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Stock impact report

Michael Kors admits defeat by influencers and celebrities, claiming ‘brand fatigue' in $8.5 billion federal antitrust trial [Fortune]

Capri Holdings Limited Ordinary Shares (CPRI) 
Last capri holdings limited ordinary shares earnings: 2/5 06:30 am Check Earnings Report
Company Research Source: Fortune
in Manhattan as a Federal Trade Commission lawsuit filed in April that seeks to block Tapestry's $8.5 billion acquisition of Capri Holdings The deal, if approved, would place six major fashion brands under one company: Tapestry's Coach Kate Spade , and Stuart Weitzman ; and Capri's Versace Jimmy Choo , and Michael Kors . The FTC argues this deal would “eliminate direct head-to-head competition between Tapestry's and Capri's brands” and give Tapestry a “dominant share” of the accessible luxury handbag market—or bags made from quality leader and craftsmanship offered at a more affordable price. “With the goal to become a serial acquirer, Tapestry seeks to acquire Capri to further entrench its stronghold in the fashion industry,” Henry Liu, director of the FTC's Bureau of Competition, said in a statement . “This deal threatens to deprive consumers of the competition for affordable handbags, while hourly workers stand to lose the benefits of higher wages and more favorable workplace c Show less Read more
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