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International Business Times
International Business Times
Business
AFP News

Coach Owner Tapestry Calls Off Capri Bid On Regulatory Blocks

CAPRI Tapestry Coach Michael Kors FTC Versace United States Luxury
Coach parent Tapestry said it was calling off a merger agreement with Capri, amid regulatory obstacles (Credit: AFP)

Fashion group Tapestry said Thursday that it was dropping its $8.5 billion bid for Capri, the owner of luxury brands including Michael Kors and Versace, following a successful legal challenge by US regulators.

The deal was seen as an attempt to form a new global fashion giant to compete with European powerhouses.

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