The Federal Trade Commission (FTC) is working to prevent a significant $8.5 billion merger in the fashion industry, which would combine several well-known brands under one umbrella. Among those called to testify is designer Michael Kors, who recently unveiled his latest collection at New York Fashion Week to a star-studded audience, including Vogue’s Anna Wintour.
The proposed merger involves Tapestry, the parent company of Coach, Kate Spade, and Stuart Weitzman, and Capri Holdings, which owns Michael Kors, Versace, and Jimmy Choo. Tapestry announced plans to acquire Capri last year, as many fashion brands faced declining sales following the pandemic-driven shopping boom.
However, the deal has been in limbo since the FTC filed a lawsuit to block the merger five months ago. The ongoing trial in Manhattan will determine whether the acquisition can proceed as intended.
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