FTC files complaint to enjoin Tapestry's acquisition of Capri; Capri vows to defend

Capri Holdings Ltd

FTC filed complaint in SDNY on April 22, 2024, seeking to enjoin the proposed acquisition of Capri by Tapestry.
Capri Holdings strongly disagrees with FTC's decision and says transaction will not limit competition in global luxury industry.
Capri will vigorously defend the case in court alongside Tapestry and work to complete the pending acquisition.
All other regulators have approved the transaction; FTC is the only regulator that did not approve.
Tapestry and Capri operate in a highly fragmented global luxury industry with low barriers to entry.

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