# Luxury Goods — company-by-company sector analysis

> Luxury Goods: Tapestry, Inc. owns the largest revenue base; LuxExperience B.V. has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-07-28. Not investment advice.

## Bottom line

Luxury Goods has outperformed S&P 500 by 32.1% over 52 weeks and 0.5% over 13 weeks. 4 of 9 covered companies beat the S&P 500 on Mansfield relative strength, while 3 of 9 beat the sector itself. Tapestry, Inc. leads with revenue of $7,851 million, based on 8 of 9 comparable companies through Mar 2026.

### Is the Luxury Goods sector outperforming S&P 500?

Luxury Goods has outperformed S&P 500 by 32.1% over 52 weeks and 0.5% over 13 weeks. 4 of 9 covered companies beat the S&P 500 on Mansfield relative strength, while 3 of 9 beat the sector itself.

### Which Luxury Goods company is largest by revenue?

Tapestry, Inc. leads with revenue of $7,851 million, based on 8 of 9 comparable companies through Mar 2026.

### Which Luxury Goods company is growing fastest?

LuxExperience B.V. has the fastest current revenue growth at 100%, across 8 of 9 comparable companies.

### Which Luxury Goods company has the strongest 4-Factor Sector Score?

Envela Corporation ranks first at 79.3/100 with 76% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Luxury Goods company reports the most CAPEX?

Tapestry, Inc. reports the largest latest CAPEX at $37 million, with 9 of 9 companies comparable.

### Which Luxury Goods company has the least gross debt?

Envela Corporation has the lowest comparable gross debt at $20 million. Tapestry, Inc. has the highest at $3,923 million.

### Which Luxury Goods company has the lowest comparable PEG?

Signet Jewelers Limited has the lowest comparable Guarded PEG at 0.04, among 3 of 9 companies that pass the metric’s comparability rules.

### How much history does this Luxury Goods comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

## Sector relative strength

Luxury Goods has outperformed S&P 500 by 32.1% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 0.5%. 4 of 9 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Movado Group, Inc. is the strongest against the sector itself at +40.2%.

13-week sector return versus NIFTY 500: -0.5%
52-week sector return versus NIFTY 500: 32%
Stocks leading NIFTY: 4/9
Stocks leading sector: 3/9

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 9
Combined market value: ₹40.5K Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Envela Corporation (ELA): 79/100 — Favorable setup; evidence 76%
   - Growth & earnings 30.3/35 | Capital efficiency 18.6/25 | Valuation 14.5/20 | Relative strength 15.9/20
   - Exact sum: 30.3 + 18.6 + 14.5 + 15.9 = 79.3
   - Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2. Movado Group, Inc. (MOV): 72/100 — Favorable setup; evidence 80%
   - Growth & earnings 23.9/35 | Capital efficiency 16.3/25 | Valuation 15.0/20 | Relative strength 17.0/20
   - Exact sum: 23.9 + 16.3 + 15 + 17 = 72.2
   - Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
3. Tapestry, Inc. (TPR): 60/100 — Mixed-positive evidence; evidence 72%
   - Growth & earnings 20.7/35 | Capital efficiency 13.6/25 | Valuation 9.0/20 | Relative strength 17.0/20
   - Exact sum: 20.7 + 13.6 + 9 + 17 = 60.3
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4. Signet Jewelers Limited (SIG): 50/100 — Mixed-negative evidence; evidence 86%
   - Growth & earnings 7.8/35 | Capital efficiency 11.8/25 | Valuation 16.5/20 | Relative strength 13.8/20
   - Exact sum: 7.8 + 11.8 + 16.5 + 13.8 = 49.9
   - Decision use: Price leads the evidence: RS versus the benchmark is 1%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
5. The RealReal, Inc. (REAL): 48/100 — Thin evidence · provisional; evidence 56%
   - Growth & earnings 23.4/35 | Capital efficiency 6.2/25 | Valuation 10.0/20 | Relative strength 8.1/20
   - Exact sum: 23.4 + 6.2 + 10 + 8.1 = 47.7
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
6. LuxExperience B.V. (LUXE): 42/100 — Thin evidence · provisional; evidence 59%
   - Growth & earnings 15.1/35 | Capital efficiency 9.7/25 | Valuation 11.0/20 | Relative strength 6.4/20
   - Exact sum: 15.1 + 9.7 + 11 + 6.4 = 42.2
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7. Capri Holdings Limited (CPRI): 36/100 — Mixed-negative evidence; evidence 65%
   - Growth & earnings 16.0/35 | Capital efficiency 7.4/25 | Valuation 10.5/20 | Relative strength 2.3/20
   - Exact sum: 16 + 7.4 + 10.5 + 2.3 = 36.2
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8. Brilliant Earth Group, Inc. (BRLT): 30/100 — Thin evidence · provisional; evidence 59%
   - Growth & earnings 10.4/35 | Capital efficiency 7.8/25 | Valuation 8.5/20 | Relative strength 3.0/20
   - Exact sum: 10.4 + 7.8 + 8.5 + 3 = 29.7
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
9. Lanvin Group Holdings Limited (LANV): 38/100 — Thin evidence · provisional; evidence 26%
   - Growth & earnings 15.9/35 | Capital efficiency 8.2/25 | Valuation 10.0/20 | Relative strength 4.1/20
   - Exact sum: 15.9 + 8.2 + 10 + 4.1 = 38.2
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

## Revenue Scale & Growth Durability

What the numbers say: Tapestry, Inc. is the scale leader at $7,851 million, 15% ahead of Signet Jewelers Limited. LuxExperience B.V.'s growth is stored at the ≥100% scoring cap; the uncapped TTM change is 172.4% from a $2,427 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Tapestry, Inc. is the scale benchmark; LuxExperience B.V. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Tapestry, Inc.'s growth falls below LuxExperience B.V.'s for two consecutive comparable reports while operating margin also compresses.

Evidence: Tapestry, Inc. · $7,851 million | 15% versus #2 · Signet Jewelers Limited | 7/8 recent comparable periods | 8/9 companies · 160 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. Tapestry, Inc. (TPR): ₹7.9K Cr
2. Signet Jewelers Limited (SIG): ₹6.8K Cr
3. Capri Holdings Limited (CPRI): ₹3.5K Cr
4. LuxExperience B.V. (LUXE): ₹2.4K Cr
5. The RealReal, Inc. (REAL): ₹723 Cr

### Revenue growth — fastest growers
1. LuxExperience B.V. (LUXE): 100%
2. Envela Corporation (ELA): 54%
3. The RealReal, Inc. (REAL): 17%
4. Tapestry, Inc. (TPR): 14%
5. Brilliant Earth Group, Inc. (BRLT): 5.7%

### 20-quarter Revenue history
- TPR: Sep 2021 ₹1.6K Cr | Dec 2021 ₹1.5K Cr | Mar 2022 ₹2.1K Cr | Jun 2022 ₹1.4K Cr | Sep 2022 ₹1.6K Cr | Dec 2022 ₹1.5K Cr | Mar 2023 — | Jun 2023 ₹1.5K Cr | Sep 2023 ₹1.6K Cr | Dec 2023 ₹2.1K Cr | Mar 2024 ₹1.5K Cr | Jun 2024 ₹1.6K Cr | Sep 2024 ₹1.5K Cr | Dec 2024 ₹2.2K Cr | Mar 2025 ₹1.6K Cr | Jun 2025 ₹1.7K Cr | Sep 2025 ₹1.7K Cr | Dec 2025 ₹2.5K Cr | Mar 2026 ₹1.9K Cr | Jun 2026 —
- SIG: Sep 2021 ₹1.8K Cr | Dec 2021 ₹1.5K Cr | Mar 2022 ₹2.8K Cr | Jun 2022 ₹1.8K Cr | Sep 2022 ₹1.8K Cr | Dec 2022 ₹1.6K Cr | Mar 2023 ₹2.7K Cr | Jun 2023 ₹1.7K Cr | Sep 2023 ₹1.6K Cr | Dec 2023 ₹1.4K Cr | Mar 2024 ₹3.2K Cr | Jun 2024 ₹1.5K Cr | Sep 2024 ₹1.5K Cr | Dec 2024 ₹1.3K Cr | Mar 2025 ₹2.8K Cr | Jun 2025 ₹1.5K Cr | Sep 2025 ₹1.5K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹2.3K Cr | Jun 2026 ₹1.6K Cr
- CPRI: Sep 2021 ₹1.3K Cr | Dec 2021 ₹1.6K Cr | Mar 2022 — | Jun 2022 ₹1.5K Cr | Sep 2022 ₹1.4K Cr | Dec 2022 ₹1.4K Cr | Mar 2023 — | Jun 2023 ₹1.3K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹1.4K Cr | Mar 2024 ₹1.2K Cr | Jun 2024 ₹848 Cr | Sep 2024 ₹878 Cr | Dec 2024 ₹1.1K Cr | Mar 2025 ₹827 Cr | Jun 2025 ₹797 Cr | Sep 2025 ₹856 Cr | Dec 2025 ₹1.0K Cr | Mar 2026 ₹796 Cr | Jun 2026 —
- REAL: Sep 2021 ₹119 Cr | Dec 2021 ₹145 Cr | Mar 2022 ₹147 Cr | Jun 2022 ₹154 Cr | Sep 2022 ₹143 Cr | Dec 2022 ₹160 Cr | Mar 2023 ₹142 Cr | Jun 2023 ₹131 Cr | Sep 2023 ₹133 Cr | Dec 2023 ₹143 Cr | Mar 2024 ₹144 Cr | Jun 2024 ₹145 Cr | Sep 2024 ₹148 Cr | Dec 2024 ₹164 Cr | Mar 2025 ₹160 Cr | Jun 2025 ₹165 Cr | Sep 2025 ₹174 Cr | Dec 2025 ₹194 Cr | Mar 2026 ₹190 Cr | Jun 2026 —
- LUXE: Sep 2021 ₹158 Cr | Dec 2021 ₹188 Cr | Mar 2022 ₹170 Cr | Jun 2022 ₹175 Cr | Sep 2022 ₹176 Cr | Dec 2022 ₹190 Cr | Mar 2023 ₹199 Cr | Jun 2023 ₹203 Cr | Sep 2023 ₹187 Cr | Dec 2023 ₹197 Cr | Mar 2024 ₹234 Cr | Jun 2024 ₹223 Cr | Sep 2024 ₹202 Cr | Dec 2024 ₹223 Cr | Mar 2025 ₹243 Cr | Jun 2025 ₹588 Cr | Sep 2025 ₹574 Cr | Dec 2025 ₹647 Cr | Mar 2026 ₹618 Cr | Jun 2026 —
- MOV: Sep 2021 ₹174 Cr | Dec 2021 ₹218 Cr | Mar 2022 ₹206 Cr | Jun 2022 ₹163 Cr | Sep 2022 ₹183 Cr | Dec 2022 ₹211 Cr | Mar 2023 ₹187 Cr | Jun 2023 ₹145 Cr | Sep 2023 ₹160 Cr | Dec 2023 ₹188 Cr | Mar 2024 ₹171 Cr | Jun 2024 ₹134 Cr | Sep 2024 ₹159 Cr | Dec 2024 ₹181 Cr | Mar 2025 ₹181 Cr | Jun 2025 ₹132 Cr | Sep 2025 ₹162 Cr | Dec 2025 ₹186 Cr | Mar 2026 ₹192 Cr | Jun 2026 ₹142 Cr
- ELA: Sep 2021 ₹38 Cr | Dec 2021 ₹44 Cr | Mar 2022 ₹47 Cr | Jun 2022 ₹43 Cr | Sep 2022 ₹45 Cr | Dec 2022 ₹47 Cr | Mar 2023 ₹50 Cr | Jun 2023 ₹51 Cr | Sep 2023 ₹37 Cr | Dec 2023 ₹37 Cr | Mar 2024 ₹40 Cr | Jun 2024 ₹45 Cr | Sep 2024 ₹47 Cr | Dec 2024 ₹48 Cr | Mar 2025 ₹48 Cr | Jun 2025 ₹55 Cr | Sep 2025 ₹57 Cr | Dec 2025 ₹80 Cr | Mar 2026 ₹98 Cr | Jun 2026 —
- LANV: Sep 2021 — | Dec 2021 ₹192 Cr | Mar 2022 — | Jun 2022 ₹202 Cr | Sep 2022 — | Dec 2022 ₹221 Cr | Mar 2023 — | Jun 2023 ₹215 Cr | Sep 2023 — | Dec 2023 ₹212 Cr | Mar 2024 — | Jun 2024 ₹171 Cr | Sep 2024 — | Dec 2024 ₹158 Cr | Mar 2025 — | Jun 2025 ₹133 Cr | Sep 2025 — | Dec 2025 ₹107 Cr | Mar 2026 — | Jun 2026 —
- BRLT: Sep 2021 ₹95 Cr | Dec 2021 ₹122 Cr | Mar 2022 ₹100 Cr | Jun 2022 ₹109 Cr | Sep 2022 ₹111 Cr | Dec 2022 ₹120 Cr | Mar 2023 ₹98 Cr | Jun 2023 ₹110 Cr | Sep 2023 ₹114 Cr | Dec 2023 ₹124 Cr | Mar 2024 ₹97 Cr | Jun 2024 ₹105 Cr | Sep 2024 ₹100 Cr | Dec 2024 ₹120 Cr | Mar 2025 ₹94 Cr | Jun 2025 ₹109 Cr | Sep 2025 ₹110 Cr | Dec 2025 ₹124 Cr | Mar 2026 ₹100 Cr | Jun 2026 —

