Tapestry, Inc., the parent company of Coach, Kate Spade and Stuart Weitzman has today announced it is acquiring Capri Holdings, the global fashion luxury group consisting of Versace, Michael Kors and Jimmy Choo in an $8.5 billion deal.
The luxury brands market is dominated by European super conglomerates such as LVMH and Kering so it will be interesting to see if this acquisition puts Tapestry on a path to scale to compete with the big European players.
Acquisitions such as this create significant intellectual property portfolio changes. In the first instance the appropriate IP due diligence is key. Upon completion, depending on the company structure, it will be necessary to ensure the requisite assignments are effected and portfolio management is organised. Finally, it can be useful to take stock of each brand's existing IP and filing/protection practices to ensure that the requisite level of protection is in place so that enforcement action can be taken where necessary, both now and in the future. This is particularly important for fashion and accessories brands for whom copycat and counterfeiting practices present such huge challenges.
Marks & Clerk are specialists in all aspects of intellectual property relating to luxury brands and can assist with trade mark and design filings, portfolio management, enforcement (including litigation) and licensing.
Joanne Crevoiserat, Chief Executive Officer of Tapestry, Inc., said: "...The combination of Coach, Kate Spade, and Stuart Weitzman together with Versace, Jimmy Choo, and Michael Kors creates a new powerful global luxury house, unlocking a unique opportunity to drive enhanced value for our consumers, employees, communities, and shareholders around the world."
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
