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v3.25.1

Segment Information (Tables) | 12 Months Ended
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Mar. 29, 2025
Segment Reporting [Abstract] |
Schedule of Key Performance Information of Reportable Segments | The following table presents the key performance information of the Company’s reportable segments (in millions):
|  | Fiscal Years Ended
|  | March 29, 2025 |  | March 30, 2024 |  | April 1, 2023
Total revenue: |  |  |  |  |
| Versace | $ | 821 |  |  | $ | 1,030 |  |  | $ | 1,106 |
| Jimmy Choo | 605 |  |  | 618 |  |  | 633 |
| Michael Kors | 3,016 |  |  | 3,522 |  |  | 3,880 |
Total revenue | $ | 4,442 |  |  | $ | 5,170 |  |  | $ | 5,619 |
Cost of goods sold: |  |  |  |  |
| Versace | $ | 246 |  |  | $ | 306 |  |  | $ | 277 |
| Jimmy Choo | 200 |  |  | 192 |  |  | 186 |
| Michael Kors | 1,170 |  |  | 1,333 |  |  | 1,432 |
Total cost of goods sold | $ | 1,616 |  |  | $ | 1,831 |  |  | $ | 1,895 |
Selling, general and administrative expenses: |  |  |  |  |
| Versace | $ | 571 |  |  | $ | 644 |  |  | $ | 615 |
| Jimmy Choo | 393 |  |  | 394 |  |  | 380 |
| Michael Kors | 1,426 |  |  | 1,473 |  |  | 1,484 |
| Corporate | 191 |  |  | 273 |  |  | 229 |
Total selling, general and administrative expenses | $ | 2,581 |  |  | $ | 2,784 |  |  | $ | 2,708 |
Depreciation and amortization: |  |  |  |  |
| Versace | $ | 58 |  |  | $ | 55 |  |  | $ | 51 |
| Jimmy Choo | 29 |  |  | 29 |  |  | 29 |
| Michael Kors | 79 |  |  | 82 |  |  | 95 |
| Corporate | 27 |  |  | 22 |  |  | 4 |
Total depreciation and amortization | $ | 193 |  |  | $ | 188 |  |  | $ | 179 |
(Loss) income from operations: |  |  |  |  |
| Versace | $ | (54) |  |  | $ | 25 |  |  | $ | 152 |
| Jimmy Choo | (17) |  |  | 3 |  |  | 38 |
| Michael Kors | 341 |  |  | 634 |  |  | 868 |
| 270 |  |  | 662 |  |  | 1,058 |
Less: | Corporate expenses | (233) |  |  | (275) |  |  | (233) |
| Impairment of assets (1) | (797) |  |  | (575) |  |  | (142) |
| Transaction related income (costs) | 15 |  |  | (20) |  |  | — |
| COVID-19 related charges (2) | — |  |  | — |  |  | 9 |
| Impact of war in Ukraine (3) | — |  |  | — |  |  | 3 |
| Restructuring and other expense (4) | (7) |  |  | (33) |  |  | (16) |
(Loss) income from operations | $ | (752) |  |  | $ | (241) |  |  | $ | 679 |
(1)Impairment of assets during Fiscal 2025 includes $656 million, $91 million and $50 million of impairment charges related to the Versace, Jimmy Choo and Michael Kors reportable segments, respectively. Impairment of assets during Fiscal 2024 includes $283 million, $267 million and $25 million of impairment charges related to the Versace, Jimmy Choo and Michael Kors reportable segments, respectively. Impairment of assets during Fiscal 2023 includes $2 million, $110 million and $30 million of impairment charges related to the Versace, Jimmy Choo and Michael Kors reportable segments, respectively. (2)COVID-19 related charges during Fiscal 2023 primarily include net inventory credits of $9 million and are recorded within costs of goods sold in the consolidated statements of operations and comprehensive (loss) income. (3)These charges primarily relate to incremental credit losses and inventory reserves which are a direct impact of the war in Ukraine. Credit losses are recorded within selling, general and administrative expenses and inventory related costs are recorded within costs of goods sold in the consolidated statements of operations and comprehensive (loss) income. (4)See Note 11 for details on the Company's restructuring program.
