Luxury Fashion Merger Block: FTC Sues Tapestry and Capri Holdings Over $8.5 Billion Deal – Why It Matters
Washington D.C. – The Federal Trade Commission is taking action to block an $8.5 billion merger between luxury fashion giants Tapestry and Capri Holdings. The FTC argues that the merger would result in higher prices for consumers in the United States. Director Henry Liu of the FTC’s bureau of competition expressed concerns about the deal, stating that it could limit consumer choices for affordable handbags and impact the wages and working conditions of hourly workers. …