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The federal judge overseeing the FTC's case to block Tapestry’s $8.5 billion takeover of rival Capri will allow the antitrust enforcers to use the “accessible luxury” market https://t.co/MxEgGWrJAk
The federal judge overseeing the FTC's case to block Tapestry’s $8.5 billion takeover of rival Capri will allow the antitrust enforcers to use the “accessible luxury” market https://t.co/SvVH0t5vaa
The federal judge overseeing the FTC's case to block Tapestry’s $8.5 billion takeover of rival Capri will allow the antitrust enforcers to use the “accessible luxury” market https://t.co/pHhBjaqzzQ
Tapestry, the parent company of Coach, reported third-quarter revenue below Wall Street expectations, signaling a decline in demand for its handbags and accessories. Despite this, Tapestry's stock fell after an earnings beat. Concurrently, the Federal Trade Commission (FTC) is attempting to block Tapestry's proposed $8.5 billion acquisition of rival Capri, citing concerns over competition in the 'accessible luxury' market. A federal judge has allowed the FTC to use this market definition in their case, as the FTC moves to maintain competition.