In federal trial, Michael Kors says it's harder to sell handbags in TikTok and Taylor Swift era
Publishing timestamp: 2024-09-16 19:36:09
Summary
Michael Kors testifies in antitrust trial regarding Tapestry's acquisition of Capri, discussing challenges in staying relevant in the fashion industry. FTC argues that the deal would create a bag behemoth with power to hike prices, while Tapestry and Capri question the depiction of the consolidated handbag market. Trial expected to conclude on Tuesday.
Sentiment: MIXED
Keywords: breaking news: business, business news, macy's inc, capri holdings ltd, tapestry inc, business, s&p 500 index, retail industry,
Source: https://www.cnbc.com/2024/09/16/tapestry-capri-antitrust-trial-michael-kors-testifies.html