Tapestry to acquire Capri for $8.5bn.

Tapestry, an American multinational luxury fashion holding company, agreed to acquire Capri, a global fashion luxury group consisting of Versace, Jimmy Choo, and Michael Kors, for $8.5bn. “We are excited to announce the acquisition of Capri Holdings – uniting six iconic brands and exceptional global teams. Tapestry is an organization with a passion for building enduring brands through superior design and craftsmanship and an unwavering focus on our customers. Importantly, we’ve created a dynamic, data-driven consumer engagement platform that has fueled our success, fostering innovation, agility, and strong financial results,” Joanne Crevoiserat, Tapestry CEO.