Federal judge blocks luxury brand merger between Tapestry and Capri

A federal judge on Thursday blocked the pending merger of Tapestry and Capri on the grounds that the luxury handbag and accessories makers would undermine competition. The proposed $8.5 billion merger between Tapestry and Capri was first proposed in August 2023 but faced scrutiny from the Federal Trade Commission (FTC), which sued to block the deal earlier this year. The companies viewed the tie-up as a way to better compete with European rivals by uniting six brands – Tapestry's Coach, Kate Spade and Stuar ...