Regulators in Japan and the EU have approved the merger between Tapestry and Capri Holdings, bringing them closer to completion. The US remains the final approval hurdle. Tapestry, parent company of Coach, Kate Spade, and Stuart Weitzman, announced the acquisition of Capri Holdings last August for approximately $8.5 billion. Capri Holdings, owner of Michael Kors, Versace, and Jimmy Choo, sees the merger as forming a global luxury conglomerate. CEO Joanne Crevoiserat believes the consolidation will create value for consumers, employees, communities, and shareholders worldwide.