Capri Holdings Ltd missed Wall Street estimates for quarterly profit on Wednesday, as protests in Hong Kong and negative Chinese consumer reaction to an ‘incorrectly labeled’ T-shirt hurt sales of its Versace brand. Milan-based Versace had come under fire in China as the luxury label sold a T-shirt that identified the Chinese-controlled territories of Hong Kong and Macau as countries. Due to this, Versace lost its first Asia brand ambassador, Chinese actress Yang Mi, who terminated her contract with the brand. …read more
Source:: Yahoo Finance
