The European and Japanese authorities have approved the merger agreement between Tapestry and Capri Holdings. The deal, valued at $8.5 billion, would bring together iconic brands such as Coach, Versace and Jimmy Choo under one roof. While this promising news paves the way for increased competition in the luxury goods market, it also raises concerns, particularly among investors.
The proposed merger between luxury giants Tapestry and Capri Holdings has reached a crucial milestone with the approval of market regulators in Japan and the European Union.
On Monday April 15, Tapestry confirmed that the merger agreement had been given the green light by the European Commission under the EU Merger Regulation, and by Japan’s Fair Trade Commission under the Antimonopoly Act. These approvals were granted unconditionally, bringing the two companies closer to their common goal.
With the European and Japanese approvals confirmed, attention now turns to the USA, where final antitrust clearance is still pending. On the other side of the Atlantic, the Federal Trade Commission (FTC) had requested additional information on the proposed merger in November, prolonging the process.
A major agreement in the world of luxury goods
The $8.5 billion deal, announced last August, concerns the acquisition by Tapestry, parent company of Coach, Kate Spade and Stuart Weitzman, of its competitor Capri Holdings Limited. The latter owns luxury brands Michael Kors, Versace and Jimmy Choo.
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Featured photo : © Michael Kors
