Capri Holdings, owner of Versace, Jimmy Choo and Michael Kors, in its $8.5 billion sale to Tapestry, owner of Coach, Kate Spade and Stuart Weitzman

On August 10, 2023, Capri Holdings Limited (NYSE: CPRI), a global fashion luxury group consisting of Versace, Jimmy Choo, and Michael Kors, and Tapestry, Inc. (NYSE: TPR), a house of iconic accessories and lifestyle brands consisting of Coach, Kate Spade, and Stuart Weitzman, announced that they have entered into a definitive agreement under which Tapestry will acquire Capri Holdings for $57.00 per share in cash for a total enterprise value of approximately $8.5 billion.  Combined, the two companies generate more than $12 billion in annual revenue.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Capri Holdings.