Michael Kors suffered a sharp decline in its UK sales last year as customers reduced their spending on expensive handbags and clothes.
UK sales of the US designer brand dropped by 10% over the past year, driven by a drop in in-store trading.
Online transactions are said to have remained strong during the year up to April.
Michael Kors is now considering further price increases to help offset the decline amid a rise in material costs.
Prices have already been hiked by an average of 6% in the previous year up to April 2023.
This move comes as the luxury sector adjusts to decreased consumer spending following a period of high post-pandemic sales.
Michael Kors acquired Jimmy Choo for nearly £900 million in July 2017 and Versace for £1.6 billion just over a year later.
These acquisitions were consolidated into a parent company, Capri Holdings, which is valued at £3 billion on the New York Stock Exchange.
Capri Holdings shares lifted 2.3% on Monday.