Top 5 Luxury Clothing Stocks to Invest in Now

2. Capri Holdings Limited (NYSE:CPRI)

Number of Hedge Fund Holders: 58

Capri Holdings Limited (NYSE:CPRI) is a designer and seller of branded apparel, footwear, and accessories. The company sells its products under various luxury brands, including Versace, Jimmy Choo, and Michael Kors.

Capri Holdings Limited (NYSE:CPRI) was part of 58 hedge funds’ portfolios in the fourth quarter of 2023 with a total stake value of $1.276 billion. As of December 31, 2023, Pentwater Capital Management is the most prominent shareholder in the company and has increased its stake by 293% to 4 million shares worth $200.960 million.

Fred Alger Management made the following comment about Capri Holdings Limited (NYSE:CPRI) in its Q3 2023 investor letter:

“Capri Holdings Limited (NYSE:CPRI) is a global fashion retailer with over 1,300 stores around the world. The company operates a portfolio of luxury handbags and other accessories, including Michael Kors, Versace and Jimmy Choo. During the period, shares contributed to performance after the company received a cash offer from its closest competitor, Tapestry, Inc., the owner of Coach, Kate Spade and Stuart Weitzman, for $57 per share or a 63% premium to where the stock was trading on the day it was announced. The deal has been approved by the company’s board. We believe there is minimal regulatory risk related to the deal and expect the deal to close by the end of the calendar year.”