The handbag wars have begun after the US sued to block the merger of Coach and Michael Kors

• The FTC announced a lawsuit that blocks a merger between luxury brands Tapestry and Capri.
• The FTC claims Tapestry's acquisition of Capri could make more affordable luxury bag options expensive.
• Tapestry and Capri argue the luxury handbag market is too saturated for that to happen.

The FTC is trying to stop a merger between brands Tapestry and Capri that would put labels Coach, Kate Spade, Michael Kors, Jimmy Choo, and Versace under one luxury house.