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☆ Coach owner Tapestry acquires rival Capri Holdings for $8.5 billion adding Michael Kors and Versace to its offering to create a US fashion giant
▼ + stars: | 2023-08-10 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +2 min

Coach owner Tapestry is buying Capri Holdings, the parent company of Michael Kors, for $8.5 billion. The new deal gives Tapestry greater influence in the luxury market and could bolster growth internationally. Capri is the parent company of well-known fashion brands Michael Kors, Versace, and Jimmy Choo. And it could give Tapestry greater influence in the luxury market to take on European powerhouses LVMH and Kering, which own a string of luxury brands including Louis Vuitton, Tiffany's, and Gucci. By acquiring Capri, Tapestry will add three well-known luxury brands to its roster.

Persons: Tapestry, Michael Kors, Kate Spade, Versace, Jimmy Choo, Louis Vuitton, Gucci, Neil Saunders, it's Organizations: Capri Holdings, Service, GlobalData Locations: Wall, Silicon, Tiffany's

☆ Coach is the new 'cool girl' brand for Gen Z
▼ + stars: | 2023-08-10 | by ( Grace Mayer | ) www.businessinsider.com time to read: +3 min

After years of sluggish sales, Coach is seeing regained interest from Gen Z consumers. Gen Z increased its spending on Coach by 10% so far this year, according to a new report. According to a consumer spending report from Earnest Analytics, consumers under the age of 25 increased their spending on the Coach brand by 10% from January through June of this year. Once self-touted as "accessible luxury," Coach has since updated that message and its offerings to reinvent itself. In doing so, it hoped to tap into Gen Z and Millennial shoppers' values and re-elevate its luxury status.

Persons: Gen, Lil Nas, Earnest, Camila Mendes, Joon Silverstein, Coach's, Silverstein, Z, Todd Kahn, Nas X, Kate Spade, Stuart Weitzman, Michael Kors, Jimmy Choo, Versace Organizations: Service, Vogue Business, Business, Fashion, Capri Holdings, Capri Locations: Wall, Silicon, Riverdale, American, York

Tapestry , the fashion conglomerate behind Coach and Kate Spade, will acquire competitor Capri Holdings in a $8.5 billion deal announced on Thursday. It brings together six fashion brands: Tapestry's Coach, Kate Spade and Stuart Weitzman and Capri's Versace, Jimmy Choo and Michael Kors. Shares of Capri surged 58% in premarket trading to just under the per-share deal price, while shares of Tapestry roughly 4%. It's started to run a similar playbook with Kate Spade. Tapestry has also looked other parts of the world to drive growth, such as chasing higher sales in China.

Persons: Kate Spade, Stuart Weitzman, Capri's Versace, Jimmy Choo, Michael Kors, Kirsten Dunst, It's, We've, Joanne Crevoiserat, John Idol, Morgan Stanley Organizations: Capri Holdings, Capri, Disney, Bank of America Locations: American, China

☆ Stocks making the biggest moves midday: AppLovin, Roblox, Tapestry, Alibaba and more
▼ + stars: | 2023-08-10 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

AppLovin said it anticipates revenue to range between $780 million and $800 million, ahead of the $741 million expected by analysts, per Refinitiv. Alibaba — U.S.-traded shares rose 4.3% Thursday after the Chinese company beat analysts' expectations and posted its biggest year-over-year revenue growth since 2021. In the June quarter, the company posted revenue of 234.16 billion yuan versus 224.92 billion yuan expected, per Refinitiv. Earlier this week, Fleetcor posted adjusted earnings of $4.19 per share on revenue of $948.2 million. Analysts polled by FactSet called for earnings of $4.17 per share on revenue of $945 million.

Persons: Kate Spade, AppLovin, Alibaba, Versace, Jimmy Choo, Michael Kors, Wynn, Refinitiv, Jefferies, Truist, Nick McKay, Fleetcor, FactSet, — CNBC's Brian Evans, Hakyung Kim, Samantha Subin, Jesse Pound, Yun Li, Alex Harring Organizations: Disney —, Disney, Capri Holdings, Capri, Wynn, —, Penn Entertainment, Disney's ESPN, Wedbush Locations: Marina, Sands, Singapore, Alibaba —, Wednesday's

☆ Tapestry and Capri are combining in an $8.5 billion deal
▼ + stars: | 2023-08-10 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

Tapestry Inc., which owns Kate Spade and Coach, announced Thursday that it’s acquiring Capri Holdings, the parent company of Michael Kors and Versace. The $8.5 billion deal could help them better compete against their higher-end European rivals. Under terms of the deal, Capri shareholders will get $57 per share. Coach changed its parent name to Tapestry in 2017 and Michael Kors switched to Capri after it bought Versace in 2018. Those warning signs have “put pressure on Tapestry and Capri, both of which are now looking to international markets to bolster growth,” Saunders said.

Persons: New York CNN — Michael Kors, Kate Spade, Michael Kors, Versace, Stuart Weitzman, Jimmy Choo, Neil Saunders, ”, Jean, Jacques Guiony, ” Saunders Organizations: New, New York CNN, Tapestry Inc, Capri Holdings, ”, Capri Locations: New York, United States

☆ Fintech VCs are readying their checkbooks as cash-strapped startup founders run out of options
▼ + stars: | 2023-08-08 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Fintech funding has been on a decline from 2021's peak levels, but VCs see signs of a rebound. VCs are itching to get back to dealmaking as they see early signs of a rebound in the fintech industry. Cash-strapped founders who didn't want to fundraise in a down market and get valuations slashed are running out of options and time. They dominated the fintech market in the past several years, but the shine is wearing off, Shriner said. Fintech VCs will get to spend more time on due diligence, looking beyond so-called "vanity metrics," Fernandez said.

Persons: Cash, didn't, Mark Peter Davis, Davis, We're, Tripp Shriner, Robert Ruark, Ruark, B2C, VCs, Shriner, — crowdedness, Stephanie Choo, Marcos Fernandez, KPMG's Ruark, Fintech, Fernandez Organizations: Interplay, Investors, Point72 Ventures, KPMG, Tiger, Portage Ventures, Fiat Ventures Locations: dealmaking, VCs, overvaluations

☆ Opinion | Coup-Coup-Ca-Choo, Trump-Style
▼ + stars: | 2023-08-05 | by ( Maureen Dowd | ) www.nytimes.com time to read: +1 min

Donald Trump is in the dock for trying to cheat America out of a fair election and body-snatch the true electors. But the arrest of Trump does not arrest the coup. The fact is, we’re mid-coup, not post-coup. The former president is still in the midst of his diabolical “Who will rid me of this meddlesome democracy?” plot, hoping his dark knights will gallop off to get the job done. His father disdained losers and Trump would rather ruin the country than admit he lost.

Persons: WASHINGTON, Donald Trump, Trump, Biden, disdained Organizations: New York Times, Siena College

☆ X Sign Removed From Former Twitter HQ
▼ + stars: | 2023-08-01 | by ( Lindsey Choo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/x-sign-removed-from-top-of-former-twitter-hq-59f5a9f0

Persons: Dow Jones

☆ Want to Quit Your Job or Dump a Boyfriend? Hire Celebrities to Break the News
▼ + stars: | 2023-07-31 | by ( Lindsey Choo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/cameo-app-hire-celebrities-to-deliver-personal-messages-c2090cce

Persons: Dow Jones

☆ Snap Revenue Falls Amid Efforts to Retool Ad Business
▼ + stars: | 2023-07-25 | by ( Lindsey Choo | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

☆ Threads User Engagement Continues to Drop, Adding Urgency for New Features
▼ + stars: | 2023-07-21 | by ( Lindsey Choo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/threads-user-engagement-continues-to-drop-adding-urgency-for-new-features-8ed2f384

Persons: Dow Jones

☆ Threads Is Already Losing Its Allure for Users, Adding Urgency for New Features
▼ + stars: | 2023-07-21 | by ( Lindsey Choo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/threads-user-engagement-continues-to-drop-adding-urgency-for-new-features-8ed2f384

Persons: Dow Jones

☆ Twitter Starts Sharing Ad Revenue With Creators
▼ + stars: | 2023-07-14 | by ( Lindsey Choo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/twitter-starts-sharing-ad-revenue-with-creators-8ec60124

Persons: Dow Jones, 8ec60124

☆ Meta’s Threads Now Has to Keep Its Millions of Users Engaged
▼ + stars: | 2023-07-13 | by ( Meghan Bobrowsky | Lindsey Choo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/metas-threads-now-has-to-keep-its-millions-of-users-engaged-343e345b

