billion and $296 million, respectively.

As of March 28, 2020 and March 30, 2019, the Company's total assets were $7.946 billion and $6.650 billion, respectively. The increase in total assets was primarily due to the adoption of ASU 2016-02 in the first quarter of Fiscal 2020. As of March 28, 2020, the Company had operating lease right-of-use assets recorded on its consolidated balance sheets of $1.625 billion, of which $968 million related to Michael Kors, $457 million related to Versace, and $200 million related to Jimmy Choo.


	Fiscal Years Ended
	March 28, 2020		% of Total	March 30, 2019		% of Total		March 31, 2018		% of Total
Accessories	$	2,933	52.8%	$	3,139	59.9	%	$	3,057	64.8	%
Footwear	1,100		19.8%	1,023		19.5	%	657		13.9	%
Apparel	1,069		19.3%	698		13.3	%	605		12.8	%
Licensed product	222		4.0%	218		4.2	%	250		5.3	%
Licensing revenue	201		3.6%	156		3.0	%	150		3.2	%
Other	26		0.5%	4		0.1	%	—		—	%
Total Revenue	$	5,551		$	5,238			$	4,719