Tapestry and Capri End Plans for ‘Accessible Luxury’ Merger
Tapestry, the owner of Coach, said it would abandon its $8.5 billion deal to buy Capri, the parent company of Michael Kors, after the Federal Trade Commission successfully sued to stop the transaction.
Tapestry and Capri Terminate $8.5B Merger Agreement
Now Capri is pressing forward with a revamp that will include store closures and a marketing push for its Michael Kors brand.
Tapestry and Capri Terminate $8.5 Billion USD Merger
After the US Federal Trade Commission halted the sale, stating that it would eliminate direct competition in the mid-tier handbag market.
Fashion houses Tapestry and Capri end merger plan as FTC gets a luxury win
The parent companies of brands such as Coach, Kate Spade, Versace and Michael Kors decided not to proceed with a court battle.
Here’s what comes next for Tapestry and Capri after the death of their major fashion merger
What would have been the biggest fashion industry merger since the mid-2000s died today after two major luxury brands confirmed that their $8.5 billion deal is off. When it was announced last year, the acquisition of Capri by Tapestry was touted as a way to bring several famous brands under the same roof.
Capri terminates Tapestry merger citing regulatory hurdles
The proposed merger that would've combined six luxury brands owned by Capri and Tapestry was abandoned by the companies due to regulatory challenges posed by an FTC lawsuit.
Tapestry, Inc. Announces Termination of Merger Agreement With Capri Holdings Limited
Tapestry, Inc. (NYSE: TPR), a house of iconic accessories and lifestyle brands consisting of Coach, Kate Spade, and Stuart Weitzman, today announced that it reached an agreement with Capri Holdings Limited (NYSE: CPRI) to terminate the merger agreement between the parties.
Capri, Tapestry Scrap Merger After FTC Blocked Deal
Capri Holdings Ltd and Tapestry Inc. scrapped their $8.5 billion plan to merge after a court order froze the proposed combination of the US fashion companies due to antitrust regulators’ objections.
Capri Holdings announces termination of merger with Tapestry
Capri Holdings (CPRI) announced the mutual termination of its definitive merger agreement with Tapestry (TPR). Capri and Tapestry mutually
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Maker of Coach handbags calls off merger with company that produces Michael Kors accessories
Fashion company Tapestry says it’s terminating its proposed merger ... the maker of Versace, Jimmy Choo and Michael ...
Michael Kors owner’s stock craters after judge blocks $8.5B merger of top US handbag makers
Capri, the parent company of fashion brands Michael Kors and Jimmy Choo, saw its stock tank by more than 50% in pre-market ...
Capri Holdings: Navigating Market Challenges with a Cautious Hold Rating
Analyst Oliver Chen of TD Cowen maintained a Hold rating on Capri Holdings (CPRI – Research Report), reducing the price target to $22.00.
More space, less money: Michael Kors halves rent at Plaza District property
Hartz Mountain Industries secured fashion retailer Michael Kors at 667 Madison through 2034, but at a notable cost.
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Coming undone: Balance restored in luxury category as Tapestry and Capri call off merger
To the surprise of no one, Tapestry (NYSE:TPR) has walked away from a potential merger with its struggling competitor Capri ...
Maker of Coach handbags calls off merger with company that produces Michael Kors...
Fashion company Tapestry on Thursday said it's terminating its proposed merger with Capri because the two luxury groups don't expect to overcome an antitrust challenge within an acceptable time frame.
Coach Owner Tapestry Calls Off Capri Bid On Regulatory Blocks
Fashion group Tapestry said Thursday that it was dropping its $8.5 billion bid for Capri, the owner of luxury brands including Michael Kors and Versace, following a successful legal challenge by US ...