### 20-quarter Revenue growth history
- TPR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.6% | Dec 2022 1.8% | Mar 2023 — | Jun 2023 5.0% | Sep 2023 -0.3% | Dec 2023 38% | Mar 2024 — | Jun 2024 5.4% | Sep 2024 -6.9% | Dec 2024 5.3% | Mar 2025 7.0% | Jun 2025 8.3% | Sep 2025 13% | Dec 2025 14% | Mar 2026 21% | Jun 2026 —
- SIG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -1.9% | Dec 2022 2.9% | Mar 2023 -5.2% | Jun 2023 -9.3% | Sep 2023 -8.0% | Dec 2023 -12% | Mar 2024 19% | Jun 2024 -9.4% | Sep 2024 -7.6% | Dec 2024 -3.1% | Mar 2025 -11% | Jun 2025 2.1% | Sep 2025 3.0% | Dec 2025 3.2% | Mar 2026 -17% | Jun 2026 0.8%
- CPRI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 19% | Sep 2022 4.6% | Dec 2022 -12% | Mar 2023 — | Jun 2023 -11% | Sep 2023 -9.6% | Dec 2023 1.1% | Mar 2024 — | Jun 2024 -36% | Sep 2024 -29% | Dec 2024 -25% | Mar 2025 -32% | Jun 2025 -6.0% | Sep 2025 -2.5% | Dec 2025 -4.0% | Mar 2026 -3.8% | Jun 2026 —
- REAL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 47% | Sep 2022 20% | Dec 2022 10% | Mar 2023 -3.4% | Jun 2023 -15% | Sep 2023 -7.0% | Dec 2023 -11% | Mar 2024 1.4% | Jun 2024 11% | Sep 2024 11% | Dec 2024 15% | Mar 2025 11% | Jun 2025 14% | Sep 2025 18% | Dec 2025 18% | Mar 2026 19% | Jun 2026 —
- LUXE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 8.0% | Sep 2022 11% | Dec 2022 1.1% | Mar 2023 17% | Jun 2023 16% | Sep 2023 6.3% | Dec 2023 3.7% | Mar 2024 18% | Jun 2024 9.9% | Sep 2024 8.0% | Dec 2024 13% | Mar 2025 3.9% | Jun 2025 164% | Sep 2025 184% | Dec 2025 190% | Mar 2026 154% | Jun 2026 —
- MOV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 5.2% | Dec 2022 -3.2% | Mar 2023 -9.2% | Jun 2023 -11% | Sep 2023 -13% | Dec 2023 -11% | Mar 2024 -8.6% | Jun 2024 -7.6% | Sep 2024 -0.6% | Dec 2024 -3.7% | Mar 2025 5.9% | Jun 2025 -1.5% | Sep 2025 1.9% | Dec 2025 2.8% | Mar 2026 6.1% | Jun 2026 7.6%
- ELA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 26% | Sep 2022 18% | Dec 2022 6.8% | Mar 2023 6.4% | Jun 2023 19% | Sep 2023 -18% | Dec 2023 -21% | Mar 2024 -20% | Jun 2024 -12% | Sep 2024 27% | Dec 2024 30% | Mar 2025 20% | Jun 2025 22% | Sep 2025 21% | Dec 2025 67% | Mar 2026 104% | Jun 2026 —
- LANV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 73% | Sep 2022 — | Dec 2022 15% | Mar 2023 — | Jun 2023 6.4% | Sep 2023 — | Dec 2023 -4.1% | Mar 2024 — | Jun 2024 -20% | Sep 2024 — | Dec 2024 -25% | Mar 2025 — | Jun 2025 -22% | Sep 2025 — | Dec 2025 -32% | Mar 2026 — | Jun 2026 —
- BRLT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 18% | Sep 2022 17% | Dec 2022 -1.6% | Mar 2023 -2.0% | Jun 2023 0.9% | Sep 2023 2.7% | Dec 2023 3.3% | Mar 2024 -1.0% | Jun 2024 -4.6% | Sep 2024 -12% | Dec 2024 -3.2% | Mar 2025 -3.1% | Jun 2025 3.8% | Sep 2025 10% | Dec 2025 3.3% | Mar 2026 6.4% | Jun 2026 —

## Operating Economics & Margin Trend

What the numbers say: Tapestry, Inc. leads opm at 22.3%; The RealReal, Inc. leads margin change at +6.8 percentage points.

Investor read: Tapestry, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: Tapestry, Inc. · 22.3% | 95.6% versus #2 · Envela Corporation | 5/8 recent comparable periods | 8/9 companies · 151 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. Tapestry, Inc. (TPR): 22%
2. Envela Corporation (ELA): 11%
3. Movado Group, Inc. (MOV): 4.9%
4. Signet Jewelers Limited (SIG): 2.4%
5. The RealReal, Inc. (REAL): -1.2%

### Margin change — fastest expanders
1. The RealReal, Inc. (REAL): +6.8 pp
2. Tapestry, Inc. (TPR): +6.3 pp
3. Envela Corporation (ELA): +4.9 pp
4. Movado Group, Inc. (MOV): +4.7 pp
5. Capri Holdings Limited (CPRI): +3.5 pp

### 20-quarter OPM history
- TPR: Sep 2021 16% | Dec 2021 20% | Mar 2022 22% | Jun 2022 12% | Sep 2022 15% | Dec 2022 17% | Mar 2023 — | Jun 2023 15% | Sep 2023 17% | Dec 2023 22% | Mar 2024 14% | Jun 2024 15% | Sep 2024 17% | Dec 2024 22% | Mar 2025 16% | Jun 2025 -34% | Sep 2025 19% | Dec 2025 29% | Mar 2026 22% | Jun 2026 —
- SIG: Sep 2021 13% | Dec 2021 7.0% | Mar 2022 14% | Jun 2022 0.0% | Sep 2022 11% | Dec 2022 3.1% | Mar 2023 14% | Jun 2023 6.1% | Sep 2023 5.6% | Dec 2023 1.0% | Mar 2024 13% | Jun 2024 3.3% | Sep 2024 -6.8% | Dec 2024 0.7% | Mar 2025 24% | Jun 2025 3.1% | Sep 2025 0.2% | Dec 2025 1.7% | Mar 2026 14% | Jun 2026 2.4%
- CPRI: Sep 2021 15% | Dec 2021 21% | Mar 2022 — | Jun 2022 8.0% | Sep 2022 17% | Dec 2022 18% | Mar 2023 — | Jun 2023 -3.0% | Sep 2023 6.5% | Dec 2023 8.5% | Mar 2024 2.9% | Jun 2024 1.3% | Sep 2024 -0.7% | Dec 2024 2.4% | Mar 2025 -6.9% | Jun 2025 2.0% | Sep 2025 -1.4% | Dec 2025 4.5% | Mar 2026 -3.4% | Jun 2026 —
- REAL: Sep 2021 -43% | Dec 2021 -32% | Mar 2022 -37% | Jun 2022 -33% | Sep 2022 -32% | Dec 2022 -24% | Mar 2023 -58% | Jun 2023 -31% | Sep 2023 -17% | Dec 2023 -15% | Mar 2024 -13% | Jun 2024 -13% | Sep 2024 -9.9% | Dec 2024 -3.1% | Mar 2025 -8.0% | Jun 2025 -6.0% | Sep 2025 -4.3% | Dec 2025 3.2% | Mar 2026 -1.2% | Jun 2026 —
- LUXE: Sep 2021 -2.3% | Dec 2021 4.9% | Mar 2022 -1.2% | Jun 2022 0.7% | Sep 2022 -0.5% | Dec 2022 1.8% | Mar 2023 -3.2% | Jun 2023 -1.3% | Sep 2023 -7.2% | Dec 2023 -2.4% | Mar 2024 -0.9% | Jun 2024 -0.7% | Sep 2024 -15% | Dec 2024 -1.1% | Mar 2025 -2.2% | Jun 2025 102% | Sep 2025 -14% | Dec 2025 -1.6% | Mar 2026 -4.8% | Jun 2026 —
- MOV: Sep 2021 14% | Dec 2021 19% | Mar 2022 19% | Jun 2022 16% | Sep 2022 17% | Dec 2022 18% | Mar 2023 14% | Jun 2023 7.5% | Sep 2023 6.0% | Dec 2023 11% | Mar 2024 7.9% | Jun 2024 1.6% | Sep 2024 1.9% | Dec 2024 3.3% | Mar 2025 5.1% | Jun 2025 0.2% | Sep 2025 2.5% | Dec 2025 6.3% | Mar 2026 7.2% | Jun 2026 4.9%
- ELA: Sep 2021 7.1% | Dec 2021 6.4% | Mar 2022 6.0% | Jun 2022 9.4% | Sep 2022 7.7% | Dec 2022 7.8% | Mar 2023 6.3% | Jun 2023 4.0% | Sep 2023 5.3% | Dec 2023 4.3% | Mar 2024 5.9% | Jun 2024 4.2% | Sep 2024 4.3% | Dec 2024 3.9% | Mar 2025 6.5% | Jun 2025 5.9% | Sep 2025 7.3% | Dec 2025 9.4% | Mar 2026 11% | Jun 2026 —
- BRLT: Sep 2021 10% | Dec 2021 11% | Mar 2022 5.3% | Jun 2022 5.2% | Sep 2022 5.7% | Dec 2022 5.1% | Mar 2023 -0.1% | Jun 2023 1.2% | Sep 2023 1.8% | Dec 2023 1.0% | Mar 2024 0.9% | Jun 2024 1.1% | Sep 2024 -1.1% | Dec 2024 2.0% | Mar 2025 -3.8% | Jun 2025 -1.1% | Sep 2025 -0.6% | Dec 2025 0.0% | Mar 2026 -8.9% | Jun 2026 —

