Fashion brand coach and Michael Core 12 trillion won merger failed

Tapestry, the parent company of the U.S. fashion brand Coach, failed to acquire Capri Holdings, which has Michael Kors, for $8.5 billion and 11.7 trillion won in Korean money.

U.S. Judge Jennifer Rosson of the Southern Federal Court in New York ruled in favor of the Federal Trade Commission in a lawsuit filed by the Federal Trade Commission to block Tapestry's acquisition of Capri.

Earlier in April, the Federal Trade Commission sued to block the merger, saying the merger between the two companies would hamper competition in the high-end handbag market, which is relatively less expensive than ultra-high-end luxury handbags.

Tapestry and Capri, on the other hand, have argued that they operate in highly competitive market conditions and need a merger to compete with European luxury brands, but it has not been accepted.

Tapestry has major brands such as Kate Spade and Stuart Witzman in addition to coaches, while Capri has major brands such as Michael Kors and Versace and Jimmy Choo.