From CNBC: 2024-09-16 15:36:09

Fashion designer Michael Kors testified in an antitrust trial as the FTC seeks to block Tapestry’s $8.5 billion acquisition of Capri, which would combine six fashion brands. Kors admits brand fatigue and falling out of favor. The trial questions the impact on market competition and comes amid consumer price sensitivity, with Capri’s stock falling 24% this year. Former Macy’s CEO Gennette testified on sales impact when brands lose shine. Trial expected to conclude with economist testimonies.



Read more at CNBC: Tapestry-Capri antitrust trial: Michael Kors testifies