DONATELLA’S NEXT STEP?: Could another major designer change shake up the luxury fashion industry in 2025? As reported, Capri Holdings is said to be working with Barclays to sell Versace and Jimmy Choo as it focuses on the Michael Kors turnaround, stirring yet more speculation in and around Milan. Sources say the contract of Donatella … Read more
Bankers and would-be buyers are buzzing about what comes next for Versace and Jimmy Choo — and where they land next year. Financial sources told WWD that Capri Holdings, which owns both brands, is working with Barclays to try to find buyers for the businesses. Neither Capri nor Barclays responded to requests for comment Friday. … Read more
Capri Holdings is still looking to find its footing. The company’s second-quarter net income fell 73 percent to $24 million, or 20 cents a share, from $90 million, or 77 cents a year earlier. Adjusted earnings were better at 65 cents a share, but still 10 cents below the 75 cents analysts projected. “Overall, we … Read more
This isn’t the way either Tapestry Inc. or Capri Holdings expected their $8.5 billion engagement to end. But now that the breakup has come — after a preliminary and all-but-final injunction from a Manhattan federal judge — experts said Tapestry is able to move on, keep building on its successful Coach business, and maybe even … Read more
The Federal Trade Commission succeeded in its effort to hit pause on Tapestry Inc.’s $8.5 billion acquisition of Capri Holdings with a preliminary injunction — likely sinking the mega acquisition. The reaction was immediate and sharp. Shares of Capri dropped 47.1 percent to $22 in after-hours trading — a world away from the $57 buyout … Read more
The future of Tapestry’s Inc. $8.5 billion deal to buy Capri Holdings now rests in the hands of federal Judge Jennifer Rochon — and after closing arguments on Monday afternoon, investors are feeling more bullish. Shares of Capri closed up 7.5 percent to $42.43 having gained momentum as the hearing progressed and Rochon narrowed in … Read more
Fashion has always reveled in its knock-down, drag-out legal brawls. Whether it’s a courtroom square off or a nasty back and forth in the press, the drama speaks to the competitive nature of the business, the branded turf companies are looking to protect and the big-time dollars and market share at stake. Most fashion lawsuits … Read more
“I feel it’s fashion’s responsibility to do a little bit to bring people’s spirits up,” Donatella Versace said during the group preview of her spring 2025 collection about channeling the power of positivity into her clothes. She certainly brought the fashion crowd to a beautiful location — the 15th-century Castello Sforzesco, its tower and turrets … Read more
Michael Kors might be the star brand in Tapestry Inc.’s $8.5 billion deal to buy Capri Holdings — but its light has clearly dimmed. While Tapestry, which already owns Coach and Kate Spade, is waiting to put its turnaround skills to work at Michael Kors, a hearing over whether the mega deal will be allowed … Read more
The Federal Trade Commission sued to stop Tapestry Inc.’s $8.5 billion deal to buy Capri Holdings, in large part on the grounds that putting Coach, Kate Spade and Michael Kors all under one roof would be bad for American consumers. On Wednesday, the federal court hearing for a preliminary injunction that’s expected to determine whether … Read more
