U.S. Judge Jennifer Rosson of the Southern Federal Court in New York ruled in favor of the Federal Trade Commission in a lawsuit filed by the Federal Trade Commission to block Tapestry's acquisition of Capri.
Earlier in April, the Federal Trade Commission sued to block the merger, saying the merger between the two companies would hamper competition in the high-end handbag market, which is relatively less expensive than ultra-high-end luxury handbags.
Tapestry and Capri, on the other hand, have argued that they operate in highly competitive market conditions and need a merger to compete with European luxury brands, but it has not been accepted.
Tapestry has major brands such as Kate Spade and Stuart Witzman in addition to coaches, while Capri has major brands such as Michael Kors and Versace and Jimmy Choo.
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