• Latest
Tapestry to Acquire Michael Kors, Versace, and Jimmy Choo in a $8.5 Billion Deal

Tapestry to Acquire Michael Kors, Versace, and Jimmy Choo in a $8.5 Billion Deal

August 11, 2023
Ai Weiwei Creates Exclusive Cover for DSCENE’s Defiance Issue

Ai Weiwei Creates Exclusive Cover for DSCENE’s Defiance Issue

June 14, 2025
Chris Cruse

DJ Chris Cruse on Pride, Protest, and the Politics of the Dance Floor

June 13, 2025
Wizard of Oz

Follow the Yellow Brick Road: Queer Legacy of The Wizard of Oz

June 13, 2025
Nike Air Max DN8

Better Gift Shop Reimagines the Nike Air Max DN8 in Wolf Grey

June 13, 2025
JOOPITER Releases SEVENTEEN Necklaces Designed by YOON

JOOPITER Releases SEVENTEEN Necklaces Designed by YOON

June 13, 2025
Project Runway Returns for Season 21 with New Designers

Project Runway Returns for Season 21 with New Designers

June 13, 2025
Balmain Reframes the Archive for Resort 2026

Balmain Reframes the Archive for Resort 2026

June 13, 2025
Louis Vuitton Joins Real Madrid With Exclusive Formal and Travel Collections

Louis Vuitton Joins Real Madrid With Exclusive Formal and Travel Collections

June 13, 2025
SKIMS Summer of Love Brings Romantic Staples

SKIMS Summer of Love Brings Romantic Staples

June 13, 2025
DSCENE STYLE

The Social Media Impact on What Teens Wear to Homecoming

June 13, 2025
Rabanne Resort 2026 Turns Vintage References Into New Statements

Rabanne Resort 2026 Turns Vintage References Into New Statements

June 12, 2025
PUMA Debuts Mostro Jelly in Two Colorways for Summer

PUMA Debuts Mostro Jelly in Two Colorways for Summer

June 12, 2025
DSCENE
  • LATEST
  • FASHION
    • Ad Campaigns
    • Collections
      • Fall Winter 2025.26 Womenswear
      • Fall Winter 2025.26 Menswear
      • Pre-Fall 2025 Collections
      • Spring Summer 2025 Womenswear
      • Spring Summer 2025 Menswear
      • Fall Winter 2024.25 Womenswear
      • Fall Winter 2024.25 Menswear
      • Couture Collections
      • Bridal Collections
      • Capsule Collections
    • Jewelry
    • Lookbooks
    • Street Style
    • Backstage
    • Directory
      • Agencies
        • Creative Talent Agencies
        • Modelling Agencies
      • Brands
      • Photographers
      • Fashion Stylists
      • Hair Stylists
      • Makeup Artists
      • Female Models
      • Male Models
  • SNEAKERS
  • MAGAZINES
    • DSCENE Magazine
    • MMSCENE Magazine
    • EDITORIALS
  • EXCLUSIVE
    • Interviews
    • Exclusive
  • TRAVEL
    • Hotels
    • Restaurants
  • ART
    • Art
    • Design
      • Furniture
    • Architecture
      • Interior Design
  • SHOP
    • ABOUT
No Result
View All Result
DSCENE
  • LATEST
  • FASHION
    • Ad Campaigns
    • Collections
      • Fall Winter 2025.26 Womenswear
      • Fall Winter 2025.26 Menswear
      • Pre-Fall 2025 Collections
      • Spring Summer 2025 Womenswear
      • Spring Summer 2025 Menswear
      • Fall Winter 2024.25 Womenswear
      • Fall Winter 2024.25 Menswear
      • Couture Collections
      • Bridal Collections
      • Capsule Collections
    • Jewelry
    • Lookbooks
    • Street Style
    • Backstage
    • Directory
      • Agencies
        • Creative Talent Agencies
        • Modelling Agencies
      • Brands
      • Photographers
      • Fashion Stylists
      • Hair Stylists
      • Makeup Artists
      • Female Models
      • Male Models
  • SNEAKERS
  • MAGAZINES
    • DSCENE Magazine
    • MMSCENE Magazine
    • EDITORIALS
  • EXCLUSIVE
    • Interviews
    • Exclusive
  • TRAVEL
    • Hotels
    • Restaurants
  • ART
    • Art
    • Design
      • Furniture
    • Architecture
      • Interior Design
  • SHOP
    • ABOUT
No Result
View All Result
DSCENE
No Result
View All Result

Tapestry to Acquire Michael Kors, Versace, and Jimmy Choo in a $8.5 Billion Deal

Deal aims to bolster Tapestry's position against European rivals, adding renowned brands to portfolio already housing Coach, Kate Spade, and Stuart Weitzman.

