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Tapestry Is Acquiring Michael Kors, Versace and Jimmy Choo in $8.5 Billion Deal

The parent company of Coach is taking control of the brands, owned by Capri Holdings, to add heft to its portfolio and better compete with Europe’s luxury heavyweights.
Michael Kors Autumn/Winter 2023.
Coach parent Tapestry is acquiring Michael Kors and Versace owner Capri. (Spotlight/Launchmetrics.com)

Coach parent Tapestry is buying Michael Kors owner Capri Holdings in an $8.5 billion deal to better compete with Europe’s luxury fashion giants.

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Further Reading

How ‘Big Luxury’ Stays on Top

Whether or not a deal goes through, LVMH’s $14.5 billion Tiffany takeover bid is another sign that the giants that dominate the luxury sector are becoming more powerful. Why is this happening? What risks do they face? And what can smaller players do to compete?

Game On: Michael Kors Acquires Versace for $2.1 Billion

In the race to build America's first-ever luxury conglomerate, Michael Kors Holdings, now renamed Capri Holdings, has acquired the world-famous Italian fashion house. But does it have what it takes to turn Versace's price tag into profit?

About the author
Vikram Alexei Kansara
Vikram Alexei Kansara

Vikram Alexei Kansara is Editorial Director at The Business of Fashion. He is based in London and oversees BoF’s luxury, fashion week, art, sustainability, global markets and opinion verticals.

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