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Revenues | 9 Months Ended
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Dec. 31, 2024
Revenue from Contract with Customer [Abstract] |
REVENUES | REVENUES The following tables summarize the Company's net revenues by product category and distribution channels:
| Three Months Ended December 31, |  | Nine Months Ended December 31,
| 2024 |  | 2023 |  | 2024 |  | 2023
Apparel | $ | 966,068 |  |  | $ | 1,016,655 |  |  | $ | 2,671,048 |  |  | $ | 2,911,669 |
Footwear | 301,208 |  |  | 331,000 |  |  | 924,357 |  |  | 1,045,872 |
Accessories | 110,432 |  |  | 104,510 |  |  | 319,358 |  |  | 316,305 |
Net Sales | 1,377,708 |  |  | 1,452,165 |  |  | 3,914,763 |  |  | 4,273,846 |
License revenues | 23,904 |  |  | 29,069 |  |  | 70,371 |  |  | 82,787 |
Corporate Other | (573) |  |  | 4,809 |  |  | (1,407) |  |  | 13,049 |
Total net revenues | $ | 1,401,039 |  |  | $ | 1,486,043 |  |  | $ | 3,983,727 |  |  | $ | 4,369,682 |
Wholesale | $ | 704,760 |  |  | $ | 711,699 |  |  | $ | 2,211,266 |  |  | $ | 2,393,382 |
Direct-to-consumer | 672,948 |  |  | 740,466 |  |  | 1,703,497 |  |  | 1,880,464 |
Net Sales | 1,377,708 |  |  | 1,452,165 |  |  | 3,914,763 |  |  | 4,273,846 |
License revenues | 23,904 |  |  | 29,069 |  |  | 70,371 |  |  | 82,787 |
Corporate Other | (573) |  |  | 4,809 |  |  | (1,407) |  |  | 13,049 |
Total net revenues | $ | 1,401,039 |  |  | $ | 1,486,043 |  |  | $ | 3,983,727 |  |  | $ | 4,369,682 |
The Company records reductions to revenue for estimated customer returns, allowances, markdowns and discounts. These reserves are included within customer refund liability and the value of the inventory associated with reserves for sales returns are included within prepaid expenses and other current assets on the Condensed Consolidated Balance Sheets. The following table presents the customer refund liability, as well as the associated value of inventory for the periods indicated:
| As of December 31, 2024 |  | As of March 31, 2024
Customer refund liability | $ | 170,344 |  |  | $ | 139,283 |
Inventory associated with reserves for sales returns | $ | 39,796 |  |  | $ | 29,514 |
Contract Liabilities Contract liabilities are recorded when a customer pays consideration, or the Company has a right to an amount of consideration that is unconditional, before the transfer of a good or service to the customer, and thus represent the Company's obligation to transfer the good or service to the customer at a future date. The Company's contract liabilities primarily consist of (i) gift cards, which are included in accrued expenses on the Company's Condensed Consolidated Balance Sheets, and (ii) points associated with the loyalty programs and payments received in advance of revenue recognition for royalty arrangements, which are included in other current liabilities on the Company's Condensed Consolidated Balance Sheets. The following table summarizes the change in the contract liabilities balance during the nine months ended December 31, 2024, which primarily results from the timing differences between the Company's satisfaction of performance obligations and the customer's payment.
| Total Contract Liabilities
Balance as of March 31, 2024 | $ | 26,322 |
Revenues deferred | 53,460 |
Revenues recognized (1) | (41,072) |
Foreign exchange and other | (729) |
Balance as of December 31, 2024 | $ | 37,981 |
(1) Includes approximately $7.1 million of revenue from gift cards and subscriptions that was previously included in contract liabilities as of March 31, 2024. Loyalty points are not separately identifiable and therefore revenues recognized from the redemption of loyalty points consists of both points that were included in the liability balance at the beginning of the period and those that were issued during the period.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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