The Power To: IN AUGUST, Tapestry—which owns Coach, Kate Spade, and Stuart Weitzman—officially agreed to acquire its rival group Capri for $8.5 billion, adding Michael Kors, Versace, and Jimmy Choo to its arsenal of brands. While Europe already has conglomerates like Kering (Gucci, Balenciaga, Yves Saint Laurent), LVMH (Louis Vuitton, Givenchy, Dior), and Richemont (Cartier, Chloé), the U.S. fashion landscape is studded with individual brands. The acquisition of Capri, then, will be the largest luxury merger in recent American fashion history, and the person who engineered it was Joanne Crevoiserat, who worked on the department-store circuit and at Abercrombie & Fitch before becoming CEO of Tapestry in 2020.
Unlike Bernard Arnault and François Pinault, the billionaire CEOs of LVMH and Kering, Crevoiserat maintains a low profile. “She’s not about the…