Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Capri has seen a decent performance across all three of its luxury residences and 2022 has been delivering better results than the management had anticipated.</li><li>The company delivered an all-around beat with a revenue of $1.36 billion, which exceeded management and market expectations.</li><li>Fendace combined unique features with classic silhouettes from two renowned Italian luxury brands, Fendi and Versace.</li></ul>

Capri has seen a decent performance across all three of its luxury residences and 2022 has been delivering better results than the management had anticipated.The company delivered an all-around beat with a revenue of $1.36 billion, which exceeded management and market expectations.Fendace combined unique features with classic silhouettes from two renowned Italian luxury brands, Fendi and Versace.

Capri Holdings: Digital Momentum & Other Drivers

Equity Capital Markets

<ul><li>Capri Holdings delivered a strong result, surpassing Wall Street expectations in terms of both, revenues & earnings.</li><li>With the increase in vaccine rate and opening of regions, Michal Kors viewed a strong domestic consumer demand and the company saw progress in all three luxury houses, namely Michael Kors, Jimmy, and Versace.</li><li>There has been a growth of margin expansion and revenue growth, reflecting the successful execution of its strategic growth initiatives.</li></ul>

Capri Holdings delivered a strong result, surpassing Wall Street expectations in terms of both, revenues & earnings.With the increase in vaccine rate and opening of regions, Michal Kors viewed a strong domestic consumer demand and the company saw progress in all three luxury houses, namely Michael Kors, Jimmy, and Versace.There has been a growth of margin expansion and revenue growth, reflecting the successful execution of its strategic growth initiatives.

Capri Holdings Ltd.: Entry Into Childrenwear

<ul><li>Capri Holdings is progressing in all three luxury brands i.e., Michael Kors, Jimmy, and Versace as the global retail industry recovers from the pandemic.</li><li>The e-commerce business has increased double-digits which built upon significant gains that were achieved the previous year.</li><li>We provide Capri Holdings a 'Hold' rating with a revised target price.</li></ul>

Capri Holdings is progressing in all three luxury brands i.e., Michael Kors, Jimmy, and Versace as the global retail industry recovers from the pandemic.The e-commerce business has increased double-digits which built upon significant gains that were achieved the previous year.We provide Capri Holdings a 'Hold' rating with a revised target price.

Capri Holdings: Financial & Price Forecasts

<ul><li>Capri Holdings has its fair share of challenges with respect to each of its three luxury houses after the recent spread of the Omicron variant and the resulting uncertainty.</li><li>They also witnessed a strong momentum fuelled by healthy domestic consumer demand and the stock price had spiked after the result.</li><li>We expect a challenging couple of quarters ahead given the Omicron impact and give Capri Holdings a 'Hold' rating with a revised target price.</li></ul>

Capri Holdings has its fair share of challenges with respect to each of its three luxury houses after the recent spread of the Omicron variant and the resulting uncertainty.They also witnessed a strong momentum fuelled by healthy domestic consumer demand and the stock price had spiked after the result.We expect a challenging couple of quarters ahead given the Omicron impact and give Capri Holdings a 'Hold' rating with a revised target price.

<ul><li>This is our first report on luxury behemoth, Capri Holdings which operates through its three main brands – Michael Kors, Versace, and Jimmy Choo.</li><li>The company’s Jimmy Choo brand is set to benefit from innovative dress styles as consumers return to work.</li><li>The management has given an improved margin guidance for Jimmy Choo for the year and Michael Kors' margin profile has also recovered.</li></ul>

This is our first report on luxury behemoth, Capri Holdings which operates through its three main brands – Michael Kors, Versace, and Jimmy Choo.The company’s Jimmy Choo brand is set to benefit from innovative dress styles as consumers return to work.The management has given an improved margin guidance for Jimmy Choo for the year and Michael Kors' margin profile has also recovered.

United States

Under Armour, Inc. develops, markets, and distributes branded performance products for men, women, and youth. The Company designs and sells a broad offering of apparel and accessories made of synthetic microfibers.

Samsonite International SA designs, manufactures, and distributes luggage. The Company's products include suitcases, garment bags, casual bags, business cases, clothing, shoes, and accessories. Samsonite also licenses their trademarks for use on products such as travel accessories, leather goods, handbags, clothing, and furniture.

Columbia Sportswear Company designs, manufactures, markets, and distributes active outdoor apparel.  The Company's products include outerwear, sportswear, rugged footwear, and related accessories.  Columbia's products are sold to specialty and department store retailers in the United States and other countries.

Steven Madden, Ltd. designs and markets fashion footwear for women.  The Company's shoes are sold through Steve Madden retail stores, department stores, apparel and footwear specialty stores, and online.  Steven Madden has licensees, including sportswear and jeans, outerwear, intimate apparel, eyewear, hosiery, and jewelry, and owns and operates a retail store under its David Aaron brand.

