In a surprising turn of events, it has been announced that the parent company of Coach, Tapestry, will be acquiring Capri Holdings, the parent company of renowned fashion house Versace, in a deal worth a staggering $8.5 billion. Tapestry, as the parent company of Coach, Kate Spade, and Stuart Weitzman, has already established itself as a major player in the affordable luxury segment. With this acquisition, both Tapestry and Capri Holdings aim to redefine the luxury sector and meet the evolving demands of customers. Implications for the Fashion LandscapeThe acquisition of Capri Holdings by Tapestry has far-reaching implications for the fashion landscape. ConclusionThe recent announcement of Tapestry acquiring Capri Holdings, the parent company of Versace, emphasizes the growing influence of big fashion players in the industry.

Source: ABC News August 11, 2023 11:49 UTC