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Before the merger announcement, Tapestry’s market value was more than double that of Capri. Currently, Tapestry’s market value is over five times larger.

Since the acquisition agreement was reached, Capri’s performance and stock price have remained sluggish, and the gap with Tapestry has gradually widened.

During the reporting period, the group also initiated a stock buyback plan, repurchasing approximately 5.7 million common shares for approximately $300 million in the open market.