Persons: Dow Jones

☆ How McDonald’s Turned Grimace Into TikTok Gold
▼ + stars: | 2023-07-12 | by ( Ashley Wong | Lindsey Choo | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

☆ Snap’s Push to Tempt Creators Seems to Be Working
▼ + stars: | 2023-07-09 | by ( Lindsey Choo | Meghan Bobrowsky | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/snaps-push-to-tempt-creators-seems-to-be-working-1387f6f6

Persons: Dow Jones

☆ Meta Asked by Senators to Detail Efforts to Prevent Sharing of Child Sexual-Abuse Material
▼ + stars: | 2023-06-30 | by ( Lindsey Choo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/meta-asked-by-senators-to-detail-efforts-to-prevent-sharing-of-child-sexual-abuse-material-f66ac0cc

Persons: Dow Jones

☆ Japan, S.Korea to discuss FX swap deal in first finance talks since 2016
▼ + stars: | 2023-06-28 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

The swap deal expired in 2015 amid worsening relations over issues related to Japan's wartime occupation of the Korean Peninsula, and its restoration would symbolise the improvement in relations, analysts say. "We must strongly raise the momentum for historic improvement of Japan-South Korea relations. The ministers will also discuss global economic developments, infrastructure investment in developing countries, and the role both countries could play in multilateral financial cooperation. The bilateral finance talks, the eighth of their kind, were last held in 2016. Reporting by Tetsushi Kajimoto; Editing by Leika Kihara, Simon Cameron-Moore and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Yoon Suk Yeol, Kim Keon, Issei Kato TOKYO, Shunichi Suzuki, Choo Kyungho, Masato Kanda, Suzuki, Choo, Tetsushi Kajimoto, Leika Kihara, Simon Cameron, Moore, Gerry Doyle Organizations: Tokyo International, REUTERS, Japanese Finance, Korean, Thomson Locations: Korean, Tokyo, Japan, South Korea, China, North Korea, Ukraine

At its peak in 2011, the swap deal was worth $70 billion. With both sides sitting on ample foreign exchange reserves, the swap deal is unlikely to be put into action anytime soon, he added. Masato Kanda, Japan's vice finance minister for international affairs also said the currency swap deal would promote co-operation. The bilateral finance talks were to have taken place every year under a 2006 agreement, but were last held in 2016. With China and North Korea growing concerns, South Korean President Yoon Suk Yeol met with Japanese Prime Minister Fumio Kishida in May, the third between the two this year, marking a thaw in years of icy relations between the Asian neighbours.

Persons: Yoon Suk Yeol, Kim Keon, Issei Kato, Shunichi Suzuki, Choo, Suzuki, Masato Kanda, Kanda, Fumio Kishida, Tetsushi Kajimoto, Jihoon Lee, Edwina Gibbs, Clarence Fernandez, Kim Coghill Organizations: Tokyo International, REUTERS, Japanese Finance, Korean, Japanese, South Korea, Thomson Locations: Korean, Tokyo, Japan, Seoul TOKYO, SEOUL, South Korea, Seoul, China, North Korea, South

☆ Dyson doubles down on Singapore and ramps up hiring globally
▼ + stars: | 2023-06-20 | by ( Nessa Anwar | ) www.cnbc.com time to read: +3 min

The company is trying to hire another 2,000 engineers globally, according to Dyson's director of upstream robotics, Kashyap Chandrasekar. The Dyson 360 Vis Nav robot vacuum is displayed at the company's headquarters at St. James Power Station in Singapore in May 2023. Lauren Choo | CNBCAnother Dyson device that has garnered attention, due to its futuristic look, is the Dyson Zone — headphones that double as a wearable purifier. Dyson's global investment planSince its inception in 1991, founder Sir James Dyson has been set on pioneering new technology. The company currently has a £2.75 billion investment plan divided across Singapore, the U.K. and the Philippines.

Persons: Dyson, John Churchill, Kashyap Chandrasekar, Lauren Choo, Churchill, We'll, Sir James Dyson, they're Organizations: Robotics, James Power, CNBC, Dyson, St Locations: St, Singapore, United Kingdom, Philippines, Malaysia, Shanghai, Batangas

☆ Watch CNBC's full interview with the South Korean deputy prime minister
▼ + stars: | 2023-06-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with the South Korean deputy prime ministerSouth Korean Deputy Prime Minister and Minister of the Economy and Finance Choo Kyung-ho discusses Japan, the U.S. Inflation Reduction Act, the global economy, foreign investment and more.

Persons: Finance Choo Organizations: South Korean, South, Finance Locations: Japan, U.S

☆ South Korea plans to discuss bilateral FX swap with Japan, finmin says
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +1 min

SEOUL, June 8 (Reuters) - South Korea will discuss with Japan re-establishment of their bilateral foreign exchange swap line that expired in 2015, its finance minister said on Thursday. "Current economic issues, including bilateral and regional financial cooperation, will be discussed at the bilateral finance minister meeting on June 29," Minister Choo Kyung-ho said, adding that currency swap arrangement was also on the agenda. Choo was speaking at a discussion forum, in response to a reporter's question about the bilateral finance minister meeting between Japan and South Korea that is scheduled to be held in Tokyo. On the domestic economy, Choo said this year's economic growth would likely be "slightly lower" than the government's previous projection of 1.6%. He said the revision would be contained in the government's economic forecast due in late June or early July, when it releases its biannual policy plans.

Persons: Choo Kyung, Choo, Jihoon Lee, Shri Navaratnam, Simon Cameron, Moore Organizations: Thomson Locations: SEOUL, South Korea, Japan, Tokyo

☆ In a TikTok world, many wedding traditions don't stand a chance
▼ + stars: | 2023-05-27 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +9 min

The wedding industry is beginning to see the fallout of this shift away from tradition. That meant "wedding TikTok" — with its dancing groomsmen and videographers turned influencers — was the next best thing. "So it is time for us in the wedding industry to expand the definition of what a perfect day means." Adrienna McDermott spent nine years in the wedding industry before starting a marketing agency for wedding professionals called Ava and the Bee. "It really opened up my eyes for the power of TikTok," Lee said.

☆ A world in three islands on the Mediterranean
▼ + stars: | 2023-05-25 | by ( Pavlo Fedykovych | ) edition.cnn.com time to read: +16 min

CNN —In the middle of the Mediterranean Sea lies a small country made up of three inhabited islands and irresistible allure. Across its three inhabited islands – Malta, Gozo and Comino – you’ll find every sun-soaked aspect of the perfect vacation. The solution: Marsaskala, towards the southeastern tip of Malta island. Mellieħa Bay and St. Paul’s BayBugibba is a classic seaside resort town in St. Paul's Bay. The population is a modest two people, there are no cars, and no signs of globalization – just the untouched Mediterranean.

☆ Fan Bingbing spotlights Asian designers at Cannes
▼ + stars: | 2023-05-25 | by ( Oscar Holland | ) edition.cnn.com time to read: +5 min

Making her first appearance at Cannes since 2018, Fan arrived at last Tuesday’s opening event (the premiere of Johnny Depp’s new film “Jeanne du Barry”) wearing a creation by Christopher Bu. Fan Bingbing attends the Red Sea International Film Festival's "Women's Stories Gala" wearing an outfit by South Korean label Miss Sohee. Fan Bingbing in a golden gown by Vietnamese fashion designer Chung Thanh Phong. Her looks at Cannes have not been exclusively by Asian designers. Fan attending the Oscars in March 2023, one of her first public appearances outside China since a tax controversy threatened to derail her career.

Persons: Fan Bingbing, Louis Vuitton, Fan, Johnny Depp’s, Jeanne du Barry ”, Christopher Bu, Sohee, Daniele Venturelli, Miss Sohee, Chung Thanh, Jimmy Choo, Harvey Cenit, Chung Thanh Phong, Arnold Jerocki, FanBingbingCannes, Mikael D, Mikael Derderian, Wes Anderson’s, Tamara Ralph, Ralph, Russo, ”, Emma McIntyre, Jessica Chastain, Penélope Cruz, Tony Ward Couture Organizations: CNN, Cannes, South, Palais des, Red Sea, Miss, Sohee, Canadian, Forbes, Global Times, The Berlin, Fashion Locations: China, South Korean, Korean, Weibo, Lebanese, Charleston

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