News Formal

FTC sues to block luxury fashion merger of Tapestry and Capri Holdings

  • 📰 washingtonpost
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 72%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Federal regulators claim the union would lead to higher prices for U.S. consumers and worsen workplace conditions for employees

A Michael Kors show in Manhattan earlier this year. A proposed merger would combine the brand with such U.S. luxury brands as Coach and Kate Spade. to block the $8.5 billion merger of luxury fashion conglomerates Tapestry and Capri Holdings, a union that regulators say would lead to higher prices for U.S. consumers.

“We have full confidence in the merits and pro-competitive nature of this transaction,” the statement said. “It will bring significant benefits to the combined company’s customers, employees, partners, and shareholders in the U.S. and around the world.”Tapestry to broaden its global reach and usher the company into a higher-end segment of the fashion industry.

“There’s a general concern of merged companies being able to raise prices,” Lada said. If the answer is yes, then the FTC has to consider if consumers will have a “reasonable substitute” if they aren’t able or willing to pay the higher price.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 95. in BE
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

FTC sues to block Coach parent Tapestry's acquisition of Capri HoldingsThe U.S. Federal Trade Commission on Monday sued to block the $8.5 billion acquisition of Capri Holdings by Coach and Kate Spade’s parent company,…
La source: NBCDFW - 🏆 288. / 63 Lire la suite »

Federal Trade Commission sues to block Tapestry's $8.5B acquisition of CapriThe Federal Trade Commission sued to block Tapestry, Inc.’s $8.5 billion acquisition of Capri Holdings Ltd., saying that the deal would eliminate direct head-to-head competition between the fashion companies’ brands like Coach and Michael Kors in the so-called affordable luxury handbag arena.
La source: AP - 🏆 728. / 51 Lire la suite »

Tapestry merger with Versace owner Capri gets EU, Japan approvalTapestry merger with Versace owner Capri gets EU, Japan approval
La source: Investingcom - 🏆 450. / 53 Lire la suite »