Capri Holdings might have changed its name, but Michael Kors is still on top — at least of the pay scale.
Kors, who is honorary chairman and chief creative officer of the Michael Kors brand, drew compensation of $14.37 million last year — just slightly more than the company’s chairman and chief executive officer, John Idol, whose pay tallied $14.35 million.
Both made $7.6 million in the prior year, making for pay hikes of nearly 90 percent, although much of the compensation came in the form of stock awards and options, the full value of which might not be realized given stock-price fluctuations.
The executives received nearly identical pay packages, including $1.4 million in salary, $5.4 million in incentive pay, $6 million in stock awards, $1.5 million in options and other compensation of more than $100,000.
Capri, which used to go by Michael Kors Holdings, changed its name late last year after buying Versace in a $2.1 billion deal.
The name was inspired by the island, which has a famous three-rock formation and is used to symbolize the company’s three brands: Michael Kors, Versace and Jimmy Choo.