The luxury industry acquisition war is in full swing, following LVMH and Gucci's parent company Kering, and Cartier's parent company Richemont, Coach's parent company has also joined the battle.According to The Wall Street Journal, Tapestry, the parent company of Coach, is in negotiations to acquire Capri Holdings, the parent company of many well-known luxury brands such as Michael Kors, Jimmy Choo, and Versace.The report states that this deal will be one of the largest mergers and acquisitions in the luxury industry in recent years. According to insiders, the negotiations have been ongoing for several months, and if all goes well, the deal will be announced this Thursday.Tapestry has always been building its own fashion empire through acquisitions, competing with European giants such as LVMH and Kering.According to the financial report, Tapestry's performance for the third quarter of the fiscal year 2023 (three months ending April 1, 2023) showed a 5% increase in group revenue to $1.51 billion. Calculated at constant exchange rates, revenue increased by 9%, and revenue for each brand also grew.Tapestry's stock price is currently $41.24, with a 6% increase year-to-date, and the company's market value is slightly below $10 billion.Capri is in a relatively difficult situation, with underperforming main brand Michael Kors and inconsistent performance of acquired brands.Capri was scheduled to release its latest financial report on Tuesday, but it was later postponed to Thursday morning without providing any reasons. The company had previously warned that its sales performance was disappointing.Currently, Capri's stock price is $34.61 per share, a 40% decline year-to-date, and the company's market value has sharply declined since its peak of $20 billion in early 2014, currently standing at only $4 billion.Capri was founded by fashion designer Michael Kors over twenty years ago. In 2011, the company went public as Michael Kors Holdings (MK). In 2017, MK acquired designer footwear brand Jimmy Choo, and in 2018, it acquired Italian fashion brand Versace. After the acquisition of Versace, the company changed its name to Capri.In recent years, the luxury goods industry has always been synonymous with &#34;making money with eyes closed,&#34; but it seems that those days are coming to an end. From the global luxury leader LVMH to Prada in Italy, a series of luxury brands are showing signs of sales growth slowdown in key markets.The demand outlook is filled with uncertainty, and top luxury goods conglomerates have set their sights on smaller competitors, sparking a wave of mergers and acquisitions worldwide.According to the Financial Times, Kering Group acquired the French high-end perfume brand Creed in June; last month, Kering Group announced the inclusion of the Italian brand Valentino under its umbrella, further expanding its fashion empire. Richemont Group, the parent company of Cartier, has acquired a controlling stake in Gianvito Rossi, an Italian luxury footwear manufacturer.

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Tapestry is currently in negotiations to acquire Capri Holdings. The market values of the two companies are $10 billion and $4 billion respectively. If the deal goes through, it will be one of the largest mergers and acquisitions in the luxury goods industry in recent years.

Luxury industry sees another major merger and acquisition! Coach plans to acquire MK and the parent company of Versace, announced as early as today.