### 20-quarter Margin change history
- TPR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.8 pp | Dec 2022 −3.0 pp | Mar 2023 — | Jun 2023 +3.2 pp | Sep 2023 +1.6 pp | Dec 2023 +4.6 pp | Mar 2024 — | Jun 2024 −0.2 pp | Sep 2024 −0.2 pp | Dec 2024 +0.9 pp | Mar 2025 +2.2 pp | Jun 2025 −48.7 pp | Sep 2025 +2.6 pp | Dec 2025 +6.2 pp | Mar 2026 +6.3 pp | Jun 2026 —
- SIG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −2.0 pp | Dec 2022 −3.9 pp | Mar 2023 −0.4 pp | Jun 2023 +6.1 pp | Sep 2023 −5.0 pp | Dec 2023 −2.1 pp | Mar 2024 −0.8 pp | Jun 2024 −2.8 pp | Sep 2024 −12.4 pp | Dec 2024 −0.3 pp | Mar 2025 +10.4 pp | Jun 2025 −0.2 pp | Sep 2025 +7.0 pp | Dec 2025 +1.0 pp | Mar 2026 −9.9 pp | Jun 2026 −0.7 pp
- CPRI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −12.6 pp | Sep 2022 +2.0 pp | Dec 2022 −2.8 pp | Mar 2023 — | Jun 2023 −11.0 pp | Sep 2023 −10.5 pp | Dec 2023 −9.3 pp | Mar 2024 — | Jun 2024 +4.3 pp | Sep 2024 −7.2 pp | Dec 2024 −6.1 pp | Mar 2025 −9.8 pp | Jun 2025 +0.7 pp | Sep 2025 −0.7 pp | Dec 2025 +2.1 pp | Mar 2026 +3.5 pp | Jun 2026 —
- REAL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +28.8 pp | Sep 2022 +11.1 pp | Dec 2022 +8.0 pp | Mar 2023 −20.3 pp | Jun 2023 +1.7 pp | Sep 2023 +15.0 pp | Dec 2023 +9.1 pp | Mar 2024 +45.1 pp | Jun 2024 +18.3 pp | Sep 2024 +7.0 pp | Dec 2024 +11.6 pp | Mar 2025 +4.5 pp | Jun 2025 +7.0 pp | Sep 2025 +5.6 pp | Dec 2025 +6.3 pp | Mar 2026 +6.8 pp | Jun 2026 —
- LUXE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +4.5 pp | Sep 2022 +1.8 pp | Dec 2022 −3.1 pp | Mar 2023 −2.0 pp | Jun 2023 −2.0 pp | Sep 2023 −6.7 pp | Dec 2023 −4.2 pp | Mar 2024 +2.3 pp | Jun 2024 +0.6 pp | Sep 2024 −7.7 pp | Dec 2024 +1.3 pp | Mar 2025 −1.3 pp | Jun 2025 +102.4 pp | Sep 2025 +0.7 pp | Dec 2025 −0.5 pp | Mar 2026 −2.6 pp | Jun 2026 —
- MOV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +2.6 pp | Dec 2022 −0.9 pp | Mar 2023 −4.5 pp | Jun 2023 −8.0 pp | Sep 2023 −10.8 pp | Dec 2023 −7.1 pp | Mar 2024 −6.1 pp | Jun 2024 −5.9 pp | Sep 2024 −4.1 pp | Dec 2024 −7.7 pp | Mar 2025 −2.8 pp | Jun 2025 −1.4 pp | Sep 2025 +0.6 pp | Dec 2025 +3.0 pp | Mar 2026 +2.1 pp | Jun 2026 +4.7 pp
- ELA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +3.2 pp | Sep 2022 +0.6 pp | Dec 2022 +1.4 pp | Mar 2023 +0.3 pp | Jun 2023 −5.4 pp | Sep 2023 −2.4 pp | Dec 2023 −3.5 pp | Mar 2024 −0.4 pp | Jun 2024 +0.2 pp | Sep 2024 −1.0 pp | Dec 2024 −0.4 pp | Mar 2025 +0.6 pp | Jun 2025 +1.7 pp | Sep 2025 +3.0 pp | Dec 2025 +5.5 pp | Mar 2026 +4.9 pp | Jun 2026 —
- BRLT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −8.2 pp | Sep 2022 −4.7 pp | Dec 2022 −5.5 pp | Mar 2023 −5.4 pp | Jun 2023 −4.0 pp | Sep 2023 −3.9 pp | Dec 2023 −4.1 pp | Mar 2024 +1.0 pp | Jun 2024 −0.1 pp | Sep 2024 −2.9 pp | Dec 2024 +1.0 pp | Mar 2025 −4.7 pp | Jun 2025 −2.2 pp | Sep 2025 +0.5 pp | Dec 2025 −2.0 pp | Mar 2026 −5.1 pp | Jun 2026 —

## Profit Scale & Acceleration

What the numbers say: Tapestry, Inc. leads with $663 million of TTM profit, 45.1% above LuxExperience B.V.. Envela Corporation shows ≥100% on the scoring scale (162.5% uncapped) growth from a $21 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Tapestry, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Tapestry, Inc. · $663 million | 45.1% versus #2 · LuxExperience B.V. | 4/8 recent comparable periods | 8/9 companies · 160 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. Tapestry, Inc. (TPR): ₹663 Cr
2. LuxExperience B.V. (LUXE): ₹457 Cr
3. Signet Jewelers Limited (SIG): ₹293 Cr
4. Capri Holdings Limited (CPRI): ₹80 Cr
5. Movado Group, Inc. (MOV): ₹33 Cr

### Profit growth — fastest growers
1. Envela Corporation (ELA): 100%
2. Movado Group, Inc. (MOV): 83%
3. Tapestry, Inc. (TPR): -23%
4. Signet Jewelers Limited (SIG): -63%

### 20-quarter Net profit history
- TPR: Sep 2021 ₹200 Cr | Dec 2021 ₹227 Cr | Mar 2022 ₹318 Cr | Jun 2022 ₹123 Cr | Sep 2022 ₹189 Cr | Dec 2022 ₹195 Cr | Mar 2023 — | Jun 2023 ₹187 Cr | Sep 2023 ₹224 Cr | Dec 2023 ₹322 Cr | Mar 2024 ₹139 Cr | Jun 2024 ₹159 Cr | Sep 2024 ₹187 Cr | Dec 2024 ₹310 Cr | Mar 2025 ₹203 Cr | Jun 2025 ₹-517 Cr | Sep 2025 ₹275 Cr | Dec 2025 ₹561 Cr | Mar 2026 ₹344 Cr | Jun 2026 —
- SIG: Sep 2021 ₹225 Cr | Dec 2021 ₹93 Cr | Mar 2022 ₹314 Cr | Jun 2022 ₹-84 Cr | Sep 2022 ₹145 Cr | Dec 2022 ₹38 Cr | Mar 2023 ₹277 Cr | Jun 2023 ₹97 Cr | Sep 2023 ₹75 Cr | Dec 2023 ₹12 Cr | Mar 2024 ₹193 Cr | Jun 2024 ₹52 Cr | Sep 2024 ₹-99 Cr | Dec 2024 ₹7 Cr | Mar 2025 ₹850 Cr | Jun 2025 ₹34 Cr | Sep 2025 ₹-9 Cr | Dec 2025 ₹20 Cr | Mar 2026 ₹250 Cr | Jun 2026 ₹32 Cr
- CPRI: Sep 2021 ₹200 Cr | Dec 2021 ₹323 Cr | Mar 2022 — | Jun 2022 ₹81 Cr | Sep 2022 ₹203 Cr | Dec 2022 ₹224 Cr | Mar 2023 — | Jun 2023 ₹-33 Cr | Sep 2023 ₹48 Cr | Dec 2023 ₹105 Cr | Mar 2024 ₹100 Cr | Jun 2024 ₹5 Cr | Sep 2024 ₹42 Cr | Dec 2024 ₹6 Cr | Mar 2025 ₹-579 Cr | Jun 2025 ₹56 Cr | Sep 2025 ₹-34 Cr | Dec 2025 ₹57 Cr | Mar 2026 ₹1 Cr | Jun 2026 —
- REAL: Sep 2021 ₹-57 Cr | Dec 2021 ₹-52 Cr | Mar 2022 ₹-57 Cr | Jun 2022 ₹-53 Cr | Sep 2022 ₹-47 Cr | Dec 2022 ₹-39 Cr | Mar 2023 ₹-83 Cr | Jun 2023 ₹-41 Cr | Sep 2023 ₹-23 Cr | Dec 2023 ₹-22 Cr | Mar 2024 ₹-31 Cr | Jun 2024 ₹-17 Cr | Sep 2024 ₹-18 Cr | Dec 2024 ₹-68 Cr | Mar 2025 ₹62 Cr | Jun 2025 ₹-11 Cr | Sep 2025 ₹-54 Cr | Dec 2025 ₹-39 Cr | Mar 2026 ₹39 Cr | Jun 2026 —
- LUXE: Sep 2021 ₹-7 Cr | Dec 2021 ₹2 Cr | Mar 2022 ₹-4 Cr | Jun 2022 ₹2 Cr | Sep 2022 ₹-4 Cr | Dec 2022 ₹0 Cr | Mar 2023 ₹-5 Cr | Jun 2023 ₹-5 Cr | Sep 2023 ₹-12 Cr | Dec 2023 ₹-6 Cr | Mar 2024 ₹-3 Cr | Jun 2024 ₹-4 Cr | Sep 2024 ₹-24 Cr | Dec 2024 ₹-5 Cr | Mar 2025 ₹-5 Cr | Jun 2025 ₹586 Cr | Sep 2025 ₹-85 Cr | Dec 2025 ₹-13 Cr | Mar 2026 ₹-31 Cr | Jun 2026 —
- MOV: Sep 2021 ₹19 Cr | Dec 2021 ₹32 Cr | Mar 2022 ₹32 Cr | Jun 2022 ₹19 Cr | Sep 2022 ₹24 Cr | Dec 2022 ₹30 Cr | Mar 2023 ₹23 Cr | Jun 2023 ₹9 Cr | Sep 2023 ₹8 Cr | Dec 2023 ₹18 Cr | Mar 2024 ₹12 Cr | Jun 2024 ₹2 Cr | Sep 2024 ₹4 Cr | Dec 2024 ₹5 Cr | Mar 2025 ₹8 Cr | Jun 2025 ₹1 Cr | Sep 2025 ₹3 Cr | Dec 2025 ₹10 Cr | Mar 2026 ₹13 Cr | Jun 2026 ₹7 Cr
- ELA: Sep 2021 ₹3 Cr | Dec 2021 ₹3 Cr | Mar 2022 ₹3 Cr | Jun 2022 ₹4 Cr | Sep 2022 ₹3 Cr | Dec 2022 ₹3 Cr | Mar 2023 ₹3 Cr | Jun 2023 ₹2 Cr | Sep 2023 ₹2 Cr | Dec 2023 ₹1 Cr | Mar 2024 ₹2 Cr | Jun 2024 ₹2 Cr | Sep 2024 ₹2 Cr | Dec 2024 ₹2 Cr | Mar 2025 ₹2 Cr | Jun 2025 ₹3 Cr | Sep 2025 ₹3 Cr | Dec 2025 ₹6 Cr | Mar 2026 ₹9 Cr | Jun 2026 —
- LANV: Sep 2021 — | Dec 2021 ₹-8 Cr | Mar 2022 — | Jun 2022 ₹-69 Cr | Sep 2022 — | Dec 2022 ₹-171 Cr | Mar 2023 — | Jun 2023 ₹-72 Cr | Sep 2023 — | Dec 2023 ₹-74 Cr | Mar 2024 — | Jun 2024 ₹-69 Cr | Sep 2024 — | Dec 2024 ₹-120 Cr | Mar 2025 — | Jun 2025 ₹-87 Cr | Sep 2025 — | Dec 2025 ₹-177 Cr | Mar 2026 — | Jun 2026 —
- BRLT: Sep 2021 ₹4 Cr | Dec 2021 ₹11 Cr | Mar 2022 ₹3 Cr | Jun 2022 ₹4 Cr | Sep 2022 ₹6 Cr | Dec 2022 ₹6 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹1 Cr | Sep 2023 ₹2 Cr | Dec 2023 ₹2 Cr | Mar 2024 ₹1 Cr | Jun 2024 ₹1 Cr | Sep 2024 ₹-1 Cr | Dec 2024 ₹3 Cr | Mar 2025 ₹-3 Cr | Jun 2025 ₹-1 Cr | Sep 2025 ₹-1 Cr | Dec 2025 ₹-1 Cr | Mar 2026 ₹-8 Cr | Jun 2026 —

