Brands, Tapestry, and Capri planned an $8.5 billion deal that has been called off due to the Federal Trade Commission rejecting their plans in court. When this partnership was announced, each brand had to create a bounce-back plan. The owner of Coach (Tapestry) is planning to recuperate previously sold stocks while Capri has outlined a plan to close some Michael Kors stores in an attempt to gain back funds lost during the plan’s execution. The decision to close the deal was made a couple weeks later as the federal judge denied the inquiry, as its believed this partnership would create an unfair withdrawal of market competition within the industry of affordable bags. As a result, even though Tapestry wanted to originally appeal the deal, theyve both “mutually agreed” to not overturn the ruling.
