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August 11, 2023

Coach Parent Tapestry Acquires Versace, Michael Kors & Jimmy Choo in $8.5B Deal

Two of the biggest names in fashion are joining forces. Tapestry, the parent company of Coach, Stuart Weitzman, and Kate Spade, is acquiring Capri Holdings, it was announced Thursday. The investment is reportedly worth $8.5 billion and will bring Capri portfolio companies Versace, Jimmy Choo, and Michael Kors into the Tapestry realm. The two companies boast $12 billion in annual revenue combined and an additional $2 billion in adjusted income. Commenting on the news, Tapestry CEO Joanne Crevoiserat said the takeover results in a “new powerful global luxury house.”

Boardroom’s Bernadette Doykos has more details on this lucrative transaction.


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Emmy Awards Moved to 2024 Amid Writers Strike

The ongoing SAG-AFTRA strike has affected everything from television and film premieres to, most importantly, the wages of actors and writers. The protests also caused the postponement of this year’s Emmy Awards from September to January 2024. But it looks like there might be some hope for the return of our favorite programs after all. According to The Hollywood Reporter, the Writers Guild of America is scheduled to start formal negotiations with studios and streaming platforms on Friday, Aug. 11. Now officially past the 100-day mark of the strike, newly revealed earnings reports show that the strike has already affected production houses — Lionsgate CFO James Barge said the dual Hollywood strikes are affecting profits by roughly $30 million per quarter.

NFL+ Launching for 2023 Season, Benefits Include NFL Network & RedZone

With the NFL regular season less than a month away, its streaming platform is getting an upgrade. Moving forward, NFL Network and NFL RedZone will now live on NFL+, the league announced Thursday. Priced at $6.99 per month or $49.99 a year, benefits of NFL+ include live local and primetime regular season and postseason games on mobile and tablet devices, live stream of NFL Network, live out-of-market preseason games, and more. The ad-free, slightly pricier NFL+ Premium runs you $14.99 a month, or $99.99 annually, and comes with all features of NFL+, plus a live stream of NFL RedZone, full game replays across devices, and more.

Michael Lorenzen's Vans Cleats Sent to the HOF Following No-hitter

Philadelphia Phillies pitcher Michael Lorenzen will need a new pair of cleats after his no-hitter in his home debut over the Washington Nationals on Wednesday night. According to MLB.com, the all-white Vans-branded spikes he wore Wednesday night are heading to the National Baseball Hall of Fame and Museum in Cooperstown, NY, making it the first time a pair of Vans will adorn the storied venue. “I mean, those are my only pair. We need to make another pair as soon as possible,” the 28-year-old joked after taking down the Nats 7-0. Lorenzen, who was acquired by Philly at the trade deadline, threw the 14th no-hitter in Phillies franchise history.

MLB Celebrating 50 Years of Hip-hop with Chuck D Partnership

Doing its part in the celebrations of hip-hop‘s 50th anniversary, MLB is teaming up with music legend Chuck D to develop exclusive content and programming to celebrate the connection between music’s impact on culture and baseball. During the Hip Hop 50 Live at Yankee Stadium concert on Friday, the New York-born emcee will serve as MLB’s special correspondent, capturing the atmosphere to share across MLB’s social platforms, MLB.tv and MB Network. Alongside Flavor Flav, Chuck D co-founded Public Enemy in 1985 and in 2013, was inducted into the Rock and Roll Hall of Fame.

Bayern Munich Teams Up with Logan Paul & KSI’s Prime

In addition to potentially solving its striker issue, Bayern Munich made headlines Thursday with the announcement of a partnership with Logan Paul and KSI’s beverage company, Prime Hydration. The sports drink alternative’s flagship product will be the official isotonic partner for the Bundesliga club. During this first phase, Prime will be sold exclusively at the Allianz Arena on match days. Later this year, the company plans to also grow its retail footprint in the German market and launch FC Bayern X Prime limited-edition bottles.