Carter's, Inc. markets baby and young children's apparel in the United States. The Company's brands are sold to national department stores, chain and specialty stores, discount retailers, and its own retail stores.

Hanesbrands, Inc. manufactures men's, women's, and children's clothing.  The Company produces underwear, T-shirts, socks, sweatshirts, sleepwear, and shoes.

PVH Corp. designs, sources, manufactures, and markets men's, women's, and children's apparel and footwear.  The Company markets its products at a wholesale level through department store chains and directly to consumers through retail stores. PVH Corp offers attire that includes dress shirts, sportswear, neckwear, and footwear.

Oxford Industries, Inc. is an international manufacturer and wholesale marketer of branded and private label apparel for men, women, and children.  The Company's private label customers include national chains, specialty catalogs, mass merchandisers, department stores, specialty stores, and Internet retailers.

VF Corporation is an international apparel company. The Company owns a broad portfolio of brands in the jeanswear, outerwear, packs, footwear, sportswear and occupational apparel categories. VF Corp's products are marketed to consumers shopping in specialty stores, upscale and traditional department stores, national chains and mass merchants.

G-III Apparel Group, Ltd. is a manufacturer and distributor of outerwear, dresses, sportswear, swimwear, beachwear and women's suits, as well as handbags and luggage. The Company manufactures and distributes under licensed brands, their own brands, and private label brands. G-III also has licensing agreements with several sports leagues and universities.

HLA CORP., Ltd. manufactures and markets apparel, woolen fabrics, woolen yarns, and textile raw materials, as well as provides dyeing and processing services. Heilan Home distributes their product globally.

Li Ning Company Limited researches, designs, manufactures, distributes, and retails sports footwear, apparel and accessories for sport and leisure use.

Fujian Funeng Co., Ltd. manufactures a variety of textile including flannelette, cotton yarn, polyurethane synthetic leather, needling fabric, and water-jet bonding fabric.

KPR Mill Limited manufactures apparel products. The Company's products include carded and combed cotton and knitted fabrics.

Eclat Textile Co., Ltd. weaves, dyes, and sells fabrics, garments, yarns, and other textile materials.  The Company distributes its products in the local and overseas markets.

Makalot Industrial Co., Ltd. manufactures garments, including underwear, sleepwear, skirts, dresses, shirts, pants, shorts, etc.  The Company exports its products mostly to the United States.

Pou Chen Corporation manufactures and markets footwear products such as athletic shoes, leather shoes, plastics shoes and shoe soles. The Company markets its products in Taiwan and exports to the United States, South East Asia and Europe. Pou Chen's major business is shoe material trading.

Feng Tay Enterprise Co., Ltd. manufactures and markets athletic footwear products.  The Company's products include sneakers and roller blades. Its headquarters, primarily for product development and human resources functions, is located at Yunlin Science and Industrial Park in Taiwan, while its factories are spread throughout China, Vietnam, Indonesia and India.

Aditya Birla Fashion and Retail Ltd provides a wide range of mid-priced garments for men. The Company's collection includes internationally styled formal, elite, casual, party, and wedding apparel.

Aditya Birla Fashion and Retail Ltd (ABFRL IN)

Hugo Boss AG designs, produces, and markets brand name clothing.  The Company's products, which are marketed under branded names are sold through subsidiaries, franchises, and retail outlets throughout the world.  Hugo Boss licenses its name for eyeglass frames, fragrances, watches, shoes, and leather goods.

Capri Holdings Limited retails apparel. The Company offers fashion luxury women's and men's accessories, footwear, apparel, watches, jewelry, eyewear, and fragrance products, as well as provides delivery services. Capri Holdings serves customers worldwide.

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Capri Holdings (CPRI US)

Capri Holdings: Digital Momentum & Other Drivers

Capri has seen a decent performance across all three of its luxury residences and 2022 has been delivering better results than the management had...

Baptista Research

Capri Holdings Ltd.: Entry Into Childrenwear

Capri Holdings delivered a strong result, surpassing Wall Street expectations in terms of both, revenues & earnings. With the increase in...

Baptista Research

Capri Holdings: Financial & Price Forecasts

Capri Holdings is progressing in all three luxury brands i.e., Michael Kors, Jimmy, and Versace as the global retail industry recovers from the...

Baptista Research

Capri Holdings Ltd - Investment Thesis

Capri Holdings has its fair share of challenges with respect to each of its three luxury houses after the recent spread of the Omicron variant and...

Baptista Research

Capri Holdings Ltd - Investment Thesis

This is our first report on luxury behemoth, Capri Holdings which operates through its three main brands – Michael Kors, Versace, and Jimmy...

Baptista Research

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52-week Range

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