Tapestry and Capri Holdings Call Off Their $8.5 Billion Merger

Two of the United States’ more accessible luxury companies won’t be merging into one, it seems.

Tapestry, which owns Coach and Kate Spade, and Capri Holdings, which oversees Versace and Michael Kors, have called off their planned merger, The New York Times reported on Thursday. The $8.5 billion deal was announced last year, but the Federal Trade Commission sued to block the merger and a federal judge agreed with the federal agency last month.

Tapestry and Capri…