Fashion's shopping spree!! Tapestry acquired Capri Holdings in a $8.5 billion deal.

It seems like fashion brands and its parent companies have gone on a shopping spree recently. From Kering acquiring Creed and Valentino to Advent International acquiring a majority stake in Zimmermann. Now, Coach owner Tapestry acquired Michael Kors, Versace and Jimmy Choo's owner in a $8.5 billion deal to form a US accessible luxury fashion Empire to compete with European luxury fashion conglomerates which include LVMH, kering, and Richemont. Tapestry's acquisiton is one of the biggest fashion acquistions in the recent times since LVMH acquired Tiffany for $16 billion in 2021.

Source - Official Capri Holdings website