The Federal Trade Commission yesterday sued to block US luxury fashion holding company Tapestry’s $8.5-billion acquisition of Capri Holdings Ltd.
FTC feels, the deal, if allowed, would eliminate direct head-to-head competition between Tapestry’s and Capri’s brands, and would also offer Tapestry a dominant share of the ‘accessible luxury’ handbag market.The Federal Trade Commission yesterday sued to block US luxury fashion holding company Tapestry’s $8.5-billion acquisition of Capri Holdings Ltd.
FTC feels, the deal, if allowed, would eliminate direct head-to-head competition between Tapestry’s and Capri’s brands, and would also offer Tapestry a dominant share of the ‘accessible luxury’ handbag market.
