Biden's FTC Blocks $8.5 Billion Deal Between Michael Kors & Coach As Central Planners Target Fashion [zero hedge]
Capri Holdings Limited Ordinary Shares (CPRI)
Last capri holdings limited ordinary shares earnings: 2/5 06:30 am
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Source: zero hedge
Biden's FTC Blocks $8.5 Billion Deal Between Michael Kors & Coach As Central Planners Target Fashion President Joe Biden's antitrust enforcement has been on a deal-blocking crusade ahead of the presidential elections in November. On Monday, the Federal Trade Commission targeted the fashion industry for the first time. It sued to block Tapestry's $8.5 billion acquisition of Capri Holdings, a deal that would combine Tapestry's Coach and Kate Spade brands with Capri's Michael Kors brand. "If allowed, the deal would eliminate direct head-to-head competition between Tapestry's and Capri's brands. It would also give Tapestry a dominant share of the "accessible luxury" handbag market, a term coined by Tapestry to describe quality leather and craftsmanship handbags at an affordable price," FTC wrote in a statement. The Biden administration is oddly concerned about luxury handbags at a time when inflation is reaccelerating and continues to decimate households nationwide. Many folks are plagued
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CPRI
Earnings
- 2/8/24 - Miss
CPRI
Sec Filings
- 4/22/24 - Form 8-K
- 4/15/24 - Form 8-K
- 2/13/24 - Form SC
- CPRI's page on the SEC website