EU Regulators to Resolve on Tapestry Deal for Michael Kors Proprietor by Mid-April

EU antitrust regulators will determine by April 15 whether or not to clear Coach mother or father Tapestry’s $8.5 billion acquisition of Michael Kors proprietor Capri Holdings, based on a European Fee submitting.

Tapestry sought EU approval on Wednesday for the deal that will create an American vogue powerhouse to problem bigger European rivals corresponding to Paris-listed LVMH for an even bigger share of the worldwide luxurious market.

The European Union’s competitors enforcer can clear the take care of or with out situations after a preliminary assessment or open a four-month investigation if it has severe issues.

Capri’s manufacturers embody Versace and Jimmy Choo, whereas Tapestry owns Kate Spade and Stuart Weitzman.

By Foo Yun Chee; modifying by Milla Nissi

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Tapestry Forecasts Greater 2024 Revenue on China Demand, Robust Margins

Coach mother or father Tapestry raised its annual revenue forecast on Thursday, betting on full-price gross sales of its premium purses and satchels in addition to early indicators of a requirement restoration in key market China.