### 20-quarter Profit growth history
- TPR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -5.5% | Dec 2022 -14% | Mar 2023 — | Jun 2023 52% | Sep 2023 19% | Dec 2023 65% | Mar 2024 — | Jun 2024 -15% | Sep 2024 -17% | Dec 2024 -3.7% | Mar 2025 46% | Jun 2025 -425% | Sep 2025 47% | Dec 2025 81% | Mar 2026 69% | Jun 2026 —
- SIG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -36% | Dec 2022 -59% | Mar 2023 -12% | Jun 2023 — | Sep 2023 -48% | Dec 2023 -68% | Mar 2024 -30% | Jun 2024 -46% | Sep 2024 -232% | Dec 2024 -42% | Mar 2025 340% | Jun 2025 -35% | Sep 2025 — | Dec 2025 186% | Mar 2026 -71% | Jun 2026 -5.9%
- CPRI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -63% | Sep 2022 1.5% | Dec 2022 -31% | Mar 2023 — | Jun 2023 -141% | Sep 2023 -76% | Dec 2023 -53% | Mar 2024 — | Jun 2024 — | Sep 2024 -13% | Dec 2024 -94% | Mar 2025 -679% | Jun 2025 1,020% | Sep 2025 -181% | Dec 2025 850% | Mar 2026 — | Jun 2026 —
- REAL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 -37% | Jun 2026 —
- LUXE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 -100% | Mar 2023 — | Jun 2023 -350% | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- MOV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 26% | Dec 2022 -6.3% | Mar 2023 -28% | Jun 2023 -53% | Sep 2023 -67% | Dec 2023 -40% | Mar 2024 -48% | Jun 2024 -78% | Sep 2024 -50% | Dec 2024 -72% | Mar 2025 -33% | Jun 2025 -50% | Sep 2025 -25% | Dec 2025 100% | Mar 2026 63% | Jun 2026 600%
- ELA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 100% | Sep 2022 0.0% | Dec 2022 0.0% | Mar 2023 0.0% | Jun 2023 -50% | Sep 2023 -33% | Dec 2023 -67% | Mar 2024 -33% | Jun 2024 0.0% | Sep 2024 0.0% | Dec 2024 100% | Mar 2025 0.0% | Jun 2025 50% | Sep 2025 50% | Dec 2025 200% | Mar 2026 350% | Jun 2026 —
- BRLT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -50% | Sep 2022 50% | Dec 2022 -45% | Mar 2023 -100% | Jun 2023 -75% | Sep 2023 -67% | Dec 2023 -67% | Mar 2024 — | Jun 2024 0.0% | Sep 2024 -150% | Dec 2024 50% | Mar 2025 -400% | Jun 2025 -200% | Sep 2025 — | Dec 2025 -133% | Mar 2026 — | Jun 2026 —

## Capacity Spending & Returns On It

What the numbers say: Tapestry, Inc. reports $37 million of CAPEX; The RealReal, Inc. has the highest covered intensity at 3.7%. Coverage is only 9 of 9 companies and 157 reported observations, so this is partial evidence—not a complete sector rank.

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

Evidence: Tapestry, Inc. · $37 million | 48% versus #2 · Signet Jewelers Limited | 8/8 recent comparable periods | 9/9 companies · 157 observations

Definition: CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

### CAPEX — largest spenders
1. Tapestry, Inc. (TPR): ₹37 Cr
2. Signet Jewelers Limited (SIG): ₹25 Cr
3. Capri Holdings Limited (CPRI): ₹19 Cr
4. The RealReal, Inc. (REAL): ₹7 Cr
5. Brilliant Earth Group, Inc. (BRLT): ₹1 Cr

### CAPEX intensity — highest reinvestment intensity
1. The RealReal, Inc. (REAL): 3.7%
2. Capri Holdings Limited (CPRI): 1.9%
3. Tapestry, Inc. (TPR): 1.9%
4. Signet Jewelers Limited (SIG): 1.6%
5. Brilliant Earth Group, Inc. (BRLT): 1.0%

### 20-quarter CAPEX history
- TPR: Sep 2021 ₹47 Cr | Dec 2021 ₹33 Cr | Mar 2022 ₹38 Cr | Jun 2022 ₹3 Cr | Sep 2022 ₹19 Cr | Dec 2022 ₹27 Cr | Mar 2023 — | Jun 2023 ₹41 Cr | Sep 2023 ₹35 Cr | Dec 2023 ₹23 Cr | Mar 2024 ₹19 Cr | Jun 2024 ₹46 Cr | Sep 2024 ₹26 Cr | Dec 2024 ₹31 Cr | Mar 2025 ₹31 Cr | Jun 2025 ₹35 Cr | Sep 2025 ₹32 Cr | Dec 2025 ₹44 Cr | Mar 2026 ₹37 Cr | Jun 2026 —
- SIG: Sep 2021 ₹21 Cr | Dec 2021 ₹18 Cr | Mar 2022 ₹33 Cr | Jun 2022 ₹21 Cr | Sep 2022 ₹37 Cr | Dec 2022 ₹36 Cr | Mar 2023 ₹45 Cr | Jun 2023 ₹27 Cr | Sep 2023 ₹28 Cr | Dec 2023 ₹34 Cr | Mar 2024 ₹50 Cr | Jun 2024 ₹23 Cr | Sep 2024 ₹28 Cr | Dec 2024 ₹63 Cr | Mar 2025 ₹11 Cr | Jun 2025 ₹37 Cr | Sep 2025 ₹24 Cr | Dec 2025 ₹33 Cr | Mar 2026 ₹60 Cr | Jun 2026 ₹25 Cr
- CPRI: Sep 2021 ₹25 Cr | Dec 2021 ₹37 Cr | Mar 2022 — | Jun 2022 ₹46 Cr | Sep 2022 ₹36 Cr | Dec 2022 ₹50 Cr | Mar 2023 — | Jun 2023 ₹58 Cr | Sep 2023 ₹50 Cr | Dec 2023 ₹49 Cr | Mar 2024 — | Jun 2024 ₹16 Cr | Sep 2024 ₹20 Cr | Dec 2024 ₹22 Cr | Mar 2025 — | Jun 2025 ₹13 Cr | Sep 2025 ₹13 Cr | Dec 2025 ₹19 Cr | Mar 2026 — | Jun 2026 —
- REAL: Sep 2021 ₹10 Cr | Dec 2021 ₹7 Cr | Mar 2022 ₹5 Cr | Jun 2022 ₹4 Cr | Sep 2022 ₹7 Cr | Dec 2022 ₹6 Cr | Mar 2023 ₹12 Cr | Jun 2023 ₹8 Cr | Sep 2023 ₹6 Cr | Dec 2023 ₹4 Cr | Mar 2024 ₹2 Cr | Jun 2024 ₹3 Cr | Sep 2024 ₹4 Cr | Dec 2024 ₹5 Cr | Mar 2025 ₹5 Cr | Jun 2025 ₹8 Cr | Sep 2025 ₹2 Cr | Dec 2025 ₹4 Cr | Mar 2026 ₹7 Cr | Jun 2026 —
- LUXE: Sep 2021 ₹0 Cr | Dec 2021 ₹1 Cr | Mar 2022 ₹1 Cr | Jun 2022 ₹10 Cr | Sep 2022 ₹5 Cr | Dec 2022 ₹7 Cr | Mar 2023 ₹7 Cr | Jun 2023 ₹4 Cr | Sep 2023 ₹3 Cr | Dec 2023 ₹1 Cr | Mar 2024 ₹5 Cr | Jun 2024 ₹2 Cr | Sep 2024 ₹1 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹1 Cr | Jun 2025 ₹2 Cr | Sep 2025 ₹1 Cr | Dec 2025 ₹4 Cr | Mar 2026 ₹1 Cr | Jun 2026 —
- MOV: Sep 2021 ₹1 Cr | Dec 2021 ₹2 Cr | Mar 2022 ₹2 Cr | Jun 2022 ₹1 Cr | Sep 2022 ₹2 Cr | Dec 2022 ₹2 Cr | Mar 2023 ₹2 Cr | Jun 2023 ₹2 Cr | Sep 2023 ₹2 Cr | Dec 2023 ₹2 Cr | Mar 2024 ₹2 Cr | Jun 2024 ₹2 Cr | Sep 2024 ₹2 Cr | Dec 2024 ₹2 Cr | Mar 2025 ₹2 Cr | Jun 2025 ₹2 Cr | Sep 2025 ₹1 Cr | Dec 2025 ₹1 Cr | Mar 2026 ₹1 Cr | Jun 2026 ₹1 Cr
- ELA: Sep 2021 ₹3 Cr | Dec 2021 ₹0 Cr | Mar 2022 ₹0 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹0 Cr | Dec 2022 ₹0 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹1 Cr | Sep 2023 ₹0 Cr | Dec 2023 ₹1 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹1 Cr | Sep 2024 ₹2 Cr | Dec 2024 ₹1 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹0 Cr | Sep 2025 ₹0 Cr | Dec 2025 ₹0 Cr | Mar 2026 ₹1 Cr | Jun 2026 —
- LANV: Sep 2021 — | Dec 2021 ₹6 Cr | Mar 2022 — | Jun 2022 ₹9 Cr | Sep 2022 — | Dec 2022 ₹15 Cr | Mar 2023 — | Jun 2023 ₹29 Cr | Sep 2023 — | Dec 2023 ₹13 Cr | Mar 2024 — | Jun 2024 ₹6 Cr | Sep 2024 — | Dec 2024 ₹7 Cr | Mar 2025 — | Jun 2025 ₹3 Cr | Sep 2025 — | Dec 2025 ₹0 Cr | Mar 2026 — | Jun 2026 —
- BRLT: Sep 2021 ₹2 Cr | Dec 2021 ₹1 Cr | Mar 2022 ₹1 Cr | Jun 2022 ₹3 Cr | Sep 2022 ₹2 Cr | Dec 2022 ₹3 Cr | Mar 2023 ₹4 Cr | Jun 2023 ₹5 Cr | Sep 2023 ₹2 Cr | Dec 2023 ₹1 Cr | Mar 2024 ₹1 Cr | Jun 2024 ₹1 Cr | Sep 2024 ₹1 Cr | Dec 2024 ₹2 Cr | Mar 2025 ₹1 Cr | Jun 2025 ₹1 Cr | Sep 2025 ₹1 Cr | Dec 2025 ₹1 Cr | Mar 2026 ₹1 Cr | Jun 2026 —

