US FTC's bid to block Tapestry-Capri merger goes to trial
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The U.S. Federal Trade Commission (FTC) will start a trial to block Tapestry's $8.5 billion merger with Capri Holdings, arguing it would harm competition in the 'accessible luxury' handbag market. The FTC claims the merger would eliminate direct competition between Tapestry's Coach and Kate Spade brands and Capri's Michael Kors brand, negatively affecting prices and consumer choices. Tapestry disputes this, stating the handbag market is competitive and fragmented. The trial, overseen by Judge Jennifer Rochon, is expected to last a week and a half.
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