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Tapestry announced it would acquire Capri Holdings in August 2023 for $8.5 billion. [10] Capri owns the brands Versace, Michael Kors, and Jimmy Choo. [11] The U.S. Federal Trade Commission sued to block the acquisition in April 2024 citing reduced competition between their brands, like Coach and Michael Kors, in the affordable luxury handbag ...
Tapestry, Inc. agreed to acquire Capri for $8.5 billion in August 2023. In April 2024, the U.S. Federal Trade Commission sued to block the acquisition citing reduced competition between their brands, like Coach and Michael Kors, in the affordable luxury handbag market. It was also concerned that the deal would negatively impact hiring of ...
On October 10, 2017, Victor Luis (CEO) announced that on October 31, Coach Inc would be renamed and rebranded as Tapestry Inc. The company's ticker symbol on the NYSE changed from COH to TPR effective October 31, 2017. [26] As of 2019, Coach dropped the use of fur from its collection. [27]
Tapestry owns Coach, Kate Spade, and Stuart Weitzman, while Capri owns Michael Kors, Versace and Jimmy Choo. The hope was to create an American mini-version of French luxury conglomerate LVMH ...
Tapestry shocked Wall Street on Thursday by announcing it will spend $8.5 billion — or $57 a share — to buy rival Capri Holdings for a total enterprise value of $8.5 billion. The transaction ...
Tapestry, Inc. (NYSE:TPR) shares are trading higher premarket on Thursday after the company disclosed that it has reached an agreement with Capri Holdings Limited (NYSE:CPRI) to terminate their ...
Tapestry, Inc. purchased Kate Spade & Company in July 2017 for $2.4 billion. [16] In June 2018, following the death of Kate Spade by suicide, [17] Tapestry, Inc. announced a plan to donate $1 million towards mental health awareness, starting with a $250,000 donation to Crisis Text Line. [18] [19] [20]
With Tapestry's $8.5 billion merger with luxury retail peer Capri called off, CIO Yang Lu can dedicate her focus on innovative technologies, like artificial intelligence.