EU regulators to decide on Tapestry deal for Michael Kors owner by mid-April

By Thomson Reuters Mar 8, 2024 | 3:20 AM

BRUSSELS (Reuters) – EU antitrust regulators will decide by April 15 whether to clear Coach parent Tapestry’s $8.5 billion acquisition of Michael Kors owner Capri Holdings, according to a European Commission filing.

Tapestry sought EU approval on Wednesday for the deal that would create an American fashion powerhouse to challenge larger European rivals such as Paris-listed LVMH for a bigger share of the global luxury market.

The European Union’s competition enforcer can clear the deal with or without conditions after a preliminary review or open a four-month investigation if it has serious concerns.

Capri’s brands include Versace and Jimmy Choo, while Tapestry owns Kate Spade and Stuart Weitzman.

(Reporting by Foo Yun Chee; editing by Milla Nissi)