Coach-Owner Tapestry Bought Capri Holdings and Scandinavian Designers Hit CHFW in This Week's Top Fashion News

This week, the fashion industry received news that Tapestry Inc. would be acquiring Capri Holdings in a deal valued at $8.5 billion USD, meaning that Coach, Kate Spade, Stuart Weitzman, Versace, Jimmy Choo and Michael Kors would all fall under what would become the largest luxury fashion conglomerate in America. While the media digested that news, Copenhagen Fashion Week was in full swing, with Spring/Summer 2024 runway shows from the likes of Saks Potts, Sunflower and GANNI, among others.

Elsewhere, Kim Kardashian appeared in Marc Jacobs’ Fall 2023 campaign; Ralph Lauren beat its fiscal Q1 earnings estimates; Stüssy and Born X Raised announced their first-ever collaboration, and the Moncler x Billionaire Boys Club teasers were abound.

Below, Hypebeast has rounded up the top fashion stories of the week so you can stay up to date on trends in the industry.

Tapestry Acquires Versace, Jimmy Choo and Michael Kors in $8.5 Billion USD Deal

Robert Alexander/Getty Images

Tapestry Inc. will officially acquire Capri Holdings in a deal valued at approximately $8.5 billion USD, according to Business of Fashion. The acquisition will unite Tapestry’s Coach, Kate Spade and Stuart Weitzman with Capri’s Versace, Jimmy Choo and Michael Kors under one roof, forming an American fashion group worth $12 billion USD.

The sale, which closed after years of deal-making between the two companies, marks a large step in America’s bid to build a powerhouse parent company like Europe’s LVMH Moët Hennessy Louis Vuitton or Kering. Still, the U.S. fashion group falls short by a hefty sum; in 2022, Kering reported sales of €20.35 billion EUR, and LVMH posted sales of €79.2 billion EUR.

Copenhagen Fashion Week Was in Full Swing

Mathias Nordgren

This last week, Copenhagen Fashion Week drew an international crowd to the Denmark capital, where a slew of path-forging designers presented their latest collections for the Spring/Summer 2024 season.

Among them, Saks Potts offered up a wardrobe fit for all occasions; Latimmier provided a commentary on uniforms worn by men in power, and Rolf Ekroth referenced the past through rose-colored glasses. Later in the week, Sunflower celebrated classic ’80s menswear; Henrik Vibskov created fashion inspired by boxes, and GANNI tapped into artificial intelligence with a slew of collaborations.

See all of Hypebeast’s Copenhagen Fashion Week coverage, here.

Kim Kardashian Fronted Marc Jacobs’ Fall 2023 Campaign

Tyrone Lebon

Marc Jacobs tapped none other than Kim Kardashian to star in its Fall 2023 campaign, shot by London-based photographer and filmmaker Tyrone Lebon.

Kardashian, styled by i-D‘s Editor-in-Chief Alastair McKimm, appears wearing a buttoned-up black coat over a polka-dotted underlayer while holding the brand’s signature “The Tote Bag.”

Notably, Marc Jacobs first teased the campaign with a close-up shot of the reality starlet, with its signature branding in the foreground. The post caused quite a ruckus in the comment section, with many stating that she was not the right choice for the campaign — but let’s face it: Kim K has influence.

See the campaign here.

Ralph Lauren Beat Q1 Earnings Estimate, As Its Prices Continue to Increase

Richard Phibbs

Ralph Lauren on Thursday revealed its fiscal first-quarter earnings, reporting increases in net income and revenue that surpassed Wall Street expectations.

In the three months ending July 1, the American apparel company’s net income reached $132.1 million USD, up 7% from the same period in the year prior. Adjusted earnings per share landed at $2.34 USD, which is 20 cents higher than analysts’ expectations of $2.14 USD, per FactSheet.

Additionally, Ralph Lauren’s first-quarter revenues climbed to $1.5 billion USD, marking a small 1% increase, with currencies adjuted, from the company’s $1.49 billion USD in Q1 2022.

The report comes as Ralph Lauren continues to raise its prices, in an effort to boost brand prestige. Earlier this month, the company increased its average unit retail (AUR) prices by 15%, following on from an 8% increase last year. Since 2018, the brand’s AUR has grown by roughly 80%.

Born X Raised and Stüssy Announced Their First-Ever Collaboration

Antosh Cimoszko

Following on from its mid-season capsule collection with the Los Angeles Dodgers, Born X Raised has revealed its first-ever collaboration with neighboring streetwear label, Stüssy. Merging two exemplary SoCal tags, the partnership looks to blend “heritage, style and creativity” across a limited-edition range of ready-to-wear pieces and accessories.

Among the collection, three T-shirt designs artfully fuse Born X Raised lettering with Stüssy’s classic graffiti typography. One, in particular, titled the “Handstyle” tee, dons the distinct writing of Born X Raised’s co-founders, 2Tone and Spanto. 2Tone’s signature commands the front of the shirt, while Spanto, who sadly passed away in June of this year, is remembered on the back of the design.

Born X Raised’s Stüssy collaboration will launch online on August 11. Take a first look here.

Supreme Dropped Its First FW23 Teaser

Supreme

Supreme on Tuesday dropped the first teaser for its upcoming Fall/Winter 2023 collection, offering just a glimpse at what to expect from its next lineup of logo-laden wares.

Where previous collection teasers have pictured wild statement pieces and hinted at collaborations, this season’s first-look image appears more pared-back. In lieu of the shock factor, Supreme leads FW23 with a quintessential Box Logo Hoodie, featuring camo-backed iconography in the center of the design. The staple silhouette appears above a pair of light-wash jeans, with no visible signage.

“New Fall/Winter 2023 collection coming soon,” Supreme captioned the post. See it here.

Dior Signed K-Pop Group Tomorrow X Together as Global Ambassadors

Dior

K-pop’s power players have the fashion industry in a choke-hold, and they’re showing no signs of letting go. As the latest high-fashion house to dive into the South Korean genre, Dior named K-pop quintet Tomorrow X Together (TXT) its newest brand ambassadors, earlier this week.

Members Soobin, Yeonjun, Beomgyu, Taehyun and Hueningkai teased the announcement last weekend, wearing custom-made Dior ensembles during their history-making set at Chicago’s Lollapalooza festival, where they became the first Korean group to headline the festival.

“Tomorrow X Together are the perfect ambassadors for Dior. They have a great attitude and style and they look great in their custom stage outfits,” said Dior artistic director Kim Jones.

Clipse Starred in Moncler x Billionaire Boys Club’s Official Collaboration Teaser

Moncler/Billionaire Boys Club

Ahead of their much-anticipated collaboration’s release next week, Moncler and Billionaire Boys Club are fueling fan fever with a carefully-calculated promotional campaign. After dropping a fast-paced, six-second teaser earlier this week, the Italian high-end outerwear brand and Pharrell’s streetwear label returned with a new visual spotlighting key pieces from the range on none other than Clipse, the hip-hop duo comprising Pusha T and No Malice.

The 11-second clip pictures the two rappers in a familiar, snow-capped setting to the previous teaser. In the first frame, King Push wears a shiny black puffer jacket and reflective trousers in the foreground of an ice-covered cabin. The next cut pictures him draped in a black varsity jacket with massive dual-branded incography, featuring the BBC astronaut motif inside Moncler’s signature logo shape, planted on the chest. No Malice, meanwhile, wears a yellow sweater and similar glossy pants, styled with a pair of rubber-soled boots.

“Moncler x Billionaire Boys Club landing 15.08.23 worldwide,” the two labels captioned the video on Instagram. See it here.