Recently, Capri Holdings Limited has been in the news due to a lawsuit filed by the Federal Trade Commission (FTC) aimed at blocking its proposed merger with Tapestry, the parent company of Coach and Kate Spade. The FTC argues that the merger would significantly reduce competition in the luxury fashion market, potentially leading to higher prices and fewer choices for consumers. This legal challenge highlights ongoing concerns about consolidation in the retail sector and its impact on consumer welfare.
Capri Holdings Limited, originally founded as Michael Kors Holdings Limited in 1981, is a multinational fashion holding company based in the British Virgin Islands, with executive offices in London and operational offices in New York. The company owns several high-profile luxury brands, including Michael Kors, Versace, and Jimmy Choo. Capri has positioned itself as a key player in the global fashion industry, focusing on accessible luxury and lifestyle products. The rebranding to Capri Holdings in 2019 marked a strategic shift to reflect its diverse portfolio beyond the Michael Kors brand.