Clothing in all its threads, colors and fabrics, a universe all its own that sets style, micro cultures and social attitudes. Keep in mind, West Coast Midnight Run™ heavily covers this beat in its art book editions (50 to 100 pages per volume dedicated to fashion designers collections) and in its Stories and Blog section. You might want to surf our content before starting your thread on The Forums. Express your style and views!
- This topic is empty.
-
-
Coach and Versace Under
One Roof in Tapestry by Pierre MaertinThe newest dance on the Fashion Floor is now between a group of fashion labels (previously independent companies) that have changed their name from Coach Inc. to Tapestry Inc. sometimes in 2017 and includes two highly notable fashion names, Coach NY and Kate Spade New York. The group just recently firmed up its intention to acquire Capri Holdings which is the corporate name behind fabled haute couture powerhouse Versace, as well as Jimmy Choo and Michael Kors, the multinational fashion brand named after its founder, Michael Kors, who is equally the founder of Capri Holdings. Current annual sales of Capri are around $5.6 billion USD with 15,000 employees.
Tapestry is roughly the same size at $6.7 billion USD and 18,000 employees. No word yet if famed founder Donatella Versace will remain onboard the Versace unit after the acquisition, however the departure of previous CEO, Jide Zeitlin, who grew the Coach group under his leadership as Chairman
from 2016 to 2020. Zeitlin resigned under lurid accusations of personal misconduct, having allegedly misled a woman into a romantic relationship while pretending to be a photographer. The inappropriate romantic events supposedly took place sometimes around 2010, four years after Mr. Zeitlin was elected as a board member of Coach and before being appointed as Chair of the directors. Mr. Zeitlin, who is Nigerian-born, was one of only four black CEOs in the Fortune 500 category.
The new leadership at Tapestry Inc. is presently under CEO Joanne Crevoiserat and new Chair Anne Gates. The big question is how will the haute couture Versace fare under the same roof as Coach who is a direct competitor to big luxury names in fashion accessories such as Gucci and Prada. All three, Versace, Gucci and Prada, are considered global top-tier Italian luxury fashion houses, while Coach, Kate Spade and Michael Kors are American fashion houses.
All contents © 2024 for West Coast Midnight Run™. All rights reserved.
-
- You must be logged in to reply to this topic.