The FTC is suing to block Tapestry Inc.'s $8.5 billion acquisition of Capri Holdings, which owns Michael Kors, citing concerns of stifling competition in the affordable luxury handbag market and impacting employee wages. The case is set for a court conference in Manhattan.
💡 TIMESTAMPED SUMMARY OF YESTERDAY'S SPACES 🔹 FTC Scrutiny and Job Market Dynamics 00 : 08 : 40 Discussion of the challenges Tapestry and Capri Holdings face, particularly at Michael Kors and Versace, is highlighted. The shareholder vote for the merger was approved on… https://t.co/TWrWbqwpuO
The FTC and lawyers for Coach parent Tapestry are set to meet in Manhattan federal court for a case management conference in the agency’s bid to block the company’s $8.5 billion deal to buy Michael Kors owner Capri. Subscribe to The Daily Docket: https://t.co/s1z0JFig0G https://t.co/U1POgUEFJo
Is 'accessible luxury' a viable market definition for the FTC to prove that the $8.5 billion merger of Tapestry, which owns the Coach and Kate Spade brands, and Capri, which owns Michael Kors, is anti-competitive? Read @JGreeneJenna's column https://t.co/JDQm98lrwi https://t.co/q8YdA3T2DG
🚨FTC SUES TO BLOCK COACH AND MICHAEL KORS MERGER The FTC is suing to prevent Tapestry Inc.'s $8.5 billion acquisition of Capri Holdings. The agency argues that the deal would stifle competition in the affordable luxury handbag market and harm employee wages and benefits. The… https://t.co/TiE1JrLv5p
This $CPRI $TPR FTC gets more insane the more I think about it. Surely $TPR is just going to line up all the - many hundreds - of similarly-priced handbags (that obviously compete) - and say 'look most of them are not 'accessible luxury', therefore your market definition is…