Apparel, Fashion & Lifestyle
Apparel, Fashion & Lifestyle by Company
Apparel, Fashion & Lifestyle at a Glance
Structural signals from the latest reported years. The three thesis tabs keep fashion, specialty retail, and lifestyle footwear separate.
- •Gap FY2025 net sales were $15.37 billion, up 2%. Old Navy was $8.66 billion. Athleta was $1.22 billion, down 9%. Online was 39% of sales.
- •Tapestry FY2026 net sales were $8.00 billion. Coach was $6.91 billion (+24%) and 86% of the group. Kate Spade was $1.07 billion (-10%). DTC was about 87%. GAAP gross margin was 77.8%.
- •Ralph Lauren FY2026 revenue was $8.11 billion, +15% reported and +12% constant currency. Retail was 68% of sales. Gross margin was 69.9%.
- •Capri sold Versace to Prada on December 2, 2025. Continuing-ops FY2026 revenue was $3.47 billion: Michael Kors $2.87 billion and Jimmy Choo $600 million.
- •Hollister grew 15% to $2.74 billion inside Abercrombie. Aerie was $1.94 billion inside American Eagle. Nuuly was $568 million inside Urban Outfitters, up 50%.
- •Crocs Brand did $3.33 billion in 2025. HEYDUDE did $715 million and fell 13%. Group DTC was 52.1%. Tariffs were a 130 basis-point gross-margin headwind.
- •Birkenstock FY2025 revenue was €2.10 billion, up 16%. DTC was 38%. Americas was still the largest region at €1.09 billion.
Headline numbers
Eight sourced snapshot figures. Fiscal years are not aligned. Birkenstock is converted at the IRS 2025 yearly average.
Gap FY2025 sales
$15.4B
Year ended January 31, 2026. Old Navy $8.66B, Gap $3.50B, Banana Republic $1.92B, Athleta $1.22B. Up 2% vs FY2024 $15.09B.
Gap 10-K
Coach inside Tapestry
$6.91B
FY2026, 86% of Tapestry sales, up 24%. Kate Spade $1.07B, down 10%. Group sales $8.00B.
Tapestry PR
Tapestry DTC mix
~87%
FY2026. Wholesale about 12%, licensing about 1%. GAAP gross margin 77.8%.
Tapestry 8-K
Hollister sales
$2.74B
Abercrombie FY2025. Hollister +15%; Abercrombie family of brands $2.52B, -1%. Group $5.27B, +6%.
ANF PR
Aerie sales
$1.94B
American Eagle FY2025 10-K segment. AE brand $3.41B. Group $5.55B. Digital 39% of revenue. Aerie comps +9%.
AEO 10-K
Nuuly / subscription
$568M
Urban Outfitters FY2026, +50.2%. Group net sales $6.17B, +11.1%. Anthropologie $2.59B is still the largest banner.
URBN 8-K
HEYDUDE sales
$715M
Crocs calendar 2025, -13.3%. Crocs Brand $3.33B. Group $4.04B. Digital 37.8% of consolidated sales. DTC 52.1%.
Crocs 10-K / PR
Birkenstock FY2025
€2.10B
Up 16% reported, 18% constant currency. DTC 38% of sales. About $2.37B at the IRS 2025 average.
Birkenstock PR
Roster revenue, latest year
Last reported fiscal year in USD. Capri is continuing operations after Versace. American Eagle uses the 10-K segment total.
Three theses on one page
Specialty retail is the largest pile because Gap is $15.4B. Fashion is four houses. Lifestyle footwear is Crocs plus Birkenstock. These are not TAM figures.
The roster
Ten public companies. Athletic names, LVMH, Kering, off-price, and sporting-goods retail are out.
| Company | Ticker | Archetype | HQ | Latest year | What to watch |
|---|---|---|---|---|---|
| Tapestry | TPR | Fashion / luxury | New York, US | FY2026 | Coach vs Kate Spade; DTC mix |
| Ralph Lauren | RL | Fashion / luxury | New York, US | FY2026 | Retail mix, Asia vs Americas |
| PVH | PVH | Fashion / luxury | New York, US | FY2025 | Tommy vs Calvin Klein; tariff GM |
| Capri | CPRI | Fashion / luxury | London, UK | FY2026 | Michael Kors + Jimmy Choo after Versace |
| Gap | GAP | Specialty retail | San Francisco, US | FY2025 | Old Navy vs Athleta decline |
| Urban Outfitters | URBN | Specialty retail | Philadelphia, US | FY2026 | Nuuly vs Anthropologie |
| American Eagle | AEO | Specialty retail | Pittsburgh, US | FY2025 | Aerie vs AE brand |
| Abercrombie | ANF | Specialty retail | New Albany, US | FY2025 | Hollister vs Abercrombie family |
| Crocs | CROX | Lifestyle footwear | Broomfield, US | CY2025 | HEYDUDE decline vs Crocs Brand |
| Birkenstock | BIRK | Lifestyle footwear | London, UK | FY2025 | DTC mix, Americas vs EMEA |
