Tapestry acquires Capri Holdings in a $8.5B merger that will rival LVMH, increase presence in China ...Middle East

What Happened: Luxury industry insiders were abuzz as Tapestry, the parent company of Coach and Kate Spade, announced its acquisition of Capri Holdings, the umbrella group for Versace and Michael Kors, in a deal worth approximately $8.5 billion on Thursday. This high-stakes merger is positioned as a direct challenge to European luxury conglomerates LVMH and Kering, which have long dominated the luxury market. The move comes at a time when luxury retailers, especially in the US, are grappling with changing consumer behaviors and a potential pullback in discretionary spending. Many brands are turning their focus to Chinese consumers, in hopes that the nation’s reopening will see continued pos

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Tapestry acquires Capri Holdings in a $8.5B merger that will rival LVMH, increase presence in China ...Middle East

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