Tapestry is the parent company of Coach, specializing in luxury fashion and accessories. The company operates with various luxury brands and has a global presence. The FTC is challenging Tapestry's proposed acquisition of Capri, owner of Michael Kors and other luxury brands, citing concerns over the elimination of direct competition between the two companies, potential effects on employees' wages and benefits, and the broader impact on consumer choice and market competition.

The Federal Trade Commission has sued to block Tapestry's $8.5 billion acquisition of Capri Holdings, which would combine competitors Coach, Kate Spade, and Michael Kors and develop a dominant share of the accessible luxury handbag sector.

Reuters: US sues to block merger of Coach and Michael Kors handbag makers