The merger, which would bring top luxury labels such as Tapestry's Kate Spade, Stuart Weitzman and Capri's Jimmy Choo and Versace under one roof, is still awaiting clearance from U.S. regulators.
Tapestry CEO Joanne Crevoiserat told Reuters in an interview that the companies are cooperating with the FTC's requests and the deal is still on track to close in the 2024 calendar year. A merger between the two companies would help Tapestry compete better with Paris-listed LVMH in the European luxury market, even as demand for expensive handbags and accessories remains choppy in the United States.
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