The FTC filed a lawsuit to block Tapestry and Capri Holdings' $8.5bn merger, citing potential harm to competition and consumer prices.
The Federal Trade Commission (FTC) has filed a lawsuit to block luxury fashion conglomerates Tapestry and Capri Holdings' $8.5bn merger, stating that the deal would eliminate competition between their respective brands like Coach and Michael Kors, leading to higher prices for consumers and potentially harming employees' wages and workplace benefits. The combined Tapestry and Capri would control six fashion brands, including Tapestry's Coach, Kate Spade, and Stuart Weitzman and Capri's Michael Kors, Versace, and Jimmy Choo.
April 22, 2024
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