US Watchdog Sues to Block $8.5bn Handbag Takeover
BBC | 4/22 | Mariko OiThe US competition watchdog has sued to block fashion accessory giant Tapestry’s $8.5bn (£6.9bn) takeover of rival Capri.
Tapestry owns handbag makers including Coach and Kate Spade, while Capri’s brands include Michael Kors.
The US Federal Trade Commission (FTC) said if allowed, “the deal would eliminate direct head-to-head competition between Tapestry’s and Capri’s brands”.
In response Tapestry said “the FTC fundamentally misunderstands both the marketplace and the way in which consumers shop”.
And to shop they need the right purse.
I’m always torn on these. On the one hand, I don’t like giant corporations owning all the brands. In the other hand, all my wife’s purses.