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On Monday, fashion icon Michael Kors testified in an antitrust trial in Manhattan as a Federal Trade Commission lawsuit filed in April that seeks to block Tapestry’s $8.5 billion acquisition of ...
The companies agreed to a $8.5 billion deal in August 2023 that would have united Capri, the maker of Versace, Jimmy Choo and Michael Kors shoes, handbags and accessories, with Tapestry, which ...
The deal, if approved, would put six fashion brands under a single company: Tapestry’s Coach, Kate Spade and Stuart Weitzman, with Capri’s Versace, Jimmy Choo and Michael Kors.
The ruling came six months after the FTC sued to block Tapestry's $8.5 billion acquisition of Capri, saying that the deal would eliminate direct competition between the fashion companies’ brands like Coach and Michael Kors in the so-called affordable luxury handbag arena.
Capri Holdings (), the parent company of Michael Kors and Jimmy Choo, saw shares plunge around 47% in early trading on Friday after a US judge blocked its pending $8.5 billion acquisition by Coach ...
A Michael Kors retail store in Rehoboth Beach, Delaware. Capri Holdings Limited (formerly Michael Kors Holdings Limited) is a multinational fashion holding company, incorporated in the British Virgin Islands, [3] with executive offices in London [3] and operational offices in New York. It was founded in 1981 by American designer Michael Kors. [4]
The companies agreed to a $8.5 billion deal in August 2023 that would have united Capri, the maker of Versace, Jimmy Choo and Michael Kors shoes, handbags and accessories, with Tapestry, which produces the same products under the Coach, Kate Spade New York, and Stuart Weitzman brands. But the deal has faced numerous obstacles.
Both Capri's Michael Kors brand and Tapestry's Coach brand, meanwhile, are typically viewed as accessible luxury brands. ... The news sent Capri's stock crashing, as its shares fell more than 45% ...