TAPESTRY acquires CAPRI HOLDINGS Group
Both companies have agreed to the transaction, estimated at around US$ 8.5 billion. In this context, TAPESTRY's portfolio, which includes brands like Kate Spade, Coach, and Stuart Weitzman, will now include the luxury brands of CAPRI HOLDINGS -Michael Kors, Jimmy Choo, and Versace-.
This merger will lead to increased diversification and geographical reach due to their positions in Europe and Asia, diverse consumer bases, and product types, as reported by TAPESTRY.
Together, both companies operate in more than 75 countries, with a combined annual sales volume exceeding US$ 12 billion and around US$ 2 billion in profits in the previous fiscal period.