In pushing to stop Tapestry Inc.’s $8.5 billion takeover of Capri Holdings, the Federal Trade Commission is arguing that, if combined, Coach, Kate Spade and Michael Kors would hold too much sway over the “‘accessible luxury’ handbag market.” It’s a case that promises to, eventually, define “accessible luxury” — a marketing term coined by Coach … Read more
A BIGGER SPLASH: With higher than usual rainfall this winter, most Parisians by now are sick of getting soaked. But Michael Kors is hoping the shimmering turquoise waters of a swimming pool will put visitors to its pop-up in the mood for a vacation – preferably with its new Colby bag in tow. From Friday … Read more
Fashion has entered a new dealmaking phase. While antitrust regulators have always been a kind of distant concern as two big companies sought to combine, there were rarely any serious worries that Washington would step in and try to block a buyout. But after years of consolidation in fashion, that has now changed with the … Read more
After a four-year hiatus, Michael Kors has returned to Rodeo Drive in Beverly Hills. On Thursday, the brand opened its doors at Two Rodeo Drive, the winding cobblestone street that looks like a narrow thoroughfare airlifted from Europe. Retail neighbors there include Tiffany & Co., Jimmy Choo, Versace and Brunello Cucinelli. The 1,500-square-foot Michael Kors … Read more
Tapestry Inc. took two big steps toward closing on its $8.5 billion acquisition Capri Holdings, with antitrust regulators in both Japan and the European Union signing off on the deal. That leaves the U.S. Federal Trade Commission as the last antitrust regulator looking at the buyout, which would bring together Tapestry’s Coach, Kate Spade and … Read more
There are a lot of questions surrounding Tapestry Inc.’s acquisition of Capri Holdings. Will Tapestry sell off Capri’s Versace and Jimmy Choo brands to fund the deal? Will the turnaround chops Tapestry displayed at Coach work for Michael Kors? Will the arrival of a much larger group reset the competitive dynamic in American fashion? But … Read more
Capri Holdings chairman and chief executive officer John Idol on Wednesday firmly denied a WWD report that a search for a successor to Michael Kors is being considered. In a statement, Idol said, “Michael Kors is and will remain the chief creative officer of his namesake company. His vision is essential to our success. Any … Read more
Is the fashion industry finally coming to grips with planned, unhurried succession strategies for its famous creative leaders? WWD broke the news on Tuesday that Dries Van Noten is stepping down in June after nearly four decades in fashion — and a glorious, slow-building fashion career. His last show in his current role will be … Read more
Michael Michael Kors has hit the refresh button. As the second brand celebrates its 20th anniversary, the company has introduced both an elevated product offering and new creative direction for its spring ad campaign. Ads were photographed by Mert Alas under the creation direction of Trey Laird and were styled by Alex Harrington. Shot in … Read more
The megadeal to bring together Tapestry Inc. and Capri Holdings and build a $12 billion giant should come into focus just a little more this week. While it’s still not clear exactly when the transaction will close, both the acquirer (Tapestry) and the acquiree (Capri) will report quarterly results on Thursday. Before Joanne Crevoiserat, chief … Read more
