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Michael Kors Highlights Handbag Market Diversity in FTC Hearing

Michael Kors testified about the nature of the competitive landscape of the handbag market, as the FTC scrutinises Tapestry’s $8.5 billion acquisition of Capri Holdings.
Michael Kors Autumn/Winter 2023.
Kors was on the witness stand Monday in the second week of a hearing that will decide the fate of the planned $8.5 billion acquisition. (Spotlight/Launchmetrics.com)

Fashion designer Michael Kors told a federal judge that competition in the handbag market is so robust and varied that he first learned about one brand only when he saw a photo of a bag on Taylor Swift’s arm.

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Further Reading

The Coach-Michael Kors Deal Has Its Day in Court

Hours before its runway show during New York Fashion Week on Monday, Coach’s parent company, Tapestry, faced off with the FTC to prove its $8 billion acquisition of Michael Kors’ owner Capri isn’t anti-competitive.

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