Judge sides with FTC, blocking Kate Spade and Michael Kors merger

  • 📰 ABC
  • ⏱ Reading Time:
  • 15 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

Article News

115122219

Michael Kors testified the merger would have revitalized his brand.

In this Aug. 10, 2023, file photo, a pedestrian walks past a Michael Kors store in Chicago.A federal judge in New York on Thursday sided with the Federal Trade Commission, effectively blocking thebehind Coach and Kate Spade with the company that controls Michael Kors.

"In the Court’s view, the conclusion most consonant with the evidence is that handbag consumers do 'purchase brands.' To ignore the peculiar role of brands in the handbag market would be to ignore the commercial realities of the industry," Judge Jennifer Rochon wrote.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 471. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

FTC seeks to block Kate Spade, Michael Kors mergerThe FTC may block a planned merger between the luxury brands.
Source: ABC - 🏆 471. / 51 Read more »

FTC seeks to block Kate Spade, Michael Kors mergerThe Federal Trade Commission is asking a federal judge in New York to block the $8.5 billion merger of Tapestry, the company behind Coach, Kate Spade, and Capri, which controls Michael Kors.
Source: 6abc - 🏆 250. / 63 Read more »

Judge blocks Coach owner Tapestry's proposed acquisition of Michael Kors parent CapriThe owners of Coach and Michael Kors, Tapestry and Capri, saw their proposed merger blocked after the FTC sued to stop the deal.
Source: NBCLA - 🏆 319. / 59 Read more »

Judge blocks $8.5B merger of luxe brands Coach, Michael Kors in shock setbackThe companies argued the deal was needed to fight back against European players like Gucci, which are increasingly grabbing market share.
Source: nypost - 🏆 91. / 67 Read more »