Tapestry and Capri Announce a Luxury Mega Merger
Tapestry, the fashion company that owns Coach and Kate Spade, said on Thursday it had acquired Capri Holdings, the parent of Versace and Michael Kors, for about $8.5 billion in cash, as consolidation in the luxury market gathers pace. The deal between two large American companies with familiar luxury brands comes as high-end retailers look…