Luxury designer Tapestry (TPR), the parent company of Coach and Kate Spade, is set to acquire Capri Holdings (CPRI), owner of Versace and Michael Kors, in an $8.5 billion deal.
Simeon Siegel, BMO Capital Markets Retail & Services Analyst, joins Yahoo Finance Live to break down the deal, which is expected to close in 2024, and Tapestry's attempt to create a "U.S. version of the European powerhouse brands."
Siegel examines the state of luxury consumer brands and what to expect from these companies during earnings season.
