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5 Less-Recognized Parent Companies Behind Prominent Luxury Brands

by Raxer X.
08/13/2023
in Luxury Goods

In a notable development in the luxury fashion industry, Tapestry, Inc. (TPR), the parent company of Coach and Kate Spade, has acquired Capri Holdings Limited (CPRI), which houses Versace, Jimmy Choo, and Michael Kors, in a deal valued at approximately $8.5 billion. John D. Idol, the chairman and CEO of Capri Holdings Limited, expressed confidence that this merger would provide immediate benefits to shareholders in a recent statement.

As these two global luxury fashion houses merge, here are five parent companies that are somewhat less known, but are responsible for some of the most celebrated luxury brands in the world.

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1. Tapestry-Capri:

Tapestry, Inc., headquartered in New York, was initially established as Coach Inc. in 1941 and was publicly listed on the New York Stock Exchange (NYSE) in 2000. In 2018, it rebranded as Tapestry, Inc. after acquiring Stuart Weitzman and Kate Spade.

Capri Holdings Limited, founded by Michael David Kors in 1981 under the name Michael Kors Holdings, also adopted the name Capri Holdings Limited in 2018. The company is based in London.

Together, Tapestry and Capri reported a combined revenue exceeding $12 billion during the last fiscal year, with a global presence spanning more than 75 countries. The brands under their umbrella include Coach, Kate Spade, Stuart Weitzman, Jimmy Choo, Versace, and Michael Kors.

2. Kering:

Based in Paris, Kering (PPRUY) oversees a portfolio of luxury couture, leather, and jewelry brands. In 2022, Kering recorded over $21 billion (20 billion euros) in revenue. The company is publicly traded and owned by French billionaire Francois Pinault, who is also the founder.

Prominent brands within Kering’s purview include Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, and Brioni. Additionally, Kering operates Kering Eyewear, a luxury eyewear company, with a range of eyewear brands like Chloe, Lindberg, Cartier, Bottega Veneta, and Balenciaga.

3. LVMH:

Moet Hennessy Louis Vuitton, commonly known as LVMH (LVMUY), is an expansive luxury conglomerate encompassing over 75 brands across diverse sectors, including wine and spirits, fashion and leather goods, and jewelry. In April 2023, LVMH became the first European company to exceed $500 billion in market value. In 2022, the conglomerate reported revenue of around $86.5 billion (79 billion euros).

LVMH’s chairman and CEO, Bernard Arnault, ranks as the world’s second-richest individual, with an estimated net worth of $195 billion as of August 2023. LVMH boasts a rich history, with some of its brands dating back to the 1700s when the first champagne house, Ruinart, was founded.

Established in 1987 through a merger of Moet Hennessy and Louis Vuitton, LVMH’s brand portfolio includes Louis Vuitton, Tiffany & Co., Givenchy, Marc Jacobs, Bulgari, Dior, Fendi, Celine, Guerlain, Fenty Beauty by Rihanna, Tag Heuer, and more.

4. Richemont:

Based in Switzerland, Richemont (CFRUY) is a luxury goods company known for its collection of high-end fashion, jewelry, and watch brands. In the fiscal year 2022, the company achieved a record high with sales of about $21.8 million (19.95 million euros).

Notable brands owned by Richemont comprise Cartier, Van Cleef & Arpels, Piaget, Chloe, and Net-A-Porter.

5. Swatch Group:

The Swatch Group (SWAGY) specializes in the production and distribution of watches and fine jewelry through a diverse portfolio of luxury brands. As the world’s largest watchmaking company, the Swatch Group supplies the majority of watch components used by the 17 brands in its portfolio. In 2022, the Swiss company reported net sales of $569 million ($499 million Swiss Franc).

Luxury watch and jewelry brands under the Swatch Group’s umbrella include Harry Winston, Omega, Balmain, Rado, and Breguet.

Find the latest supply chain report news at The Supply Chain Report. For international trade tools, see ADAMftd.com.

#LuxuryFashionMerger #TapestryCapriAcquisition #TapestryInc #CapriHoldings #Coach #KateSpade #Versace #JimmyChoo #MichaelKors #LuxuryFashionBrands #GlobalLuxury #Kering #LVMH #Richemont #SwatchGroup #FashionIndustry #LuxuryMarket #FashionMergers #FashionLuxuryBrands #LuxuryRetail #LuxuryConglomerates

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