Tapestry-Capri Fashion Merger Is Blocked by Judge

Published On Oct 24, 2024, 7:37 PM

A federal judge has blocked the proposed $8.5 billion merger between Tapestry (owner of Coach and Kate Spade) and Capri Holdings (owner of Versace and Michael Kors). The court ruled that the merger would significantly reduce competition in the accessible luxury handbag market, likely leading to higher prices for consumers. Tapestry plans to appeal the ruling, asserting that the fashion retail market is highly competitive.