US court blocks Coach owner’s $8.5 bn buyout of Versace parent …C0NTINUE READING HERE >>>
The Capri-Tapestry deal was seen as an attempt to create a new global fashion giant to compete with European powerhouses.
Photo: SETH HERALD / AFP/File
Source: AFP
A US judge on Thursday blocked fashion group Tapestry’s $8.5 billion deal to buy Capri, which owns luxury brands including Michael Kors and Versace, citing a potential loss of competition.
The deal, seen as an attempt to create a new global fashion giant to compete with European powerhouses, was halted by a court in New York after the US Federal Trade Commission (FTC) sued to prevent it earlier this year.
“The Court finds…
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