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Market
What will be the market position of Tapestry and Capri Holdings by the end of 2025?
2
US•Federal Trade Commission•FTC•Tapestry•Coach•Kate Spade•Capri Holdings•Michael Kors•Versace•Jimmy Choo•Capri
Resolution / Starting Odds
Tapestry market cap increases significantly • 25%
Capri Holdings market cap recovers significantly • 25%
Both companies' market caps decline • 25%
Both companies' market caps remain stable • 25%
Market capitalization data from financial platforms
Story
Judge Blocks Tapestry's $8.5B Capri Acquisition in FTC Win; Capri Shares Sink 54%
Oct 24, 2024, 08:35 PM
A US federal judge has blocked Tapestry Inc.'s proposed $8.5 billion acquisition of Capri Holdings Ltd., siding with the Federal Trade Commission (FTC) over competition concerns in the accessible luxury handbag market. The court granted the FTC's preliminary injunction, finding that 'accessible-luxury handbags are distinct from mass market and true luxury.' The merger would have combined Tapestry, owner of Coach and Kate Spade, with Capri Holdings, parent company of Michael Kors, Versace, and Jimmy Choo. Following the decision, Capri's shares plunged 54% in after-hours trading, while Tapestry's shares rose 14%. Capri Holdings has filed a notice of appeal in response to the ruling.
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Similar markets
Increase by 10% or more • 25%
Increase by less than 10% • 25%
Decrease by less than 10% • 25%
Decrease by 10% or more • 25%
Acquisition approved • 25%
Acquisition blocked permanently • 25%
Acquisition modified and approved • 25%
Acquisition withdrawn • 25%
Tapestry outperforms Capri • 25%
Capri outperforms Tapestry • 25%
Both perform equally • 25%
Both underperform market • 25%
Sell Stuart Weitzman • 25%
Acquire a new brand • 25%
Merge with another company • 25%
No major action • 25%
Focus on organic growth • 25%
Seek new merger/acquisition • 25%
Sell off a major brand • 25%
Other strategic move • 25%
Yes • 50%
No • 50%
New acquisition attempt • 25%
Expansion of existing brands • 25%
Cost-cutting measures • 25%
Other strategic move • 25%
FTC wins • 25%
Tapestry wins • 25%
Settlement reached • 25%
Case dismissed • 25%