### 20-quarter CAPEX intensity history
- TPR: Sep 2021 2.9% | Dec 2021 2.2% | Mar 2022 1.8% | Jun 2022 0.2% | Sep 2022 1.2% | Dec 2022 1.8% | Mar 2023 — | Jun 2023 2.7% | Sep 2023 2.2% | Dec 2023 1.1% | Mar 2024 1.3% | Jun 2024 2.9% | Sep 2024 1.7% | Dec 2024 1.4% | Mar 2025 2.0% | Jun 2025 2.0% | Sep 2025 1.9% | Dec 2025 1.8% | Mar 2026 1.9% | Jun 2026 —
- SIG: Sep 2021 1.2% | Dec 2021 1.2% | Mar 2022 1.2% | Jun 2022 1.1% | Sep 2022 2.1% | Dec 2022 2.3% | Mar 2023 1.7% | Jun 2023 1.6% | Sep 2023 1.7% | Dec 2023 2.4% | Mar 2024 1.6% | Jun 2024 1.5% | Sep 2024 1.9% | Dec 2024 4.7% | Mar 2025 0.4% | Jun 2025 2.4% | Sep 2025 1.6% | Dec 2025 2.4% | Mar 2026 2.6% | Jun 2026 1.6%
- CPRI: Sep 2021 1.9% | Dec 2021 2.3% | Mar 2022 — | Jun 2022 3.1% | Sep 2022 2.6% | Dec 2022 3.5% | Mar 2023 — | Jun 2023 4.3% | Sep 2023 4.1% | Dec 2023 3.4% | Mar 2024 — | Jun 2024 1.9% | Sep 2024 2.3% | Dec 2024 2.1% | Mar 2025 — | Jun 2025 1.6% | Sep 2025 1.5% | Dec 2025 1.9% | Mar 2026 — | Jun 2026 —
- REAL: Sep 2021 8.4% | Dec 2021 4.8% | Mar 2022 3.4% | Jun 2022 2.6% | Sep 2022 4.9% | Dec 2022 3.8% | Mar 2023 8.5% | Jun 2023 6.1% | Sep 2023 4.5% | Dec 2023 2.8% | Mar 2024 1.4% | Jun 2024 2.1% | Sep 2024 2.7% | Dec 2024 3.0% | Mar 2025 3.1% | Jun 2025 4.8% | Sep 2025 1.1% | Dec 2025 2.1% | Mar 2026 3.7% | Jun 2026 —
- LUXE: Sep 2021 0.0% | Dec 2021 0.5% | Mar 2022 0.6% | Jun 2022 5.7% | Sep 2022 2.8% | Dec 2022 3.7% | Mar 2023 3.5% | Jun 2023 2.0% | Sep 2023 1.6% | Dec 2023 0.5% | Mar 2024 2.1% | Jun 2024 0.9% | Sep 2024 0.5% | Dec 2024 0.0% | Mar 2025 0.4% | Jun 2025 0.3% | Sep 2025 0.2% | Dec 2025 0.6% | Mar 2026 0.2% | Jun 2026 —
- MOV: Sep 2021 0.6% | Dec 2021 0.9% | Mar 2022 1.0% | Jun 2022 0.6% | Sep 2022 1.1% | Dec 2022 0.9% | Mar 2023 1.1% | Jun 2023 1.4% | Sep 2023 1.3% | Dec 2023 1.1% | Mar 2024 1.2% | Jun 2024 1.5% | Sep 2024 1.3% | Dec 2024 1.1% | Mar 2025 1.1% | Jun 2025 1.5% | Sep 2025 0.6% | Dec 2025 0.5% | Mar 2026 0.5% | Jun 2026 0.7%
- ELA: Sep 2021 7.9% | Dec 2021 0.0% | Mar 2022 0.0% | Jun 2022 0.0% | Sep 2022 0.0% | Dec 2022 0.0% | Mar 2023 0.0% | Jun 2023 2.0% | Sep 2023 0.0% | Dec 2023 2.7% | Mar 2024 0.0% | Jun 2024 2.2% | Sep 2024 4.3% | Dec 2024 2.1% | Mar 2025 0.0% | Jun 2025 0.0% | Sep 2025 0.0% | Dec 2025 0.0% | Mar 2026 1.0% | Jun 2026 —
- LANV: Sep 2021 — | Dec 2021 3.1% | Mar 2022 — | Jun 2022 4.5% | Sep 2022 — | Dec 2022 6.8% | Mar 2023 — | Jun 2023 14% | Sep 2023 — | Dec 2023 6.1% | Mar 2024 — | Jun 2024 3.5% | Sep 2024 — | Dec 2024 4.4% | Mar 2025 — | Jun 2025 2.3% | Sep 2025 — | Dec 2025 0.0% | Mar 2026 — | Jun 2026 —
- BRLT: Sep 2021 2.1% | Dec 2021 0.8% | Mar 2022 1.0% | Jun 2022 2.8% | Sep 2022 1.8% | Dec 2022 2.5% | Mar 2023 4.1% | Jun 2023 4.5% | Sep 2023 1.8% | Dec 2023 0.8% | Mar 2024 1.0% | Jun 2024 1.0% | Sep 2024 1.0% | Dec 2024 1.7% | Mar 2025 1.1% | Jun 2025 0.9% | Sep 2025 0.9% | Dec 2025 0.8% | Mar 2026 1.0% | Jun 2026 —

## Debt Load & Balance-Sheet Headroom

What the numbers say: Movado Group, Inc. has the clearest covered balance-sheet capacity with $151 million net cash and gross debt of $74 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Evidence: Envela Corporation · $20 million | 48.7% versus #2 · Brilliant Earth Group, Inc. | 6/8 recent comparable periods | 8/9 companies · 150 observations

Definition: Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

### Gross debt — lowest gross debt
1. Envela Corporation (ELA): ₹20 Cr
2. Brilliant Earth Group, Inc. (BRLT): ₹39 Cr
3. Movado Group, Inc. (MOV): ₹74 Cr
4. LuxExperience B.V. (LUXE): ₹192 Cr
5. The RealReal, Inc. (REAL): ₹465 Cr

### Net debt — lowest net debt
1. Movado Group, Inc. (MOV): ₹-151 Cr
2. LuxExperience B.V. (LUXE): ₹-119 Cr
3. Brilliant Earth Group, Inc. (BRLT): ₹-20 Cr
4. Envela Corporation (ELA): ₹-19 Cr
5. The RealReal, Inc. (REAL): ₹341 Cr

### 20-quarter Gross debt history
- TPR: Sep 2021 ₹3.4K Cr | Dec 2021 ₹3.4K Cr | Mar 2022 ₹3.3K Cr | Jun 2022 ₹3.3K Cr | Sep 2022 ₹3.3K Cr | Dec 2022 ₹3.2K Cr | Mar 2023 — | Jun 2023 ₹3.3K Cr | Sep 2023 ₹3.3K Cr | Dec 2023 ₹9.3K Cr | Mar 2024 ₹9.3K Cr | Jun 2024 ₹8.8K Cr | Sep 2024 ₹8.8K Cr | Dec 2024 ₹4.1K Cr | Mar 2025 ₹4.1K Cr | Jun 2025 ₹3.9K Cr | Sep 2025 ₹4.2K Cr | Dec 2025 ₹3.9K Cr | Mar 2026 ₹3.9K Cr | Jun 2026 —
- SIG: Sep 2021 ₹1.5K Cr | Dec 2021 ₹1.4K Cr | Mar 2022 ₹1.5K Cr | Jun 2022 ₹1.4K Cr | Sep 2022 ₹1.4K Cr | Dec 2022 ₹1.3K Cr | Mar 2023 ₹1.3K Cr | Jun 2023 ₹1.3K Cr | Sep 2023 ₹1.3K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.2K Cr | Jun 2024 ₹1.2K Cr | Sep 2024 ₹1.0K Cr | Dec 2024 ₹1.4K Cr | Mar 2025 ₹1.2K Cr | Jun 2025 ₹1.2K Cr | Sep 2025 ₹1.2K Cr | Dec 2025 ₹1.2K Cr | Mar 2026 ₹1.2K Cr | Jun 2026 ₹1.2K Cr
- CPRI: Sep 2021 ₹3.1K Cr | Dec 2021 ₹2.9K Cr | Mar 2022 — | Jun 2022 ₹3.0K Cr | Sep 2022 ₹3.3K Cr | Dec 2022 ₹3.4K Cr | Mar 2023 — | Jun 2023 ₹3.6K Cr | Sep 2023 ₹3.7K Cr | Dec 2023 ₹3.7K Cr | Mar 2024 ₹3.6K Cr | Jun 2024 ₹3.5K Cr | Sep 2024 ₹3.5K Cr | Dec 2024 ₹3.1K Cr | Mar 2025 ₹2.6K Cr | Jun 2025 ₹2.7K Cr | Sep 2025 ₹2.9K Cr | Dec 2025 ₹1.3K Cr | Mar 2026 ₹1.4K Cr | Jun 2026 —
- REAL: Sep 2021 ₹505 Cr | Dec 2021 ₹510 Cr | Mar 2022 ₹605 Cr | Jun 2022 ₹601 Cr | Sep 2022 ₹599 Cr | Dec 2022 ₹596 Cr | Mar 2023 ₹589 Cr | Jun 2023 ₹584 Cr | Sep 2023 ₹582 Cr | Dec 2023 ₹577 Cr | Mar 2024 ₹556 Cr | Jun 2024 ₹553 Cr | Sep 2024 ₹548 Cr | Dec 2024 ₹547 Cr | Mar 2025 ₹504 Cr | Jun 2025 ₹473 Cr | Sep 2025 ₹468 Cr | Dec 2025 ₹463 Cr | Mar 2026 ₹465 Cr | Jun 2026 —
- LUXE: Sep 2021 ₹23 Cr | Dec 2021 ₹22 Cr | Mar 2022 ₹22 Cr | Jun 2022 ₹22 Cr | Sep 2022 ₹45 Cr | Dec 2022 ₹45 Cr | Mar 2023 ₹62 Cr | Jun 2023 ₹58 Cr | Sep 2023 ₹72 Cr | Dec 2023 ₹55 Cr | Mar 2024 ₹78 Cr | Jun 2024 ₹50 Cr | Sep 2024 ₹74 Cr | Dec 2024 ₹88 Cr | Mar 2025 ₹70 Cr | Jun 2025 ₹219 Cr | Sep 2025 ₹214 Cr | Dec 2025 ₹190 Cr | Mar 2026 ₹192 Cr | Jun 2026 —
- MOV: Sep 2021 ₹79 Cr | Dec 2021 ₹77 Cr | Mar 2022 ₹76 Cr | Jun 2022 ₹87 Cr | Sep 2022 ₹84 Cr | Dec 2022 ₹82 Cr | Mar 2023 ₹89 Cr | Jun 2023 ₹84 Cr | Sep 2023 ₹81 Cr | Dec 2023 ₹93 Cr | Mar 2024 ₹92 Cr | Jun 2024 ₹98 Cr | Sep 2024 ₹95 Cr | Dec 2024 ₹98 Cr | Mar 2025 ₹95 Cr | Jun 2025 ₹92 Cr | Sep 2025 ₹88 Cr | Dec 2025 ₹83 Cr | Mar 2026 ₹79 Cr | Jun 2026 ₹74 Cr
- ELA: Sep 2021 ₹21 Cr | Dec 2021 ₹26 Cr | Mar 2022 ₹24 Cr | Jun 2022 ₹23 Cr | Sep 2022 ₹23 Cr | Dec 2022 ₹22 Cr | Mar 2023 ₹21 Cr | Jun 2023 ₹21 Cr | Sep 2023 ₹20 Cr | Dec 2023 ₹19 Cr | Mar 2024 ₹19 Cr | Jun 2024 ₹18 Cr | Sep 2024 ₹18 Cr | Dec 2024 ₹18 Cr | Mar 2025 ₹18 Cr | Jun 2025 ₹18 Cr | Sep 2025 ₹23 Cr | Dec 2025 ₹20 Cr | Mar 2026 ₹20 Cr | Jun 2026 —
- BRLT: Sep 2021 ₹65 Cr | Dec 2021 ₹66 Cr | Mar 2022 ₹87 Cr | Jun 2022 ₹89 Cr | Sep 2022 ₹90 Cr | Dec 2022 ₹95 Cr | Mar 2023 ₹101 Cr | Jun 2023 — | Sep 2023 ₹102 Cr | Dec 2023 ₹100 Cr | Mar 2024 ₹101 Cr | Jun 2024 ₹102 Cr | Sep 2024 ₹101 Cr | Dec 2024 ₹98 Cr | Mar 2025 ₹99 Cr | Jun 2025 ₹77 Cr | Sep 2025 ₹40 Cr | Dec 2025 ₹38 Cr | Mar 2026 ₹39 Cr | Jun 2026 —

