Here's what comes next for Tapestry and Capri after the death of their major fashion merger [Fortune]
LVMH-MOET H/L/V UNSP/ADR (LVMUY)
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Source: Fortune
When it was announced last year, the acquisition of Capri by Tapestry was touted as a way to bring several famous brands under the same roof. Tapestry owns Coach, Kate Spade, and Stuart Weitzman, while Capri owns Michael Kors, Versace and Jimmy Choo. The hope was to create an American mini-version of French luxury conglomerate LVMH, albeit one more focused on so-called “affordable luxury.” But the news was followed by objections from anti-trust regulators. In April, the Federal Trade Commission sued to block the deal, arguing that it would “give Tapestry a dominant share of the ‘accessible luxury' handbag market.” And a decision by a federal judge last month made their union all but impossible. The deal may be over for both companies, but the path forward for each looks very different. While Tapestry remains in relatively good shape, Capri's journey looks to be much more arduous, particularly because it appears to have gone on autopilot since the deal was announced last year. The
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