Joanne Crevoiserat: The Tapestry CEO cut a deal to buy Capri and create a $12 billion fashion giant with six brands and big ambitions.

Joanne Crevoiserat, the CEO of Tapestry Inc., has made a deal to buy Capri Holdings, creating a fashion giant with six brands and annual sales of over $12 billion. This unexpected merger caught many off guard, but Crevoiserat believes it is a natural fit and an opportunity to make the business bigger and more relevant. The combination of Tapestry and Capri is a bid for scale in the $200 billion global luxury market, and Crevoiserat plans to leverage their platform to deliver more value and expand their capabilities. The acquisition is seen as a reflection of Tapestry's strength and its successful execution over the years. [Extracted from the article]