Tapestry Buys Capri For $8.5 Billion, Mourning Two Fashion Industry Greats

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Tapestry has purchased Capri Holdings for $8.5 billion in cash

Say hello to the new luxury behemoth on the block. Tapestry, which owns Coach, Stuart Weitzman, and Kate Spade, has acquired Capri Holdings, the parent company of Michael Kors, Versace, and Jimmy Choo. Tapestry had paid $8.5 billion cash for the latter in what’s set to be the first American fashion conglomerate to rival its European counterparts such as LVMH and Kering. According to the New York Times, all companies under the umbrella will now operate under the Tapestry name. NPR reports that once the deal goes through, estimated to be next  year, Tapestry will become the fourth largest luxury company in the world, with a combined market share of around 5.1% of the luxury goods market.

Lil Nas X, Stuart Vevers at the Coach Fall 2023 runway show

George Kolasa has died, aged 57

Tributes have poured in on social media after the passing of beloved fashion marketing executive George Kolasa was announced. Kolasa had been diagnosed with Glioblastoma, a form of brain cancer, in March 2022. On Instagram, the 30-year veteran who helped build brands like Burberry, Armani, Tommy Hilfiger, and Ralph Lauren, had documented his battle against the disease in a bid to raise awareness and vital funds. A personal essay shared with Vogue further detailed his tireless campaigning to raise money for Memorial Sloan Kettering and Cycle For Survival, as did a poignant mini-documentary which followed Kolasa coming to terms with his diagnosis. Kolasa is survived by his husband, Justin Tarquinio, and the family have asked for donations in lieu of flowers. RIP.

Celebrity hairdresser John Barrett has died, aged 66 

John Barrett, the legendary coiffeur whose chair saw everyone from Princess Di and Hilary Clinton to Martha Stewart, Candace Bergin, and the Olsen sisters, has lost his battle with blood cancer. A native of Limerick, Ireland, Barrett had honed his skills in London in the 1970s before eventually moving to New York in the 1990s. In Manhattan, he was well known for running the penthouse salon space at the iconic Bergdorf Goodman for 23 years. RIP.

Roxanne Assoulin has not one, but two pop-ups in the Hamptons this weekend

Jewelry brand Roxanne Assoulin, known for its instantly-recognizable and playful beaded bracelets, is bringing the fun Out East tomorrow and Saturday, with two PlayRA events where attendees can create their own DIY arm candy. Tomorrow, Friday August 11, Roxanne Assoulin will team up with Bobbi Browns’ beauty brand Jones Road for a workshop at 55 Main Street, East Hampton from 10AM-3PM. On Saturday, the brand will take over Montauk’s go-to grab-and-go spot Joni’s Kitchen at 28 South Etna Ave for bracelet making (over their famous burritos, we hope) from 10AM-3PM.

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