FTC Blocks Tapestry-Capri Merger As Tapestry Vows To Fight Saying It's 'Pro-Consumer'

The U.S. District Court blocked the acquisition of Capri Holdings by Tapestry due to FTC allegations of potential market dominance in the luxury handbag industry. Tapestry plans to appeal, arguing the merger is pro-competitive. The decision may set a precedent for future anti-trust cases.