FTC to Block Tapestry's $8.5 Billion Capri Holdings Merger in New York Trial

Sep 9, 2024, 09:24 AM

The U.S. Federal Trade Commission (FTC) is set to urge a federal judge in New York to block Tapestry's $8.5 billion merger with rival handbag maker Capri Holdings. The trial, beginning on September 9, will focus on the FTC's argument that the merger would eliminate fierce competition in the market for 'accessible luxury.' This development comes amidst other notable activities involving Tapestry, including its potential sale of the Stuart Weitzman brand, which is predominantly part of its footwear portfolio with some handbag offerings.