The Federal Trade Commission argues that the merger of Tapestry, which owns brands like Coach and Kate Spade, will lead to higher prices in the accessible luxury market.
Michael Kors testified, stating the competition in the handbag market is vibrant, citing that his own brand has reached a point of 'brand fatigue' and that a merger would energize their offerings.
Senior investigative reporter Aaron Katersky remarked on the unusual focus of the court hearing, highlighting the specific details of a $279 Kate Spade tote associated with pop culture.
The FTC's position emphasizes consumer suffering due to higher prices if the merger proceeds, arguing the dominance Tapestry has in the accessible luxury segment.
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