### 20-quarter Net debt history
- TPR: Sep 2021 ₹1.4K Cr | Dec 2021 ₹1.7K Cr | Mar 2022 ₹1.7K Cr | Jun 2022 ₹2.2K Cr | Sep 2022 ₹2.3K Cr | Dec 2022 ₹2.7K Cr | Mar 2023 — | Jun 2023 ₹2.6K Cr | Sep 2023 ₹2.6K Cr | Dec 2023 ₹1.9K Cr | Mar 2024 ₹1.9K Cr | Jun 2024 ₹1.6K Cr | Sep 2024 ₹1.5K Cr | Dec 2024 ₹3.1K Cr | Mar 2025 ₹3.1K Cr | Jun 2025 ₹2.8K Cr | Sep 2025 ₹3.5K Cr | Dec 2025 ₹2.9K Cr | Mar 2026 ₹2.9K Cr | Jun 2026 —
- SIG: Sep 2021 ₹-52 Cr | Dec 2021 ₹-71 Cr | Mar 2022 ₹34 Cr | Jun 2022 ₹454 Cr | Sep 2022 ₹502 Cr | Dec 2022 ₹1.0K Cr | Mar 2023 ₹163 Cr | Jun 2023 ₹667 Cr | Sep 2023 ₹622 Cr | Dec 2023 ₹626 Cr | Mar 2024 ₹-135 Cr | Jun 2024 ₹490 Cr | Sep 2024 ₹641 Cr | Dec 2024 ₹1.2K Cr | Mar 2025 ₹576 Cr | Jun 2025 ₹917 Cr | Sep 2025 ₹897 Cr | Dec 2025 ₹917 Cr | Mar 2026 ₹342 Cr | Jun 2026 ₹621 Cr
- CPRI: Sep 2021 ₹2.9K Cr | Dec 2021 ₹2.7K Cr | Mar 2022 — | Jun 2022 ₹2.9K Cr | Sep 2022 ₹3.1K Cr | Dec 2022 ₹3.2K Cr | Mar 2023 — | Jun 2023 ₹3.4K Cr | Sep 2023 ₹3.5K Cr | Dec 2023 ₹3.5K Cr | Mar 2024 ₹3.4K Cr | Jun 2024 ₹3.3K Cr | Sep 2024 ₹3.3K Cr | Dec 2024 ₹2.8K Cr | Mar 2025 ₹2.4K Cr | Jun 2025 ₹2.6K Cr | Sep 2025 ₹2.8K Cr | Dec 2025 ₹1.2K Cr | Mar 2026 ₹1.3K Cr | Jun 2026 —
- REAL: Sep 2021 ₹60 Cr | Dec 2021 ₹92 Cr | Mar 2022 ₹244 Cr | Jun 2022 ₹285 Cr | Sep 2022 ₹299 Cr | Dec 2022 ₹302 Cr | Mar 2023 ₹342 Cr | Jun 2023 ₹395 Cr | Sep 2023 ₹411 Cr | Dec 2023 ₹401 Cr | Mar 2024 ₹390 Cr | Jun 2024 ₹402 Cr | Sep 2024 ₹395 Cr | Dec 2024 ₹375 Cr | Mar 2025 ₹364 Cr | Jun 2025 ₹379 Cr | Sep 2025 ₹360 Cr | Dec 2025 ₹312 Cr | Mar 2026 ₹341 Cr | Jun 2026 —
- LUXE: Sep 2021 ₹-33 Cr | Dec 2021 ₹-58 Cr | Mar 2022 ₹-72 Cr | Jun 2022 ₹-92 Cr | Sep 2022 ₹-43 Cr | Dec 2022 ₹-7 Cr | Mar 2023 ₹49 Cr | Jun 2023 ₹28 Cr | Sep 2023 ₹65 Cr | Dec 2023 ₹49 Cr | Mar 2024 ₹67 Cr | Jun 2024 ₹35 Cr | Sep 2024 ₹65 Cr | Dec 2024 ₹74 Cr | Mar 2025 ₹56 Cr | Jun 2025 ₹-385 Cr | Sep 2025 ₹-247 Cr | Dec 2025 ₹-229 Cr | Mar 2026 ₹-119 Cr | Jun 2026 —
- MOV: Sep 2021 ₹-121 Cr | Dec 2021 ₹-125 Cr | Mar 2022 ₹-201 Cr | Jun 2022 ₹-138 Cr | Sep 2022 ₹-119 Cr | Dec 2022 ₹-105 Cr | Mar 2023 ₹-163 Cr | Jun 2023 ₹-114 Cr | Sep 2023 ₹-138 Cr | Dec 2023 ₹-108 Cr | Mar 2024 ₹-170 Cr | Jun 2024 ₹-127 Cr | Sep 2024 ₹-103 Cr | Dec 2024 ₹-84 Cr | Mar 2025 ₹-114 Cr | Jun 2025 ₹-111 Cr | Sep 2025 ₹-92 Cr | Dec 2025 ₹-101 Cr | Mar 2026 ₹-152 Cr | Jun 2026 ₹-151 Cr
- ELA: Sep 2021 ₹13 Cr | Dec 2021 ₹16 Cr | Mar 2022 ₹13 Cr | Jun 2022 ₹9 Cr | Sep 2022 ₹8 Cr | Dec 2022 ₹5 Cr | Mar 2023 ₹1 Cr | Jun 2023 ₹3 Cr | Sep 2023 ₹3 Cr | Dec 2023 ₹1 Cr | Mar 2024 ₹-1 Cr | Jun 2024 ₹1 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹-3 Cr | Mar 2025 ₹-3 Cr | Jun 2025 ₹-5 Cr | Sep 2025 ₹-1 Cr | Dec 2025 ₹2 Cr | Mar 2026 ₹-19 Cr | Jun 2026 —
- BRLT: Sep 2021 ₹-96 Cr | Dec 2021 ₹-107 Cr | Mar 2022 ₹-78 Cr | Jun 2022 ₹-67 Cr | Sep 2022 ₹-63 Cr | Dec 2022 ₹-60 Cr | Mar 2023 ₹-45 Cr | Jun 2023 — | Sep 2023 ₹-45 Cr | Dec 2023 ₹-56 Cr | Mar 2024 ₹-46 Cr | Jun 2024 ₹-50 Cr | Sep 2024 ₹-52 Cr | Dec 2024 ₹-64 Cr | Mar 2025 ₹-48 Cr | Jun 2025 ₹-57 Cr | Sep 2025 ₹-33 Cr | Dec 2025 ₹-41 Cr | Mar 2026 ₹-20 Cr | Jun 2026 —

## Return On Capital Employed

What the numbers say: Envela Corporation leads ROCE at 14.6%, 6.6 percentage points above Tapestry, Inc.. Envela Corporation has the strongest latest improvement at +9.9 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: Envela Corporation sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: Envela Corporation · 14.6% | 82.5% versus #2 · Tapestry, Inc. | 6/8 recent comparable periods | 9/9 companies · 166 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. Envela Corporation (ELA): 15%
2. Tapestry, Inc. (TPR): 8.0%
3. Movado Group, Inc. (MOV): 1.1%
4. Signet Jewelers Limited (SIG): 0.9%
5. Capri Holdings Limited (CPRI): -0.9%

### ROCE change — fastest improvers
1. Envela Corporation (ELA): +9.9 pp
2. Tapestry, Inc. (TPR): +5.2 pp
3. The RealReal, Inc. (REAL): +4.9 pp
4. Movado Group, Inc. (MOV): +1.1 pp
5. Capri Holdings Limited (CPRI): +0.4 pp

### 20-quarter ROCE history
- TPR: Sep 2021 — | Dec 2021 4.7% | Mar 2022 7.3% | Jun 2022 2.8% | Sep 2022 3.9% | Dec 2022 4.2% | Mar 2023 — | Jun 2023 4.0% | Sep 2023 4.7% | Dec 2023 4.9% | Mar 2024 2.2% | Jun 2024 2.7% | Sep 2024 2.8% | Dec 2024 5.5% | Mar 2025 2.8% | Jun 2025 -7.0% | Sep 2025 4.0% | Dec 2025 14% | Mar 2026 8.0% | Jun 2026 —
- SIG: Sep 2021 — | Dec 2021 2.3% | Mar 2022 9.3% | Jun 2022 0.0% | Sep 2022 4.3% | Dec 2022 1.1% | Mar 2023 8.3% | Jun 2023 2.4% | Sep 2023 2.1% | Dec 2023 0.3% | Mar 2024 9.0% | Jun 2024 1.1% | Sep 2024 -2.4% | Dec 2024 0.2% | Mar 2025 15% | Jun 2025 1.2% | Sep 2025 0.1% | Dec 2025 0.6% | Mar 2026 8.0% | Jun 2026 0.9%
- CPRI: Sep 2021 3.2% | Dec 2021 5.5% | Mar 2022 — | Jun 2022 2.0% | Sep 2022 3.8% | Dec 2022 4.2% | Mar 2023 — | Jun 2023 -0.7% | Sep 2023 1.3% | Dec 2023 2.1% | Mar 2024 0.7% | Jun 2024 0.2% | Sep 2024 -0.1% | Dec 2024 0.5% | Mar 2025 -1.3% | Jun 2025 0.4% | Sep 2025 -0.3% | Dec 2025 1.4% | Mar 2026 -0.9% | Jun 2026 —
- REAL: Sep 2021 -9.3% | Dec 2021 -9.0% | Mar 2022 -9.1% | Jun 2022 -9.2% | Sep 2022 -8.7% | Dec 2022 -7.8% | Mar 2023 -19% | Jun 2023 -11% | Sep 2023 -6.3% | Dec 2023 -6.3% | Mar 2024 -6.3% | Jun 2024 -7.7% | Sep 2024 -6.4% | Dec 2024 -2.4% | Mar 2025 -6.4% | Jun 2025 -5.7% | Sep 2025 -4.7% | Dec 2025 3.9% | Mar 2026 -1.5% | Jun 2026 —
- LUXE: Sep 2021 -1.0% | Dec 2021 2.5% | Mar 2022 -0.5% | Jun 2022 0.3% | Sep 2022 -0.2% | Dec 2022 0.8% | Mar 2023 -1.4% | Jun 2023 -0.6% | Sep 2023 -2.8% | Dec 2023 -1.0% | Mar 2024 -0.4% | Jun 2024 -0.3% | Sep 2024 -6.3% | Dec 2024 -0.5% | Mar 2025 -1.2% | Jun 2025 59% | Sep 2025 -8.6% | Dec 2025 -1.1% | Mar 2026 -3.2% | Jun 2026 —
- MOV: Sep 2021 — | Dec 2021 7.1% | Mar 2022 6.4% | Jun 2022 4.3% | Sep 2022 5.2% | Dec 2022 6.3% | Mar 2023 4.2% | Jun 2023 1.8% | Sep 2023 1.6% | Dec 2023 3.3% | Mar 2024 2.1% | Jun 2024 0.3% | Sep 2024 0.5% | Dec 2024 1.0% | Mar 2025 1.5% | Jun 2025 0.0% | Sep 2025 0.6% | Dec 2025 1.9% | Mar 2026 2.2% | Jun 2026 1.1%
- ELA: Sep 2021 7.2% | Dec 2021 6.7% | Mar 2022 6.5% | Jun 2022 8.6% | Sep 2022 6.8% | Dec 2022 6.6% | Mar 2023 5.4% | Jun 2023 3.5% | Sep 2023 3.2% | Dec 2023 2.5% | Mar 2024 3.6% | Jun 2024 2.9% | Sep 2024 3.1% | Dec 2024 2.9% | Mar 2025 4.7% | Jun 2025 4.8% | Sep 2025 5.8% | Dec 2025 11% | Mar 2026 15% | Jun 2026 —
- LANV: Sep 2021 0.0% | Dec 2021 0.0% | Mar 2022 -15% | Jun 2022 -15% | Sep 2022 -17% | Dec 2022 -17% | Mar 2023 -6.9% | Jun 2023 -6.9% | Sep 2023 -6.9% | Dec 2023 -6.9% | Mar 2024 -7.2% | Jun 2024 -7.2% | Sep 2024 -17% | Dec 2024 -17% | Mar 2025 -17% | Jun 2025 -17% | Sep 2025 -144% | Dec 2025 -144% | Mar 2026 — | Jun 2026 —
- BRLT: Sep 2021 12% | Dec 2021 15% | Mar 2022 7.9% | Jun 2022 6.7% | Sep 2022 4.3% | Dec 2022 3.9% | Mar 2023 -0.1% | Jun 2023 1.6% | Sep 2023 1.1% | Dec 2023 0.6% | Mar 2024 0.4% | Jun 2024 1.1% | Sep 2024 -0.5% | Dec 2024 1.2% | Mar 2025 -1.8% | Jun 2025 -0.7% | Sep 2025 -0.4% | Dec 2025 0.0% | Mar 2026 -6.2% | Jun 2026 —

