FTC sues to block Tapestry's acquisition of Capri Holdings; Tapestry responds

TAPESTRY, INC.

FTC filed complaint on April 22, 2024 seeking to enjoin Tapestry's acquisition of Capri Holdings.
Tapestry calls deal pro-competitive, says FTC misunderstands fragmented $200B global luxury industry.
Combined company would unite six brands including Coach, Kate Spade, Versace, and Michael Kors.
Tapestry expects to close in calendar year 2024; FTC is last regulator yet to approve.

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