New York-based accessory and footwear group Tapestry and Capri Holdings have agreed not to go ahead with a proposed merger.

Tapestry, whose brands are Coach, Stuart Weitzman and Kate Spade, announced in August 2023 that it wanted to acquire Capri Holdings, whose brands are are Versace, Michael Kors and Jimmy Choo. However, the Federal Trade Commission (FTC) the competition authorities in the US, moved to block the deal because, it said, it would be bad for consumers.

Share this story: