Tapestry plans on expanding its brand portfolio with the acquisition of Capri Holdings Limited in a deal worth $8.5bn. Credit: Shutterstock.
Tapestry to acquire rival luxury group Capri Holdings in $8.5bn deal
Luxury fashion parent company of Coach and Kate Spade, Tapestry, Inc., is set to expand its brand portfolio with the acquisition of rival global fashion luxury group Capri Holdings Limited, which owns Versace and Jimmy Choo amongst others, in a deal valued at $8.5bn. As part of the deal, Tapestry says it will be uniting six “distinctive brands” and expanding its portfolio reach across consumer segments, geographies and product categories.
Baozun acquires majority stake in British footwear brand Hunter
Gap China's owner Baozun has acquired a majority stake in British footwear brand Hunter for Greater China and Southeast Asia. Baozun, the Chinese brand e-commerce service, recently entered a partnership with Authentic Brands Group (Authentic), the company behind Reebok and Ted Baker brands, to acquire a 51% equity interest in Hunter's intellectual property in Greater China and Southeast Asia.
Kering Group invests 30% stake in Italian luxury brand Valentino
Kering Group has entered into a binding agreement with investment entity Mayhoola following its 30% shareholding of Italian luxury fashion house Valentino, which amounts to a cash consideration of €1.70bn ($1.87bn). As part of the deal, Kering will become a significant shareholder with board representation. While Mayhoola will remain the majority shareholder with 70% of the share capital and will continue to execute its successful brand elevation strategy.
Yours clothing owner acquires plus-size brand Evans
British fashion retail group, AK Retail Holdings has acquired plus-size clothing brand, Evans Clothing for £8m ($10m). Evans, a former Arcadia Group brand that was acquired by global omnichannel retailer City Chic Collective Limited in 2020, will hand over its brand name, intellectual property and customer base to Peterborough-based AK Retail Holdings.