Coach owner to buy Michael Kors parent company in €7.8bn deal

  • 📰 businessposthq
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 71%

Colombia Noticias Noticias

Colombia Últimas Noticias,Colombia Titulares

The combined businesses will be the fourth-largest luxury company in the world with a market share of around 5.1 per cent

Tapestry, the owner of brands including Coach and Kate Spade, agreed to acquire Michael Kors’ parent Capri Holdings in an $8.5 billion deal that shows the wave of consolidation in the luxury-goods sector is far from finished.

New York-based Tapestry is paying $57 a share in cash, according to a statement Thursday, a 65 per cent premium over Capri’s last closing price. The $8.5 billion enterprise value includes $1.7 billion in net debt. The transaction is expected to close in 2024, subject to approval by regulators and Capri shareholders.

, according to GlobalData analyst Neil Saunders. In the Americas, it will be the second-largest player behind LVMH, he added. By adding Versace to its brands, the acquisition gives Tapestry its first direct access to a European luxury marque. Capri bought Versace in 2018 and has focused on increasing the brand’s sale of handbags and other accessories, successfully boosting revenue.

Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

 /  🏆 8. in CO
 

Gracias por tu comentario. Tu comentario será publicado después de ser revisado.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Coach owner to buy Michael Kors parent company in €7.8bn dealThe combined businesses will be the fourth-largest luxury company in the world with a market share of around 5.1 per cent
Fuente: businessposthq - 🏆 8. / 71 Leer más »