The Federal Trade Commission (FTC) has secured a significant legal victory by obtaining a preliminary injunction that halts the proposed $8.5 billion merger between Tapestry, the parent company of Coach, and Capri Holdings, which owns Michael Kors. This ruling, issued by the Southern District of New York, pauses the merger amid concerns regarding its impact on competition within the luxury handbag market. Legal experts note that such a major merger rarely gets a second chance if it fails to proceed, indicating a challenging outlook for Capri Holdings moving forward. The ruling, however, does not fully endorse the FTC's broader attempts to reshape merger law, leaving some aspects of the case open to interpretation.