Versace’s new owner wants to be a big beast. But it’s no match for Europe’s behemoths

Tapestry’s purchase of three big fashion names gives it heft. But LVMH and Kering have the front row to themselves

For the past two years, Coach, Michael Kors and Kate Spade New York have been the cornerstone of a particular type of New York fashion.

A bit ritzy without being eye-wateringly expensive, they mushroomed during the 1990s and 2000s, defining American leisure-glamour – the sort of thing you might see in Sex and the City then and Real Housewives of New York now – and rolling it out for a wealthy middle class who wanted attainable handbags they could save up for, rather than just the 0.1% who had money to burn.

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