Here’s what comes next for Tapestry and Capri after the death of their major fashion merger
What would have been the biggest fashion industry merger since the mid-2000s died today after two major luxury brands confirmed that their $8.5 billion deal is off. When it was announced last year, the acquisition of Capri by Tapestry was touted as a way to bring several famous brands under the same roof.
Capri and Tapestry end their $8.5 billion merger after FTC blocked it
Fashion companies Capri Holdings Limited and Tapestry -- parent companies behind the Coach and Michael Kors brands -- ended their $8.5 billion merger deal Thursday. The deal was blocked by the Federal Trade Commission.
Tapestry and Capri End Plans for ‘Accessible Luxury’ Merger
Tapestry, the owner of Coach, said it would abandon its $8.5 billion deal to buy Capri, the parent company of Michael Kors, after the Federal Trade Commission successfully sued to stop the transaction.
Tapestry and Capri Terminate $8.5 Billion USD Merger
After the US Federal Trade Commission halted the sale, stating that it would eliminate direct competition in the mid-tier handbag market.
Fashion houses Tapestry and Capri end merger plan as FTC gets a luxury win
The parent companies of brands such as Coach, Kate Spade, Versace and Michael Kors decided not to proceed with a court battle.
Capri, Tapestry Scrap Merger After FTC Blocked Deal
Capri Holdings Ltd and Tapestry Inc. scrapped their $8.5 billion plan to merge after a court order froze the proposed combination of the US fashion companies due to antitrust regulators’ objections.
Tapestry’s stock pops and Capri falls as fashion giants scrap merger deal
Tapestry Inc.’ stock jumped 6.8% early Thursday, while Capri Holdings Inc.’s stock fell about 4%, after Tapestry said it’s terminating its $8.5 billion merger agreement with its smaller rival.
Capri terminates Tapestry merger citing regulatory hurdles
The proposed merger that would've combined six luxury brands owned by Capri and Tapestry was abandoned by the companies due to regulatory challenges posed by an FTC lawsuit.
Maker of Coach Handbags Calls off Merger With Company That Produces Michael Kors Accessories
Fashion company Tapestry says it’s terminating its proposed merger with Capri because the two luxury groups don’t expect to ...
Major fashion handbag brand gives huge update on FTC merger appeal
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Coach parent Tapestry pulls $8.5 billion bid for Capri after FTC roadblock
Tapestry terminates its acquisition of Capri, owner of Michael Kors, due to legal challenges, boosting shares and unveiling a ...
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Capri revenue falls sharply as hopes of a Tapestry merger dim
Revenue at Michael Kors, the company’s biggest brand, dropped 16% year over year. Revenue at the brand dropped by double ...