These distinct designer brands all have something in common: a single parent company named Tapestry, Inc. That parent company has been getting bigger and bigger throughout 2023.
"Growth-oriented acquisitions really help to drive the business further, " said Dana Telsey, CEO of Telsey Advisory Group.
"New designers can create interest because you can extend your customer base, whether it's extending your customer base older or younger, or extend your customer base globally."
The popularity of online shopping has also provoked retailers to pursue mergers that promote expansion online and in stores.
As social media creates new avenues for promotion, brands grappling with the high cost of celebrity endorsements are looking to expand their resources through mergers and acquisitions.
Persons:
Jimmy Choo, Versace, Michael Kors, Kate Spade, Dana Telsey
Organizations:
Telsey Advisory
Locations:
Europe