Tapestry To Acquire Versace, Jimmy Choo and Michael Kors in $8.5 Billion USD Deal

Tapestry Inc. will officially acquire Capri Holdings in a deal valued at approximately $8.5 billion USD, according to Business of Fashion. The acquisition will unite Tapestry's Coach, Kate Spade and Stuart Weitzman with Capri's Versace, Jimmy Choo and Michael Kors under one roof, forming an American fashion group worth $12 billion USD.The sale, which closed after years of deal-making between the two companies, marks a large step in America's bid to build a powerhouse parent company like Europe's...