The US Federal Trade Commission has sued to block fashion accessory giant Tapestry's $8.5 billion takeover of rival Capri, citing concerns about eliminating competition between their brands. Tapestry owns Coach and Kate Spade, while Capri owns Michael Kors, with both companies employing about 33,000 staff globally. The FTC argues the deal could reduce wages and benefits, while Tapestry believes the regulator misunderstands consumer shopping habits. Capri, which owns Versace and Jimmy Choo, contends that the deal won't harm competition in the luxury industry, which is valued at $200 billion globally.
Capri Holdings Limited (formerly Michael Kors Holdings Limited) is a multinational fashion holding company, incorporated in the British Virgin Islands, with executive offices in London and operational offices in New York. It was founded in 1981 by American designer Michael Kors. The company sells clothes, shoes, watches, handbags, and other accessories. In 2015, the company had more than 550 stores and over 1,500 in-store boutiques in various countries.Capri is the parent company of Kors' eponymous brand, as well as Versace and Jimmy Choo. Capri is presently undergoing an acquisition by Tapestry, owner of Coach New York and Kate Spade, which if approved by regulators, would buy Capri for $8.5 billion.
The Federal Trade Commission and nine state attorneys general are suing to prevent the $24.6 billion merger of Kroger and Albertsons, the two largest supermarket chains in the U.S. The FTC argues that the merger would lead to higher prices, lower-quality products, and reduced competition. Kroger and Albertsons, which employ around 720,000 people, presented the merger as a way to better compete with other major retailers. The deal faces opposition from various parties, including unions and state officials, concerned about its impact on consumers and workers.
Tapestry, Inc. is an American multinational luxury fashion holding company. It is based in New York City and is the parent company of three major brands: Coach New York, Kate Spade New York and Stuart Weitzman. Originally named Coach, Inc., the business changed its name to Tapestry on October 31, 2017.
Meta is requesting a federal court to dismiss the Federal Trade Commissions anti-monopoly lawsuit, arguing that the FTC has not provided evidence to support its claims. The FTC sued Meta in 2020 alongside 48 states and territories, aiming to make the company divest Instagram and WhatsApp. Meta asserts that the FTC's market definition is unreasonably narrow, excluding services like YouTube and TikTok. The company argues that it has invested significantly in Instagram and WhatsApp, benefiting consumers and businesses. Meta warns that the FTC's challenge to its mergers could stifle innovation in the future.
Lina M. Khan (born March 3, 1989) is a British-born American legal scholar serving as chairwoman of the Federal Trade Commission (FTC) since 2021. She is also an associate professor of law at Columbia Law School.While a student at Yale Law School, she became known for her work in antitrust and competition law in the United States after publishing the influential essay "Amazon's Antitrust Paradox".She was nominated by President Joe Biden to the Commission in March 2021, and has served since June 2021 following her confirmation. During her tenure as chairwoman, the FTC has pushed to ban non-compete agreements, filed lawsuits against health care companies engaging in anti-competitive practices, and launched a high-profile lawsuit against Amazon. In 2022, the FTC and the DOJ's anti-trust division blocked a record number of mergers on anti-trust grounds.
Kate Spade & Company, initially known as Liz Claiborne Inc. (founded in 1976 in Manhattan), and then as Fifth & Pacific Companies, Inc. (from 2012 to 2014), is a fashion company that designs and markets a range of women's and men's apparel, accessories and fragrance products under the Kate Spade New York and Jack Spade labels. The company is owned by Tapestry, Inc.
FALL 2024 READY-TO-WEAR By Nicole Phelps The Versace set was tricked out in black shag carpet and a white Escher staircase. If it wasnt Milans biggest show, it felt like it, with models doing a giant figure eight through the crowd. With Tapestrys acquisition of Versaces parent company Capri not yet official, the company is in a liminal state, but this was Donatella Versaces most definitive Milan show in a while: confident and powerful. At a press conference yesterday, Versace was talking about rebel girls and shy genius boys. Siouxsie Sioux, who was on the soundtrack, was a stand-in muse for the former, and for the latter she referred to her late friend Prince, whose Versace-made jacket, fitted through the waist with wide shoulders and designed to make him look taller than his 52 frame, was a template for the tailoring here.
Kate Spade New York is an American luxury fashion house founded in January 1993 by Kate and Andy Spade. In 2017, the company was purchased by Tapestry, Inc., formerly known as Coach, Inc.
The Federal Trade Commission (FTC) filed a complaint against H&R Block, alleging deceptive marketing of its tax-filing software as free and pressuring customers to upgrade to paid products. H&R Block sued the FTC, challenging the use of internal administrative law judges. The FTC accuses H&R Block of misleading ads and changing definitions of free services. Intuit, maker of TurboTax, faced similar FTC claims and paid $141 million in 2022. The FTC's actions against Intuit and H&R Block highlight deceptive practices in the tax software industry.
Michael David Kors (born Karl Anderson Jr. August 9, 1959) is an American fashion designer. He is the chief creative officer of his brand, Michael Kors, which sells men's and women's ready-to-wear, accessories, watches, jewelry, footwear, and fragrance. Kors was the first women's ready-to-wear designer for the French house Celine, from 1997 to 2003. On January 2, 2019, Michael Kors Holdings Limited officially changed its name to Capri Holdings Limited (NYSE: CPRI). Michael Kors, Jimmy Choo, and Versace are the three founder-led brands under Capri Holdings Limited.
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