| FTC Bid to Stop Handbag
Merger of Capri & Tapestry Day
2 Has Parade of Execs and Emails
by
Matthew Russell Lee, Patreon Book
Substack
SDNY
COURTHOUSE,
Sept 9 – At Day 2 of the hearing
on the US Federal Trade
Commission's bid to enjoin the
merger of Tapestry and Capri
started up before U.S. District
Court for the Southern District
of New York Judge Jennifer L.
Rochon, Inner City Press was
there, from the thread here,
more on X for Subscribers here
and Substack here
Coach CEO Joanne C. Crevoiserat:
Sunrise was our M&A strategy overall.
FTC lawyer: In this memo, you wrote about
Coach's supply chain innovation "creating the
accessible luxury market," right?
Crevoiserat: We don't own our supply chain but
it set up apart
Tapestry lawyer Alfred Pfeiffer: Tell us how
Tapestry would help the Capri brands if this
merger is allowed to go through.
Crevoiserat: Tapestry provides opportunities
that all brands can leverage. Consumers are
moving so fast today. We've done ethnographic
work
Tapestry lawyer Pfeiffer: What is "Comet"?
Coach CEO Crevoiserat: It's the code name we
gave Capri. Pfeiffer: This says Comet's brands
target different "emotional territories" than
our brands... [Crevoiserat lifts up a handbag,
and jokes, I can sell some today]
Coach's CEO Crevoiserat: We see competition
everywhere
Now on the stand, Liz Harris of Tapestry. FTC
lawyer: Your counsel has labeled much of this
confidential, so I'll tread lightly. Versace's
consumers are luxury consumers, correct?
Harris: Yes, that's correct.
Right at 5 pm, FTV . Tapestry
ends for the day, with talk of the next
witnesses --
More on X for
Subscribers here
and Substack here
The case is
Federal Trade Commission v.
Tapestry, Inc. et al.,
1:24-cv-3109 (Rochon)
***
Your
support means a lot. As little as $5 a month
helps keep us going and grants you access to
exclusive bonus material on our Patreon
page. Click
here to become a patron.
Feedback:
Editorial [at] innercitypress.com
SDNY Press Room
500 Pearl Street, NY NY 10007 USA
Mail: Box 130222, Chinatown Station,
NY NY 10013
Reporter's mobile (and weekends):
718-716-3540
Other, earlier Inner City Press are
listed here,
and some are available in the ProQuest
service, and now on Lexis-Nexis.
Copyright 2006-2024 Inner City
Press, Inc. To request reprint or other
permission, e-contact Editorial [at]
innercitypress.com
|
,
