Fashion

Tapestry, which owns Coach, Kate Spade and Stuart Weitzman, announced its intention to acquire Capri, the owner of brands like Michael Kors, Versace and Jimmy Choo, in August of last year. But a legal challenge from the FTC, led by chair Lina Khan, put up barriers to the acquisition. This month, the acquisition was officially blocked according to a court ruling, and on Thursday, Tapestry formally announced the termination of the deal.