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 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.

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Simone Acc Collection  / Equity Capital Markets

<div><p><a href="https://www.smartkarma.com/entities/simone-accessories-collection-ltd" target="_blank" data-smartkarma-citation="entities:34120:1" rel="noopener">Simone Accessories Collection (381920 KS)</a> is looking to raise up to US$341m in its upcoming South Korea IPO by selling a mix of primary and secondary shares.  </p></div><div>
<p>Simone is a leather accessories manufacturer with a focus on handbags and small leather goods (SLG). The company mainly produces handbags for major American masstige and luxury brands like Michael Kors, Tory Burch and Coach. The company is the leader in the luxury handbag industry with 10% and 30% of global and US market share, respectively, according to Bain’s estimates. It has a long relationship with major masstige and luxury handbag brands and a strong competitive edge over competitors.</p>
<p>In this note, we look at the company’s fundamentals, operating metrics, and share our thoughts on the deal.</p>
<p>Our previous coverage of the IPO:</p>
<ul><li dir="ltr" aria-level="1"><p><a href="https://www.smartkarma.com/insights/simone-pre-ipo-a-leader-in-the-industry-but-recovery-will-be-slow-and-blackstone-s-stake-weighs" target="_blank" data-smartkarma-citation="insights:57806" rel="noopener">Simone Pre-IPO - A Leader in the Industry but Recovery Will Be Slow and Blackstone’s Stake Weighs</a> </p></li></ul>
</div>

Simone Accessories Collection (381920 KS) is looking to raise up to US$341m in its upcoming South Korea IPO by selling a mix of primary and secondary shares.  
Simone is a leather accessories manufacturer with a focus on handbags and small leather goods (SLG). The company mainly produces handbags for major American masstige and luxury brands like Michael Kors, Tory Burch and Coach. The company is the leader in the luxury handbag industry with 10% and 30% of global and US market share, respectively, according to Bain’s estimates. It has a long relationship with major masstige and luxury handbag brands and a strong competitive edge over competitors.
In this note, we look at the company’s fundamentals, operating metrics, and share our thoughts on the deal.
Our previous coverage of the IPO:
Simone Pre-IPO - A Leader in the Industry but Recovery Will Be Slow and Blackstone’s Stake Weighs 


Simone IPO - Peer Comparison and an Uncompelling Valuation

United States

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 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

Simone IPO - Peer Comparison and an Uncompelling Valuation

Simone Accessories Collection (381920 KS) is looking to raise up to US$341m in its upcoming South Korea IPO by selling a mix of primary and...

Sumeet Singh

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