Tapestry takes an $855 million write-down on Kate Spade—and casts serious doubt on its strategy to turn around underperforming brands
When Tapestry announced two years ago it was buying Michael Kors owner Capri Holdings in a deal regulators ultimately scuttled, the fashion company argued that the tech and supply-chain infrastructure it had built for its Coach brand would allow it to turn around underperforming brands more quickly. It turns out Tapestry can’t even turn around … Read more