Tapestry buys Versace, Jimmy Choo, and Michael Kors owner Capri Holdings for $8.5 billion.
Big fashion is getting bigger: Challenging European luxury juggernauts like LVMH and Kering, Tapestry, Inc. (NYSE: TPR), a New York-based house of modern luxury lifestyle brands including Coach, Kate Spade, and Stuart Weitzman, has acquired Capri Holdings Limited (NYSE: CPRI), the parent company of Versace, Jimmy Choo, and Michael Kors,...