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M&A Watch

Tracking mergers, acquisitions, and ownership changes in the global fashion and lifestyle industry. Understanding who owns what reveals a lot about where value is being created—and destroyed.

Major Players

LVMH

75 brands•$94.2B revenue

Focus: Luxury across all categories

Recent Activity: Aggressive acquisition of heritage brands

Kering

18 brands•$22.1B revenue

Focus: Luxury fashion and accessories

Recent Activity: Diversifying beyond Gucci dependency

Richemont

25 brands•$19.8B revenue

Focus: Jewelry and watches

Recent Activity: E-commerce platform development

VF Corporation

12 brands•$11.6B revenue

Focus: Outdoor and active lifestyle

Recent Activity: Restructuring and divestments

Recent Transactions

LVMH → Moncler

Pending
Jan 10, 2026•$8.2B
High Impact

LVMH continues its strategy of acquiring heritage brands with strong technical credentials. Moncler brings outerwear expertise and Asian market penetration.

Tapestry → Capri Holdings

Collapsed
Dec 18, 2025•Abandoned
Medium Impact

Regulatory concerns and declining Michael Kors performance led to deal termination. Reveals challenges in building American luxury conglomerates.

Nike → On Running

Rumored
Nov 22, 2025•$6.4B
High Impact

Nike reportedly exploring acquisition to compete with premium running brands. Would add Swiss engineering credibility to portfolio.

VF Corporation → Supreme (Divested)

Completed
Oct 5, 2025•$1.5B
Medium Impact

VF Corp sells Supreme at massive loss ($2.1B purchase in 2020). Case study in mismanaging streetwear brands through corporate consolidation.

Kering → Valentino

Completed
Sep 15, 2025•$3.8B
Medium Impact

Kering expands beyond Gucci-dependency. Valentino brings Roman heritage and strong Asian presence.

Market Dynamics

Consolidation Trends

  • →European luxury houses dominating global acquisitions
  • →American brands struggling to build competitive conglomerates
  • →Chinese investment in European heritage brands increasing
  • →Private equity playing bigger role in mid-tier acquisitions

Value Drivers

  • →Heritage and brand history command premium multiples
  • →Asian market presence significantly increases valuations
  • →DTC e-commerce capabilities becoming essential
  • →Sustainability credentials influencing deal structures