Tapestry-Capri $8.5B Merger Faces Critical Antitrust Hearing
FTC challenges deal, claiming it would stifle competition in the accessible luxury handbag market, affecting middle-class shoppers.
- The $8.5 billion merger between Tapestry Inc. and Capri Holdings is facing a crucial federal hearing that could determine its future.
- Capri CEO John Idol testified that the deal is essential to revitalizing the struggling Michael Kors brand.
- The Federal Trade Commission argues that the merger would harm competition in the accessible luxury handbag market, impacting middle-class consumers.
- Investors are closely watching the case, with Capri shares rising 5.1% amid the proceedings.
- The outcome of the hearing could set a precedent for antitrust enforcement in the fashion industry.
WWD 