In a seismic shift for the U.S. luxury market, Tapestry Inc. has terminated its ambitious $8.5 billion acquisition of Capri Holdings, a bid that would have united six iconic brands under a single American luxury conglomerate. The announcement comes on the heels of a significant regulatory roadblock imposed by the U.S. Federal Trade Commission (FTC), […]
In a significant setback for Capri Holdings, the company’s stock nosedived by 50% after a U.S. federal judge blocked its $8.5 billion merger with Tapestry. The decision has triggered widespread concerns among investors and market watchers, questioning the future trajectory of both luxury fashion giants. The Federal Trade Commission (FTC) had previously argued that the […]
Tapestry, Inc. (NYSE: TPR) and Capri Holdings Limited (NYSE: CPRI) have entered into a definitive agreement, under which Tapestry will purchase Capri Holdings for an enterprise value of $8.5 billion. This monumental deal values Capri Holdings shares at $57 each, fully in cash. A Union of Iconic Fashion Brands This acquisition combines six globally renowned […]
Michael Kors acquisition of Versace : US-based luxury apparel retailer Michael Kors has renamed itself as Capri Holdings following the completion of a previously announced acquisition of Italian luxury fashion company Gianni Versace for $2.12 billion, as per the latest retail acquisition news. Starting from 2 January 2019, the luxury apparel retailer will trade on […]