Coach parent company Tapestry Inc. (NYSE: TPR) said it will acquire Capri Holdings Limited (NYSE: CPRI), a global fashion luxury group consisting of Versace, Jimmy Choo, and Michael Kors, for approximately $8.5 billion, creating what Tapestry CEO Joanne Crevoiserat called "a new powerful global luxury house.”
Tapestry’s other brands include Kate Spade and Stuart Weitzman. The six brands combined generate global annual sales of more than $12 billion, have a presence in more than 75 countries…
