In a groundbreaking move, Tapestry, Inc. (TPR), known for its iconic brands Coach and Kate Spade, has acquired Capri Holdings Limited (CPRI), the parent company of Versace, Jimmy Choo, and Michael Kors, in an $8.5 billion deal. This merger creates a formidable global luxury powerhouse.
Here’s a look at five lesser-known parent companies that own some of the world’s most prestigious fashion brands:
- Tapestry, Inc. and Capri Holdings Limited
Tapestry, founded in 1941 as Coach Inc., rebranded in 2018. It acquired Stuart Weitzman and Kate Spade over the years. Capri Holdings, established in 1981 by Michael Kors and known as Michael Kors Holdings until 2018, now includes Versace, Jimmy Choo, and Michael Kors. Together, they generated over $12 billion in revenue last year and operate in more than 75 countries. - Kering
Paris-based Kering (PPRUY) is a major player in luxury fashion, with over $21 billion in revenue for 2022. Founded by François Pinault, Kering’s brands include Gucci, Saint Laurent, Bottega Veneta, and Balenciaga. Additionally, Kering Eyewear features luxury eyewear brands like Chloe and Cartier. - LVMH
Moët Hennessy Louis Vuitton, or LVMH (LVMUY), is the world’s largest luxury conglomerate, surpassing $500 billion in market value in April 2023. With a 2022 revenue of $86.5 billion, its extensive portfolio includes Louis Vuitton, Tiffany & Co., Dior, and Fenty Beauty by Rihanna. Founded in 1987, LVMH combines Moët Hennessy and Louis Vuitton, extending its reach into diverse luxury sectors. - Richemont
Swiss-based Richemont (CFRUY) specializes in high-end fashion, jewelry, and watches. With a record $21.8 billion in sales for 2022, Richemont’s notable brands include Cartier, Van Cleef & Arpels, and Piaget. The company is renowned for its luxury and craftsmanship across multiple segments. - Swatch Group
As the world’s largest watchmaker, Swatch Group (SWGAY) dominates the luxury watch and jewelry market. With net sales of $569 million in 2022, its portfolio features high-end brands like Harry Winston, Omega, and Breguet. Swatch Group supplies nearly all parts for its extensive watch collection.
These lesser-known parent companies play a crucial role in shaping the luxury fashion industry, holding the reins to some of the most coveted brands worldwide.
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