Tapestry, a US conglomerate of luxury fashion brands, has officially terminated its merger agreement with Capri Holdings, owner of Versace, Jimmy Choo and Michael Kors. This decision to abandon the merger plans comes after a US district judge Jennifer Rochon stalled the prospective $8.

Tapestry, the owner of Coach, said it would abandon its $8.5 billion deal to buy Capri, the parent company of Michael Kors, after the Federal Trade Commission successfully sued to stop the transaction.

For Tapestry, which gets 76% of its revenue from Coach, a mature brand, the goal of the merger was to find new sources of growth. For Capri, Tapestry's strong data, marketing and real estate capabilities, would have potentially helped Michael Kors, Versace and Jimmy Choo end their long-time slumps.