Tapestry, owned by Coach, Kate Spade and Stuart Weitzman, bought Capri Holdings for $8.5 billion. writes about it Reuters.
As a result of the transaction, Capri Holdings brands Michael Kors, Jimmy Choo and Versace got their new owners.
Capri CEO John Idol said the deal will increase resources and capabilities “to accelerate the expansion of the company’s global footprint”.
“Weakened Demand [на предметы роскоши] oppressing the now-converted Tapestry and Capri [большее] focusing on international markets to support growth. “As a larger organization, you can feel more confident to embark on bold international plans,” said Neil Saunders, Managing Director of GlobalData.
In 2017, Tapestry acquired handbag maker Kate Spade for $2.4 billion. That same year, Capri bought British shoe manufacturer Jimmy Choo for $1.2 billion. A year later, Capri bought Versace for 2.2 billion.
Previously reportedthat the world’s best supermodels pose for Victoria’s Secret commercials.