FILE - A chain of the Coach brand, owned by parent company Tapestry, is seen, May 3, 2019, at the Citadel Outlets in Commerce, Calif. NEW YORK — 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.
The FTC also alleged that the deal threatened to eliminate the incentive for the two companies to vie for employees and could depress wages and workplace benefits. The combined Tapestry and Capri would have employed roughly 33,000 people worldwide, the agency said.Tapestry, Capri file notice to appeal court decision blocking their $8.
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