20 September 2023
Under the Radar: Tapestry APAC’s President and Coach China’s CEO Yann Bozec on the integration of Michael Kors; making Tapestry an American fashion powerhouse against European rivals
It has been slightly more than six months since our interview with Tapestry, or the fashion group behind Coach, Kate Spade and Stuart Weitzman.
A lot has happened since then. Perhaps the most important development of all is Tapestry’s US$8.5 billion acquisition of its competitor Capri Holdings in August.
Capri, as we know, owns the brands Versace, Jimmy Choo and Michael Kors.
Tapestry says the acquisition brings together six highly complementary brands with global reach, powered by Tapestry’s data-rich customer engagement platform, and diversified, direct-to-consumer operating model.
Just to give you a sense of how big the combined company is – it generated global annual sales in excess of US$12 billion with a presence in over 75 countries and achieved nearly $2 billion in adjusted operating profit in the prior fiscal year.
But what are the financial reasons behind acquiring Capri? What will the mega fashion merger look like operationally?
And how will the creation of a US fashion powerhouse position Tapestry against larger European rivals such as LVMH?
On Under the Radar, Drive Time’s finance presenter Chua Tian Tian sat down with  Yann Bozec, President, Tapestry Asia Pacific; Chief Executive Officer & President, Coach China for more.

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