
	March 28, 2026						March 29, 2025
	Gross Carrying Amount		Accumulated Amortization/Impairment		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization/Impairment		Net Carrying Amount
Definite-lived intangible assets:
Reacquired rights	$	400	$	158	$	242	$	400	$	142	$	258
Trademarks	23		23		—		23		23		—

Customer relationships (1)	220		109		111		214		94		120
Total definite-lived intangible assets	643		290		353		637		259		378

Indefinite-lived intangible assets:
Jimmy Choo brand (1) (2)	567		358		209		562		358		204
Total indefinite-lived intangible assets	567		358		209		562		358		204

Total intangible assets, excluding goodwill	$	1,210	$	648	$	562	$	1,199	$	617	$	582

Reacquired rights relate to the Company’s reacquisition of the rights to use the Michael Kors trademarks and to import, sell, advertise and promote certain of its products in the previously licensed territories in the Greater China region which are being amortized through March 31, 2041, the expiration date of the former licensing agreement. Amortization expense for the Company’s definite-lived intangibles was $29 million, $27 million and $27 million, respectively, for each of the fiscal years ended March 28, 2026, March 29, 2025 and March 30, 2024.

Indefinite-lived intangible assets other than goodwill included the Jimmy Choo brand, which was recorded in connection with the acquisition of Jimmy Choo, and has an indefinite life as it is essential to the Company’s ability to operate the business for the foreseeable future.

The future amortization expense above reflects weighted-average estimated remaining useful lives of fifteen years for reacquired rights and nine years for customer relationships.


	Michael Kors		Jimmy Choo		Total
Balance at March 30, 2024	$	120	$	133	$	253
Acquisition (1)	—		9		9

Impairment charges (2)	—		(66)		(66)
Foreign currency translation	—		3		3
Balance at March 29, 2025	$	120	$	79	$	199
Acquisition	—		—		—
Impairment charges (2)	—		—		—
Foreign currency translation	—		3		3
Balance at March 28, 2026	$	120	$	82	$	202

(1)On May 2, 2024, the Company completed the Sicla Acquisition for cash consideration of $9 million, net of cash acquired. The acquired identifiable assets and liabilities net to a nominal amount, with $9 million recognized in goodwill allocated to the Jimmy Choo reportable segment.

The Company’s goodwill and its Jimmy Choo brand are not subject to amortization but are evaluated for impairment annually in the last quarter of each fiscal year, or whenever impairment indicators exist. During the fourth quarter of Fiscal 2026, the Company performed its annual goodwill and indefinite-lived intangible asset impairment analysis.

The Company performed its goodwill impairment assessment for its Michael Kors reporting units using a qualitative assessment. Based on the results of the Company’s qualitative impairment assessment, the Company concluded that it is not more likely than not that the fair value of each of the Michael Kors’ reporting units was less than their carrying values and, therefore, were not impaired.

The Company performed its annual goodwill impairment analysis for the Jimmy Choo reporting units, electing to bypass the qualitative assessment and proceeding directly to the quantitative impairment analysis using a combination of income and market approaches to estimate the fair value of the brand’s reporting units. The Company also elected to perform a quantitative impairment analysis for the Jimmy Choo brand indefinite-lived intangible asset using an income approach to estimate its fair

value. Based on the results of these assessments, the Company determined there was no impairment for Jimmy Choo as the fair value of the reporting units goodwill and brand indefinite-lived intangible assets exceeded their related carrying amounts.

In Fiscal 2025, the Company recorded goodwill impairment charges of $66 million related to the Jimmy Choo Wholesale reporting unit and $15 million related to the Jimmy Choo Retail and Wholesale brand intangible assets. In Fiscal 2024, the Company recorded goodwill impairment charges of $192 million related to the Jimmy Choo Retail and Wholesale reporting units and $70 million related to the Jimmy Choo Retail and Wholesale brand intangible assets. The impairment charges were recorded within impairment of assets on the Company’s consolidated statement of operations and comprehensive (loss) income for the fiscal years ended March 29, 2025 and March 30, 2024, respectively. Refer to Note 15 - “Fair Value Measurements” for additional information.