A pedestrian walks past a Michael Kors store in Chicago, Illinois, on August 10, 2023.
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Capri and Tapestry called off their merger on Thursday after the Federal Trade Commission blocked the massive deal.
The two American luxury brands “agree” that it is in their best interest to end the merger agreement as they are unlikely to receive regulatory approval before the deal is set to expire in February.
“With the termination of the merger agreement, we are now focused on the future of Capri and our three iconic luxury brands,” Capri chief executive Johh Idol said in a statement. on. “Looking ahead, I remain confident in Capri’s long-term growth potential for a number of reasons. “
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