Capri Holdings sales continued to dip for fiscal 2024, the company reported Wednesday. Reporting its fourth-quarter and full-year fiscal 2024 results, Capri saw total revenue drop about 7.6 percent to $5.17 billion from $5.6 billion for fiscal-year 2023. Declines ran across brands, with Michael Kors generating $3.5 billion in sales compared to $3.88 billion for … Read more
The Federal Trade Commission’s effort to stop Tapestry’s Inc. $8.5 billion acquisition of Capri Holdings is going to define exactly what an “accessible luxury” handbag is — but not yet. Judge Jennifer Rochon, who’s overseeing the case in Manhattan federal court, nixed Tapestry’s request to force the government to disclose its definition of the market … Read more
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
As major college campuses are increasingly becoming epicenters for protests about the war in Gaza, a smaller institution — the Fashion Institute of Technology — became embroiled in the issue Thursday afternoon. An estimated crowd of 150 pro-Palestine demonstrators poured into FIT‘s Goodman Center Thursday afternoon — some running past security guards and school officials, … 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
The Federal Trade Commission said Monday it was suing to block Coach parent Tapestry’s $8.5 billion deal to buy Michael Kors owner Capri, saying it would eliminate competition. This comes at a time when several US lawmakers have sought increased scrutiny from the FTC of several multi-billion dollar deals that might risk higher prices and affect consumers. US … 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
Michael Kors has unveiled its Mother’s Day campaign featuring model Grace Elizabeth and her growing family. Shot by Cass Bird and styled by Alex Harrington, the campaign was shot in a studio in New York at the end of January, featuring the then-pregnant model and her husband, Nicolas Krause, and their three-year-old son, Noah. The … Read more
Michael Kors was greeted with rousing applause from a crowd of 850 people Monday at Graham Chapel at Washington University in St. Louis. His Q&A with Derek Blasberg, a St. Louis-born journalist, was part of the “Speaking of Fashion” series that is presented by the St. Louis Fashion Fund in partnership with Washington University in St. … Read more
