{"id":124273,"date":"2023-10-30T18:04:19","date_gmt":"2023-10-30T17:04:19","guid":{"rendered":"https:\/\/luxus-plus.com\/capri-holdings-shareholders-approve-merger-with-tapestry\/"},"modified":"2023-10-31T09:16:03","modified_gmt":"2023-10-31T08:16:03","slug":"capri-holdings-shareholders-approve-merger-with-tapestry","status":"publish","type":"post","link":"https:\/\/luxus-plus.com\/en\/capri-holdings-shareholders-approve-merger-with-tapestry\/","title":{"rendered":"Capri Holdings: shareholders approve merger with Tapestry"},"content":{"rendered":"

Capri Holdings, the parent company of Michael Kors, has confirmed its acceptance of Tapestry’s takeover offer. This decision will create the world’s fourth-largest luxury goods group by 2024, and the largest in North America.<\/h4>\n

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On Wednesday October 25, the shareholders of US luxury goods group Capri Holdings voted in favor of the merger with fellow American group Tapestry. This confirms the announcement made this summer.<\/p>\n

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The merger will create an American luxury group valued at $8.5 billion, the first of its kind.<\/p>\n

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A future luxury group<\/h2>\n

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The United States may be home to the preppy Ralph Lauren, jeweller Tiffany, leather goods maker Coach and jeans maker Levis, but until now it has had no such player.<\/p>\n

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Until now, the legitimacy of luxury made in the USA has been undermined by a history considered too recent<\/strong>. But since Lvmh’s exceptional 2021 takeover of Tiffany<\/strong> – the oldest American luxury house, founded in 1837 – it seems that the American-Italian players are getting organized to protect their nuggets.<\/strong><\/p>\n

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After announcing their intention to build the first American luxury group<\/strong> in the middle of August, Capri Holdings shareholders<\/strong> last week approved the idea of a merger with Tapestry.<\/strong><\/p>\n

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Tapestry<\/strong> – formerly Coach Group – owns leather goods manufacturers Coach and Kate Spade<\/strong>, as well as shoe manufacturer Stuart Weitzman.<\/strong><\/p>\n

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Unlike Capri Holdings, Tapestry owns a landmark of American luxury: New York leather goods manufacturer Coach, founded in 1941<\/strong>. Capri Holdings’ Michael Kors, on the other hand, dates back to 1981.<\/p>\n\n<\/p>\n

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