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.

TPR pulls out of the merger with Capri, redirecting efforts toward expanding its business and enhancing shareholder value.

Now Capri is pressing forward with a revamp that will include store closures and a marketing push for its Michael Kors brand.