Schedule of Total Revenue (as Recognized Based on Country of Origin) | Total revenue (based on country of origin) and long-lived assets by geographic location are as follows (in millions):
| Fiscal Years Ended
| March 29, 2025 |  | March 30, 2024 |  | April 1, 2023
Revenue: |  |  |  |  |
The Americas (1) | $ | 2,479 |  |  | $ | 2,812 |  |  | $ | 3,220 |
EMEA | 1,296 |  |  | 1,501 |  |  | 1,542 |
Asia | 667 |  |  | 857 |  |  | 857 |
Total revenue | $ | 4,442 |  |  | $ | 5,170 |  |  | $ | 5,619 |
| As of
| March 29, 2025 |  | March 30, 2024 |  | April 1, 2023
Long-lived assets: |  |  |  |  |
The Americas (1) | $ | 857 |  |  | $ | 1,031 |  |  | $ | 882 |
EMEA | 1,486 |  |  | 1,818 |  |  | 2,129 |
Asia | 499 |  |  | 562 |  |  | 599 |
Total long-lived assets | $ | 2,842 |  |  | $ | 3,411 |  |  | $ | 3,610 |
(1)Net revenues earned in the United States during Fiscal 2025, Fiscal 2024 and Fiscal 2023 were $2.258 billion, $2.546 billion and $2.951 billion, respectively. Long-lived assets located in the United States as of March 29, 2025, March 30, 2024 and April 1, 2023 were $812 million, $993 million and $826 million, respectively.
Schedule of Long-Lived Assets by Geographic Location | Total revenue (based on country of origin) and long-lived assets by geographic location are as follows (in millions):
| Fiscal Years Ended
| March 29, 2025 |  | March 30, 2024 |  | April 1, 2023
Revenue: |  |  |  |  |
The Americas (1) | $ | 2,479 |  |  | $ | 2,812 |  |  | $ | 3,220 |
EMEA | 1,296 |  |  | 1,501 |  |  | 1,542 |
Asia | 667 |  |  | 857 |  |  | 857 |
Total revenue | $ | 4,442 |  |  | $ | 5,170 |  |  | $ | 5,619 |
| As of
| March 29, 2025 |  | March 30, 2024 |  | April 1, 2023
Long-lived assets: |  |  |  |  |
The Americas (1) | $ | 857 |  |  | $ | 1,031 |  |  | $ | 882 |
EMEA | 1,486 |  |  | 1,818 |  |  | 2,129 |
Asia | 499 |  |  | 562 |  |  | 599 |
Total long-lived assets | $ | 2,842 |  |  | $ | 3,411 |  |  | $ | 3,610 |
(1)Net revenues earned in the United States during Fiscal 2025, Fiscal 2024 and Fiscal 2023 were $2.258 billion, $2.546 billion and $2.951 billion, respectively. Long-lived assets located in the United States as of March 29, 2025, March 30, 2024 and April 1, 2023 were $812 million, $993 million and $826 million, respectively.
Schedule of Net Revenues by Major Product Category | Total revenue by major product category are as follows (in millions):
| Fiscal Years Ended
| March 29, 2025 |  | % of Total |  | March 30, 2024 |  | % of Total |  | April 1, 2023 |  | % of Total
Accessories | $ | 2,183 |  |  | 49.1% |  | $ | 2,570 |  |  | 49.7% |  | $ | 2,826 |  |  | 50.3%
Footwear | 1,237 |  |  | 27.9% |  | 1,151 |  |  | 22.3% |  | 1,217 |  |  | 21.7%
Apparel | 601 |  |  | 13.6% |  | 965 |  |  | 18.7% |  | 1,107 |  |  | 19.7%
Licensing revenue | 201 |  |  | 4.5% |  | 219 |  |  | 4.2% |  | 211 |  |  | 3.8%
Licensed product | 192 |  |  | 4.3% |  | 230 |  |  | 4.4% |  | 222 |  |  | 4.0%
Other | 28 |  |  | 0.6% |  | 35 |  |  | 0.7% |  | 36 |  |  | 0.5%
Total revenue | $ | 4,442 |  |  |  |  | $ | 5,170 |  |  |  |  | $ | 5,619 |  |  |

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