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![Coach parent buys Versace and Michael Kors owner for $8.5 billion as U.S. big fashion races to catch up with billionaire Bernard Arnault's European luxury giant LVMH](https://content.fortune.com/wp-content/uploads/2023/08/GettyImages-1239232020-e1692990740871.jpg?resize=1200,600)
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Coach owner to buy Michael Kors, Versace parent company in $8.5
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Coach parent buys Versace and Michael Kors owner for $8.5 billion
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