Market Chatter: Tapestry Executive Admits it Could Raise Capri Prices After Merger

MT Newswires Live2024-09-11

Market Chatter: Tapestry Executive Admits it Could Raise Capri Prices After Merger

A Tapestry (TPR) executive conceded that the company has room to raise prices and lower discounts for Capri's (CPR) Michael Kors brand if the two companies merge, Reuters reported on Tuesday.

US regulators are attempting to block the $8.5 billion acquisition on anti-trust grounds.

During the court session, the Federal Trade Commission showed slides claiming the merger would lead to increased prices and decreased competition. One noted that Coach products on average cost $147 more than Michael Kords, Reuters reported.

In addition to Michael Kors, Capri also owns luxury brands Jimmy Choo and Versace, while Tapestry owns Coach, Kate Spade, and Stuart Weitzman.

Tapestry and Capri did not immediately reply to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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