FTC Sues to Block Tapestry Inc.'s Acquisition of Capri Holdings [Yahoo! Finance]
Tapestry, Inc. (TPR)
Last tapestry, inc. earnings: 4/30 06:45 am
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Source: Yahoo! Finance
an administrative complaint and authorized a lawsuit in federal court to block Tapestry Inc .'s $8.5 billion acquisition of Capri Holdings Limited First announced last August , the deal would create the first major U.S.-based fashion conglomerate, one that could emerge as a stateside competitor to European luxury groups like LVMH: Coach Stuart Weitzman and Kate Spade — all presently owned by Tapestry — would merge with with Capri's portfolio consisting of Michael Kors Jimmy Choo and Versace The FTC is taking issue with the fact that the acquisition would eliminate competition between these brands, giving Tapestry "a dominant share of the 'accessible luxury' handbag market," according to a press release . This is where the two companies "most vigorously compete against one another, mainly between Tapestry's Coach and Kate Spade brands against Capri's Michael Kors brand." The FTC argues that the deal could lead to higher prices and make it harder for new brands to enter the market;
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News
- Earnings Preview: Tapestry (TPR) Q3 Earnings Expected to Decline [Yahoo! Finance]Yahoo! Finance
- Week in Review: Can fashion put the eco back into economics? [Yahoo! Finance]Yahoo! Finance
- Style and Sustainability in Every Stitch at Tapestry [Yahoo! Finance]Yahoo! Finance
- Tapestry Fights On Two Legal Battlefronts Against The FTC And Gap/Old Navy [Forbes]Forbes
- Tapestry, Inc. to Host FY24 Third Quarter Earnings CallBusiness Wire
TPR
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- 2/8/24 - Miss
TPR
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- 4/22/24 - Form 8-K
- 4/15/24 - Form 4
- 4/15/24 - Form 8-K
- TPR's page on the SEC website