After failed Tapestry deal, Capri may sell Versace, Jimmy Choo
According to sources cited by WWD, fashion group Capri Holdings, which owns Versace and Jimmy Choo, is working with Barclays to find buyers for these two brands. After the $8.5 billion acquisition deal between Capri and Tapestry Group (the parent company of Coach) was blocked due to antitrust issues, it is widely believed that Capri is considering moves regarding its Versace and Jimmy Choo brands. Although Tapestry agreed to acquire Capri at $57 per share, Capri’s stock price has significantly declined. Michael Kors remains Capri’s largest business and is in need of transformation; selling other brands would free up time and resources for Capri to focus on this task. Both Capri and Barclays have declined to comment on the rumors.