FTC Moves to Block Tapestry’s Acquisition of Capri

If allowed, the deal would eliminate direct head-to-head competition between Tapestry’s and Capri’s brands.

Metadata
Provider: 
FTCFTC
URL: 
https://www.ftc.gov/news-events/news/press-releases/2024/04/ftc-moves-block-tapestrys-acquisition-caprihttps://www.ftc.gov/news-events/news/press-releases/2024/04/ftc-moves-block-tapestrys-acquisition-capri
Retrieved on: 
Tuesday, April 23, 2024
Information
Tags: 
Tapestry, Kate Spade, Social media, Blog, News, Acquisition, Shoe, Commission, Complaint, Competition, Marketing, Hearing, Advertising, Federal Trade Commission, FTC, Retail
Summary
Key Points: 
  • If allowed, the deal would eliminate direct head-to-head competition between Tapestry’s and Capri’s brands.
  • The deal also threatens to eliminate the incentive for the two companies to compete for employees and could negatively affect employees’ wages and workplace benefits.
  • Post acquisition, the combined Tapestry and Capri would employ roughly 33,000 employees worldwide.
  • It has continuously sought to acquire a variety of fashion brands, successfully pursuing many of its target acquisitions.
  • A public version of the complaint will be available and linked to this news release as soon as possible.
Copyright: 
2024 FTC. All Rights Reserved.