### 20-quarter ROCE change history
- TPR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −0.5 pp | Mar 2023 — | Jun 2023 +1.2 pp | Sep 2023 +0.8 pp | Dec 2023 +0.7 pp | Mar 2024 — | Jun 2024 −1.3 pp | Sep 2024 −1.9 pp | Dec 2024 +0.6 pp | Mar 2025 +0.6 pp | Jun 2025 −9.7 pp | Sep 2025 +1.2 pp | Dec 2025 +8.4 pp | Mar 2026 +5.2 pp | Jun 2026 —
- SIG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −1.2 pp | Mar 2023 −1.0 pp | Jun 2023 +2.4 pp | Sep 2023 −2.2 pp | Dec 2023 −0.8 pp | Mar 2024 +0.7 pp | Jun 2024 −1.3 pp | Sep 2024 −4.5 pp | Dec 2024 −0.1 pp | Mar 2025 +6.2 pp | Jun 2025 +0.1 pp | Sep 2025 +2.5 pp | Dec 2025 +0.4 pp | Mar 2026 −7.2 pp | Jun 2026 −0.3 pp
- CPRI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.6 pp | Dec 2022 −1.3 pp | Mar 2023 — | Jun 2023 −2.7 pp | Sep 2023 −2.5 pp | Dec 2023 −2.1 pp | Mar 2024 — | Jun 2024 +0.9 pp | Sep 2024 −1.4 pp | Dec 2024 −1.6 pp | Mar 2025 −2.0 pp | Jun 2025 +0.2 pp | Sep 2025 −0.2 pp | Dec 2025 +0.9 pp | Mar 2026 +0.4 pp | Jun 2026 —
- REAL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.6 pp | Dec 2022 +1.2 pp | Mar 2023 −10.2 pp | Jun 2023 −1.5 pp | Sep 2023 +2.4 pp | Dec 2023 +1.5 pp | Mar 2024 +13.0 pp | Jun 2024 +3.0 pp | Sep 2024 −0.1 pp | Dec 2024 +3.9 pp | Mar 2025 −0.1 pp | Jun 2025 +2.0 pp | Sep 2025 +1.7 pp | Dec 2025 +6.3 pp | Mar 2026 +4.9 pp | Jun 2026 —
- LUXE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.8 pp | Dec 2022 −1.7 pp | Mar 2023 −0.9 pp | Jun 2023 −0.9 pp | Sep 2023 −2.6 pp | Dec 2023 −1.8 pp | Mar 2024 +1.0 pp | Jun 2024 +0.3 pp | Sep 2024 −3.5 pp | Dec 2024 +0.5 pp | Mar 2025 −0.8 pp | Jun 2025 +59.4 pp | Sep 2025 −2.3 pp | Dec 2025 −0.6 pp | Mar 2026 −2.0 pp | Jun 2026 —
- MOV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −0.8 pp | Mar 2023 −2.2 pp | Jun 2023 −2.5 pp | Sep 2023 −3.6 pp | Dec 2023 −3.0 pp | Mar 2024 −2.1 pp | Jun 2024 −1.5 pp | Sep 2024 −1.1 pp | Dec 2024 −2.3 pp | Mar 2025 −0.6 pp | Jun 2025 −0.3 pp | Sep 2025 +0.1 pp | Dec 2025 +0.9 pp | Mar 2026 +0.7 pp | Jun 2026 +1.1 pp
- ELA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.4 pp | Dec 2022 −0.1 pp | Mar 2023 −1.1 pp | Jun 2023 −5.1 pp | Sep 2023 −3.6 pp | Dec 2023 −4.1 pp | Mar 2024 −1.8 pp | Jun 2024 −0.6 pp | Sep 2024 −0.1 pp | Dec 2024 +0.4 pp | Mar 2025 +1.1 pp | Jun 2025 +1.9 pp | Sep 2025 +2.7 pp | Dec 2025 +7.7 pp | Mar 2026 +9.9 pp | Jun 2026 —
- LANV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −16.7 pp | Dec 2022 −16.7 pp | Mar 2023 +8.3 pp | Jun 2023 +8.3 pp | Sep 2023 +9.8 pp | Dec 2023 +9.8 pp | Mar 2024 −0.3 pp | Jun 2024 −0.3 pp | Sep 2024 −9.8 pp | Dec 2024 −9.8 pp | Mar 2025 −9.7 pp | Jun 2025 −9.7 pp | Sep 2025 −127.0 pp | Dec 2025 −127.0 pp | Mar 2026 — | Jun 2026 —
- BRLT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −7.5 pp | Dec 2022 −11.2 pp | Mar 2023 −8.0 pp | Jun 2023 −5.1 pp | Sep 2023 −3.2 pp | Dec 2023 −3.3 pp | Mar 2024 +0.5 pp | Jun 2024 −0.5 pp | Sep 2024 −1.6 pp | Dec 2024 +0.6 pp | Mar 2025 −2.2 pp | Jun 2025 −1.8 pp | Sep 2025 +0.1 pp | Dec 2025 −1.2 pp | Mar 2026 −4.4 pp | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: Signet Jewelers Limited has the lowest comparable Guarded PEG at 0.04×, 91.1% below Movado Group, Inc.. Only 3 of 9 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: Signet Jewelers Limited · 0.04× | 91.1% versus #2 · Movado Group, Inc. | 0/8 recent comparable periods | 3/9 companies · 9 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

### Guarded PEG — lowest PEG
1. Signet Jewelers Limited (SIG): 0.0
2. Movado Group, Inc. (MOV): 0.5
3. Envela Corporation (ELA): 0.5

### P/E — lowest P/E
1. Signet Jewelers Limited (SIG): 1.2
2. LuxExperience B.V. (LUXE): 1.9
3. Capri Holdings Limited (CPRI): 15.1
4. Movado Group, Inc. (MOV): 19.5
5. Envela Corporation (ELA): 20.6

### 20-quarter Guarded PEG history
- SIG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 0.0 | Sep 2023 0.1 | Dec 2023 0.0 | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- MOV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 1.8 | Mar 2026 0.5 | Jun 2026 —
- ELA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.3 | Jun 2023 2.3 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 1.3 | Jun 2025 0.5 | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter P/E history
- TPR: Sep 2021 — | Dec 2021 13.0 | Mar 2022 13.7 | Jun 2022 11.7 | Sep 2022 9.7 | Dec 2022 9.0 | Mar 2023 — | Jun 2023 11.7 | Sep 2023 11.0 | Dec 2023 9.3 | Mar 2024 12.6 | Jun 2024 12.2 | Sep 2024 13.9 | Dec 2024 19.1 | Mar 2025 18.5 | Jun 2025 106.2 | Sep 2025 97.4 | Dec 2025 54.3 | Mar 2026 44.5 | Jun 2026 —
- SIG: Sep 2021 — | Dec 2021 0.6 | Mar 2022 0.7 | Jun 2022 0.6 | Sep 2022 0.7 | Dec 2022 0.8 | Mar 2023 1.1 | Jun 2023 0.6 | Sep 2023 0.8 | Dec 2023 0.9 | Mar 2024 0.7 | Jun 2024 2.3 | Sep 2024 8.5 | Dec 2024 9.0 | Mar 2025 — | Jun 2025 6.7 | Sep 2025 2.5 | Dec 2025 3.0 | Mar 2026 1.3 | Jun 2026 1.2
- CPRI: Sep 2021 19.6 | Dec 2021 17.1 | Mar 2022 — | Jun 2022 9.5 | Sep 2022 7.7 | Dec 2022 6.8 | Mar 2023 — | Jun 2023 10.2 | Sep 2023 10.3 | Dec 2023 28.2 | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 15.2 | Jun 2026 —
- LUXE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 1.2 | Sep 2025 1.9 | Dec 2025 1.8 | Mar 2026 1.9 | Jun 2026 —
- MOV: Sep 2021 — | Dec 2021 8.7 | Mar 2022 9.7 | Jun 2022 8.4 | Sep 2022 7.6 | Dec 2022 7.4 | Mar 2023 9.0 | Jun 2023 6.9 | Sep 2023 9.4 | Dec 2023 11.5 | Mar 2024 15.1 | Jun 2024 16.4 | Sep 2024 19.3 | Dec 2024 21.0 | Mar 2025 23.6 | Jun 2025 17.8 | Sep 2025 20.4 | Dec 2025 18.8 | Mar 2026 19.5 | Jun 2026 19.5
- ELA: Sep 2021 12.6 | Dec 2021 11.0 | Mar 2022 11.7 | Jun 2022 15.5 | Sep 2022 11.0 | Dec 2022 9.1 | Mar 2023 11.4 | Jun 2023 15.0 | Sep 2023 11.0 | Dec 2023 18.0 | Mar 2024 19.3 | Jun 2024 18.7 | Sep 2024 22.8 | Dec 2024 27.6 | Mar 2025 22.3 | Jun 2025 18.6 | Sep 2025 19.5 | Dec 2025 23.9 | Mar 2026 20.6 | Jun 2026 —
- BRLT: Sep 2021 1,945.7 | Dec 2021 90.3 | Mar 2022 514.6 | Jun 2022 27.9 | Sep 2022 27.3 | Dec 2022 28.7 | Mar 2023 30.1 | Jun 2023 35.3 | Sep 2023 36.9 | Dec 2023 93.0 | Mar 2024 49.8 | Jun 2024 37.0 | Sep 2024 71.3 | Dec 2024 70.0 | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

## Enterprise Value & Book Value

What the numbers say: LuxExperience B.V. leads ev/ebitda at 1.56×; Signet Jewelers Limited leads p/bv at 0.18×.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Evidence: LuxExperience B.V. · 1.56× | 14.3% versus #2 · Signet Jewelers Limited | 0/8 recent comparable periods | 8/9 companies · 118 observations

Definition: EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

### EV/EBITDA — lowest EV/EBITDA
1. LuxExperience B.V. (LUXE): 1.6
2. Signet Jewelers Limited (SIG): 1.8
3. Movado Group, Inc. (MOV): 9.8
4. Capri Holdings Limited (CPRI): 14.0
5. Envela Corporation (ELA): 14.7

### P/BV — lowest P/BV
1. Signet Jewelers Limited (SIG): 0.2
2. LuxExperience B.V. (LUXE): 0.8
3. Movado Group, Inc. (MOV): 1.2
4. Brilliant Earth Group, Inc. (BRLT): 1.9
5. Envela Corporation (ELA): 5.7

