Clifford Chance

“Antitrust Has Come Into Fashion” – U.S. Federal Trade Commission Wins Preliminary Injunction Against Tapestry’s Acquisition of Capri

October 25, 2024

On October 24, a U.S. federal district court judge granted the Federal Trade Commission’s (the “FTC”) motion to preliminarily enjoin the merger between fashion companies Tapestry, Inc. (“Tapestry”) and Capri Holdings Limited (“Capri”), pending the completion of the FTC's administrative trial on the merits. Tapestry, the parent company for fashion brands Coach, Kate Spade, and Stuart Weitzman, announced in August 2023 that it was acquiring Capri, the owner of Versace, Michael Kors, and Jimmy Choo, for $8.5 billion. The FTC sued to block the merger in the FTC’s in-house administrative court in April 2024, and filed a motion for a preliminary injunction the next day in the Southern District of New York.

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