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Capri Holdings Limited is a holding company that owns luxury brands Versace, Jimmy Choo, and Michael Kors, specializing in accessories, footwear, and ready-to-wear apparel. The company operates through three segments: Versace, which includes luxury fashion and e-commerce; Jimmy Choo, focusing on shoes and handbags; and Michael Kors, which sells products through various retail formats and online platforms. UBS has reiterated a neutral rating for the company.
Tapestry Inc.’s $8.5 billion acquisition of Capri Holdings Ltd. is in jeopardy following a court order that temporarily blocks the buyout, a significant win for the FTC. This ruling has led to a sharp decline in Capri's stock, which hit record lows, and has negatively impacted other companies facing antitrust scrutiny, such as Albertsons and Vizio.
UBS O’Connor is betting $4 billion on a revival in the merger-arbitrage market, which has struggled this year due to regulatory challenges. With a third of its portfolio in merger-arb, the firm anticipates a catalyst-rich quarter ahead, driven by the US presidential election and updates on key deals. Despite a slight recovery, merger-arb strategies remain among the weakest in hedge-fund performance, with a 3.5% gain compared to the broader industry’s 8.3%.
Capri Holdings Limited
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capri holdings maintains neutral rating as luxury brand segments thrive
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