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.
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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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