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The Independent UK

National

Michelle Chapman

Coach parent Tapestry buying Capri, owner of Michael Kors and Versace, in $8.5 billion deal

Tapestry CAPRI Coach Michael Kors Versace Jimmy Choo Capri Holdings Kering Luxury Kate Spade

AP2008

Tapestry, parent company of luxury handbag and accessories retailer Coach, is buying the owner of fashion brands including Michael Kors, Versace and Jimmy Choo, Capri Holdings. The approximately $8.5 billion deal puts Tapestry in a better position to take on its big European fashion rivals.

U.S. fashion houses have been attempting to take on powerhouses in Europe like LVMH and Kering.

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