A U.S. District judge has halted the merger between the makers of Coach and Michael Kors handbags, saying it would reduce competition and hurt consumers.In her ruling Thursday, U.S. District Judge Jennifer Rochon noted that Tapestry Inc. and Capri Holdings are 'close competitors' and that the merger would result in 'the loss of head-to-head competition' and raise prices for shoppers.The decision followed seven days of testimony.
The FTC has said that they continuously monitor each other's handbag brands to determine pricing and performance, and they each use that information to make strategic decisions, including whether to raise or reduce handbag prices.Tapestry said in an emailed statement to The Associated Press on Thursday that the decision granting the FTC's request for a preliminary injunction was 'disappointing' and 'incorrect on the law and the facts.
हमने इस समाचार को संक्षेप में प्रस्तुत किया है ताकि आप इसे तुरंत पढ़ सकें। यदि आप समाचार में रुचि रखते हैं, तो आप पूरा पाठ यहां पढ़ सकते हैं। और पढो:
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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.
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Makers of Coach and Michael Kors handbags blocked from merger in antitrust caseMerger between luxury handbag makers would reduce competition and hurt consumers, U.S. District judge says.
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Judge sides with FTC, blocking Kate Spade and Michael Kors mergerMichael Kors testified the merger would have revitalized his brand.
स्रोत: ABC - 🏆 471. / 51 और पढो »
FTC seeks to block Kate Spade, Michael Kors mergerThe FTC may block a planned merger between the luxury brands.
स्रोत: ABC - 🏆 471. / 51 और पढो »
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.
स्रोत: 6abc - 🏆 250. / 63 और पढो »
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.
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