FTC sues to block Coach parent Tapestry's acquisition of Capri Holdings
Publishing timestamp: 2024-04-22 17:58:59
Summary
The FTC sued to block the $8.5 billion acquisition of Capri Holdings by Tapestry, the parent company of Coach and Kate Spade. The deal would bring six major fashion brands under one company. The FTC believes the merger would harm competition and consumers, while Tapestry and Capri argue that the marketplace is dynamic and consumers have many choices. Both companies plan to fight for the transaction in court.
Sentiment: MIXED
Keywords: business, retail industry, tapestry inc, business news, breaking news: business, capri holdings ltd,
Source: https://www.cnbc.com/2024/04/22/ftc-sues-to-block-tapestry-acquisition-of-capri-holdings.html