August 11, 2023
in Coach 1941, Jimmy Choo, Michael Kors, News, Stuart Weitzman, Versace
0
Share on FacebookShare on Twitter
Photography Kevin Khoo, Shutterstock

Tapestry, the parent company of Coach, is set to acquire Capri Holdings, the owner of Michael Kors, in an $8.5 billion transaction, to strengthen its standing against the top European luxury fashion brands.

This acquisition will significantly enhance the New York-based Tapestry’s range, integrating Capri’s renowned brands Michael Kors, Versace, and Jimmy Choo with its existing line-up of Coach, Kate Spade, and Stuart Weitzman.

The newly merged fashion entity will still be considerably smaller than its European competitors. In the previous year, the combined revenue of the two companies amounted to $12 billion. In contrast, LVMH, the proprietor of 75 brands such as Louis Vuitton and Dior, generated $87 billion in revenues, while Kering, the owner of brands like Gucci and Balenciaga, raked in $23 billion in revenue, according to The Guardian.

“The combination of Coach, Kate Spade, and Stuart Weitzman together with Versace, Jimmy Choo, and Michael Kors creates a new powerful global luxury house, unlocking a unique opportunity to drive enhanced value for our consumers, employees, communities, and shareholders around the world.” – said Joanne Crevoiserat, CEO of Tapestry.

American fashion companies have traditionally struggled to keep pace with their European counterparts such as LVMH and Kering, recognized for their substantial scale benefits in various domains including retail, marketing, talent acquisition, and continuous growth of their brand collections. Just recently, Kering announced purchasing 30% of Valentino, while in 2021, LVMH made a headline with its $16 billion Tiffany takeover.

“By joining with Tapestry, we will have greater resources and capabilities to accelerate the expansion of our global reach while preserving the unique DNA of our brands.” – said John D. Idol, the CEO of Capri Holdings.

Efforts to expand have been noticeable among U.S. fashion conglomerates. Tapestry, once known as Coach Inc, acquired Kate Spade in 2017 for $2.4 billion. In the same year, Capri, then operating under the Michael Kors name, bought Jimmy Choo for $1.2 billion, followed by a $2.2 billion Versace purchase the next year.

Nevertheless, the U.S. fashion giants are still modest in comparison to their European competitors. Tapestry’s market capitalization stands at around $10 billion, and Capri’s at approximately $4 billion. In stark contrast, Kering’s value is about $72 billion, with industry leader LVMH towering at an impressive market cap of $456 billion.

Tags: Fashion News
admin

admin

Related Posts

Louis Vuitton Joins Real Madrid With Exclusive Formal and Travel Collections
Louis Vuitton

Louis Vuitton Joins Real Madrid With Exclusive Formal and Travel Collections

June 13, 2025
Jeremy Allen White Named Louis Vuitton House Ambassador
Louis Vuitton

Jeremy Allen White Named Louis Vuitton House Ambassador

June 10, 2025
Tommy Hilfiger Partners with Cadillac Formula 1 Team Ahead of 2026 Debut
Cars

Tommy Hilfiger Partners with Cadillac Formula 1 Team Ahead of 2026 Debut

June 5, 2025
Sander Lak Will Debut New Label Sanderlak During Paris Fashion Week
Fashion

Sander Lak Will Debut New Label Sanderlak During Paris Fashion Week

June 3, 2025

dscene

Subscribe To Our Newsletter

DSCENE

DSCENE is curated as a daily art, design, fashion & lifestyle destination. DSCENE is non-for-profit fashion and culture basis organization which aims at further development of research on DSCENE values, as well as on providing educational services. Home of magazine editions DSCENE and MMSCENE – Click for more about DSCENE and for our Terms of Service.

Subscribe Our Newsletter

© 2024 DSCENE Publishing. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • LATEST
  • FASHION
    • Ad Campaigns
    • Collections
      • Fall Winter 2025.26 Womenswear
      • Fall Winter 2025.26 Menswear
      • Pre-Fall 2025 Collections
      • Spring Summer 2025 Womenswear
      • Spring Summer 2025 Menswear
      • Fall Winter 2024.25 Womenswear
      • Fall Winter 2024.25 Menswear
      • Couture Collections
      • Bridal Collections
      • Capsule Collections
    • Jewelry
    • Lookbooks
    • Street Style
    • Backstage
    • Directory
      • Agencies
      • Brands
      • Photographers
      • Fashion Stylists
      • Hair Stylists
      • Makeup Artists
      • Female Models
      • Male Models
  • SNEAKERS
  • MAGAZINES
    • DSCENE Magazine
    • MMSCENE Magazine
    • EDITORIALS
  • EXCLUSIVE
    • Interviews
    • Exclusive
  • TRAVEL
    • Hotels
    • Restaurants
  • ART
    • Art
    • Design
      • Furniture
    • Architecture
      • Interior Design
  • SHOP
    • ABOUT
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.