### 20-quarter EV/EBITDA history
- TPR: Sep 2021 — | Dec 2021 9.5 | Mar 2022 9.2 | Jun 2022 8.1 | Sep 2022 7.1 | Dec 2022 7.2 | Mar 2023 — | Jun 2023 9.5 | Sep 2023 8.8 | Dec 2023 7.5 | Mar 2024 9.4 | Jun 2024 8.3 | Sep 2024 9.3 | Dec 2024 11.9 | Mar 2025 12.1 | Jun 2025 32.7 | Sep 2025 36.3 | Dec 2025 31.6 | Mar 2026 27.9 | Jun 2026 —
- SIG: Sep 2021 — | Dec 2021 0.9 | Mar 2022 1.0 | Jun 2022 1.6 | Sep 2022 1.7 | Dec 2022 2.4 | Mar 2023 1.5 | Jun 2023 1.9 | Sep 2023 2.1 | Dec 2023 2.1 | Mar 2024 1.2 | Jun 2024 1.7 | Sep 2024 2.3 | Dec 2024 3.1 | Mar 2025 3.2 | Jun 2025 1.5 | Sep 2025 1.4 | Dec 2025 1.5 | Mar 2026 1.3 | Jun 2026 1.8
- CPRI: Sep 2021 15.8 | Dec 2021 14.0 | Mar 2022 — | Jun 2022 9.3 | Sep 2022 8.2 | Dec 2022 7.4 | Mar 2023 — | Jun 2023 10.3 | Sep 2023 10.8 | Dec 2023 20.7 | Mar 2024 26.2 | Jun 2024 18.1 | Sep 2024 28.8 | Dec 2024 31.5 | Mar 2025 23.6 | Jun 2025 43.8 | Sep 2025 53.4 | Dec 2025 49.9 | Mar 2026 14.0 | Jun 2026 —
- REAL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 240.3 | Mar 2026 74.4 | Jun 2026 —
- LUXE: Sep 2021 — | Dec 2021 — | Mar 2022 139.3 | Jun 2022 59.2 | Sep 2022 67.7 | Dec 2022 44.6 | Mar 2023 47.6 | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 1.0 | Sep 2025 — | Dec 2025 — | Mar 2026 1.6 | Jun 2026 —
- MOV: Sep 2021 — | Dec 2021 5.5 | Mar 2022 5.0 | Jun 2022 4.8 | Sep 2022 4.4 | Dec 2022 4.4 | Mar 2023 5.0 | Jun 2023 3.9 | Sep 2023 5.3 | Dec 2023 6.6 | Mar 2024 7.6 | Jun 2024 8.0 | Sep 2024 9.8 | Dec 2024 9.7 | Mar 2025 10.6 | Jun 2025 7.2 | Sep 2025 8.8 | Dec 2025 8.8 | Mar 2026 9.0 | Jun 2026 9.8
- ELA: Sep 2021 13.5 | Dec 2021 12.1 | Mar 2022 12.1 | Jun 2022 15.0 | Sep 2022 9.9 | Dec 2022 9.5 | Mar 2023 11.1 | Jun 2023 14.3 | Sep 2023 10.6 | Dec 2023 12.9 | Mar 2024 12.9 | Jun 2024 12.9 | Sep 2024 15.4 | Dec 2024 19.0 | Mar 2025 15.0 | Jun 2025 12.8 | Sep 2025 14.1 | Dec 2025 17.5 | Mar 2026 14.7 | Jun 2026 —
- BRLT: Sep 2021 2.2 | Dec 2021 3.5 | Mar 2022 2.5 | Jun 2022 1.6 | Sep 2022 2.4 | Dec 2022 2.8 | Mar 2023 4.0 | Jun 2023 2.8 | Sep 2023 5.6 | Dec 2023 8.7 | Mar 2024 8.0 | Jun 2024 6.9 | Sep 2024 9.4 | Dec 2024 6.8 | Mar 2025 13.6 | Jun 2025 20.8 | Sep 2025 21.1 | Dec 2025 72.9 | Mar 2026 — | Jun 2026 —

### 20-quarter P/BV history
- TPR: Sep 2021 — | Dec 2021 3.3 | Mar 2022 3.7 | Jun 2022 3.6 | Sep 2022 3.3 | Dec 2022 3.0 | Mar 2023 — | Jun 2023 4.4 | Sep 2023 4.3 | Dec 2023 3.2 | Mar 2024 3.9 | Jun 2024 3.4 | Sep 2024 3.8 | Dec 2024 10.2 | Mar 2025 9.8 | Jun 2025 21.1 | Sep 2025 56.2 | Dec 2025 48.3 | Mar 2026 41.2 | Jun 2026 —
- SIG: Sep 2021 — | Dec 2021 0.3 | Mar 2022 0.3 | Jun 2022 0.3 | Sep 2022 0.2 | Dec 2022 0.2 | Mar 2023 0.2 | Jun 2023 0.2 | Sep 2023 0.2 | Dec 2023 0.2 | Mar 2024 0.2 | Jun 2024 0.2 | Sep 2024 0.2 | Dec 2024 0.2 | Mar 2025 0.1 | Jun 2025 0.1 | Sep 2025 0.2 | Dec 2025 0.2 | Mar 2026 0.2 | Jun 2026 0.2
- CPRI: Sep 2021 3.0 | Dec 2021 3.3 | Mar 2022 — | Jun 2022 2.9 | Sep 2022 2.4 | Dec 2022 2.4 | Mar 2023 — | Jun 2023 3.0 | Sep 2023 2.3 | Dec 2023 3.0 | Mar 2024 3.3 | Jun 2024 2.5 | Sep 2024 3.1 | Dec 2024 2.3 | Mar 2025 6.5 | Jun 2025 -123.1 | Sep 2025 -32.0 | Dec 2025 28.4 | Mar 2026 24.9 | Jun 2026 —
- REAL: Sep 2021 11.0 | Dec 2021 14.8 | Mar 2022 -9.9 | Jun 2022 -2.2 | Sep 2022 -1.0 | Dec 2022 -0.7 | Mar 2023 -0.5 | Jun 2023 -0.8 | Sep 2023 -0.8 | Dec 2023 -0.7 | Mar 2024 -1.3 | Jun 2024 -1.0 | Sep 2024 -1.0 | Dec 2024 -3.0 | Mar 2025 -1.8 | Jun 2025 -1.6 | Sep 2025 -3.2 | Dec 2025 -4.5 | Mar 2026 -3.0 | Jun 2026 —
- LUXE: Sep 2021 5.0 | Dec 2021 3.8 | Mar 2022 2.2 | Jun 2022 1.9 | Sep 2022 2.3 | Dec 2022 1.6 | Mar 2023 1.2 | Jun 2023 0.7 | Sep 2023 0.6 | Dec 2023 0.6 | Mar 2024 0.6 | Jun 2024 0.9 | Sep 2024 0.7 | Dec 2024 1.4 | Mar 2025 1.4 | Jun 2025 0.7 | Sep 2025 0.8 | Dec 2025 0.8 | Mar 2026 0.8 | Jun 2026 —
- MOV: Sep 2021 — | Dec 2021 1.7 | Mar 2022 1.8 | Jun 2022 1.8 | Sep 2022 1.6 | Dec 2022 1.5 | Mar 2023 1.6 | Jun 2023 1.2 | Sep 2023 1.3 | Dec 2023 1.2 | Mar 2024 1.2 | Jun 2024 1.2 | Sep 2024 1.2 | Dec 2024 0.8 | Mar 2025 0.9 | Jun 2025 0.6 | Sep 2025 0.7 | Dec 2025 0.8 | Mar 2026 1.0 | Jun 2026 1.2
- ELA: Sep 2021 4.5 | Dec 2021 4.0 | Mar 2022 4.1 | Jun 2022 5.6 | Sep 2022 3.6 | Dec 2022 3.3 | Mar 2023 3.8 | Jun 2023 4.2 | Sep 2023 2.7 | Dec 2023 2.7 | Mar 2024 2.5 | Jun 2024 2.3 | Sep 2024 2.8 | Dec 2024 3.5 | Mar 2025 2.9 | Jun 2025 2.8 | Sep 2025 3.3 | Dec 2025 5.2 | Mar 2026 5.7 | Jun 2026 —
- LANV: Sep 2021 8.2 | Dec 2021 8.2 | Mar 2022 — | Jun 2022 — | Sep 2022 18.2 | Dec 2022 3.8 | Mar 2023 2.7 | Jun 2023 1.9 | Sep 2023 3.0 | Dec 2023 1.3 | Mar 2024 1.0 | Jun 2024 1.8 | Sep 2024 -41.0 | Dec 2024 -61.2 | Mar 2025 -3.7 | Jun 2025 -2.4 | Sep 2025 -0.8 | Dec 2025 -0.8 | Mar 2026 — | Jun 2026 —
- BRLT: Sep 2021 18.1 | Dec 2021 20.7 | Mar 2022 11.9 | Jun 2022 5.7 | Sep 2022 6.5 | Dec 2022 4.4 | Mar 2023 4.0 | Jun 2023 — | Sep 2023 3.1 | Dec 2023 3.7 | Mar 2024 2.9 | Jun 2024 2.1 | Sep 2024 2.0 | Dec 2024 1.9 | Mar 2025 1.5 | Jun 2025 1.3 | Sep 2025 2.6 | Dec 2025 2.2 | Mar 2026 1.9 | Jun 2026 —

## Market action

Envela Corporation has the strongest one-year price move in Luxury Goods at +289.6%. Movado Group, Inc. leads on Mansfield relative strength against the S&P 500 at +42.9%. 4 of 9 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

### Strongest one-year price performers
1. Envela Corporation (ELA): 290%
2. Movado Group, Inc. (MOV): 152%
3. The RealReal, Inc. (REAL): 128%
4. Tapestry, Inc. (TPR): 42%
5. Signet Jewelers Limited (SIG): 30%

### Strongest relative strength versus NIFTY 500
1. Movado Group, Inc. (MOV): 43%
2. Envela Corporation (ELA): 36%
3. Tapestry, Inc. (TPR): 8.7%
4. Signet Jewelers Limited (SIG): 1.0%
5. The RealReal, Inc. (REAL): -2.7%

## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.

## Every company
- Tapestry, Inc. (TPR) — market value ₹30.5K Cr; latest fundamentals Mar 2026
- Signet Jewelers Limited (SIG) — market value ₹3.9K Cr; latest fundamentals Jun 2026
- Capri Holdings Limited (CPRI) — market value ₹1.9K Cr; latest fundamentals Mar 2026
- The RealReal, Inc. (REAL) — market value ₹1.4K Cr; latest fundamentals Mar 2026
- LuxExperience B.V. (LUXE) — market value ₹1.2K Cr; latest fundamentals Mar 2026
- Movado Group, Inc. (MOV) — market value ₹842 Cr; latest fundamentals Jun 2026
- Envela Corporation (ELA) — market value ₹555 Cr; latest fundamentals Mar 2026
- Lanvin Group Holdings Limited (LANV) — market value ₹147 Cr; latest fundamentals Dec 2025
- Brilliant Earth Group, Inc. (BRLT) — market value ₹114 Cr; latest fundamentals Mar 2026

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-07-28.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Which Luxury Goods company is the biggest?

Tapestry, Inc. is the largest, with trailing-twelve-month revenue of $7,851 million, ahead of Signet Jewelers Limited at $6,826 million. That covers 8 of 9 companies with comparable reporting through Mar 2026.

### Which Luxury Goods company is growing fastest?

LuxExperience B.V. has the fastest revenue growth at 100% year on year, across 8 of 9 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

### Which Luxury Goods company has the best profit margins?

Tapestry, Inc. has the highest operating margin at 22.3%, from 8 of 9 comparable companies. The RealReal, Inc. shows the biggest recent improvement, at +6.8 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Luxury Goods company makes the most profit?

Tapestry, Inc. earns the most, at $663 million of trailing-twelve-month net profit, from 8 of 9 comparable companies. Envela Corporation has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Luxury Goods company earns the highest return on capital?

Envela Corporation leads on return on capital employed at 14.6%, across 9 of 9 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Luxury Goods stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Signet Jewelers Limited screens cheapest at 0.04×. Only 3 of 9 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Which Luxury Goods company has the strongest balance sheet?

Envela Corporation carries the lowest comparable gross debt at $20 million, from 8 of 9 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

### Which Luxury Goods company is investing most in new capacity?

Tapestry, Inc. reports the largest capital spending at $37 million, across 9 of 9 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.

### Is the Luxury Goods sector beating the market?

Luxury Goods has outperformed S&P 500 by 32.1% over the last 52 weeks and 0.5% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 4 of 9 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Luxury Goods stock has the strongest price momentum?

Movado Group, Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Luxury Goods company scores highest for research priority?

Envela Corporation scores 79.3 out of 100 with 76% evidence confidence, from 30.3 points on growth and earnings, 18.6 on capital efficiency, 14.5 on valuation and 15.9 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Luxury Goods companies does this comparison cover, and over what period?

It compares 9 listed companies over up to 20 reported quarters of fundamentals and 6 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Luxury Goods sector?

The 9 Luxury Goods companies on this page carry $40,486 million of combined market value. Tapestry, Inc. is the largest at $30,489 million, about 75% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

### What is the Luxury Goods sector's P/E ratio?

The median price-to-earnings ratio across the 9 Luxury Goods companies on this page is 19.5×, measured on the 7 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

### How is the Luxury Goods sector performing?

4 of the 9 covered Luxury Goods companies are beating S&P 500 on Mansfield relative strength. The sector itself is 32.1% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

### How many Luxury Goods stocks are listed in the US?

This comparison covers 9 listed Luxury Goods companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Narrative sector analysis: https://www.sectoralpha.in/sectors/luxury-goods