Coach parent Tapestry to buy Versace and Jimmy Choo owner in $8.5bn deal
by Lauren Aratani from World news | The Guardian on (#6DQMM)
Deal will create a US luxury fashion conglomerate that will rival major competitors in Europe, including LVMH
Tapestry, the parent company of Coach, announced it is purchasing Capri Holdings, owner of Michael Kors and other luxury fashion brands for $8.5bn.
The deal will create an American luxury fashion conglomerate that will rival major competitors in Europe, including fashion behemoth LVMH and Gucci owner Kering.
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