Financial Times on Nostr: American luxury deal’s collapse leaves Michael Kors in limbo ========== Michael ...
American luxury deal’s collapse leaves Michael Kors in limbo
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Michael Kors' $8.5 billion merger with Coach was scrapped due to antitrust regulator pushback; the deal was initially blocked by the FTC in April 2024; a federal judge froze the deal three weeks prior to cancellation; Michael Kors plans to close around 75 stores and renovate 150 others; the luxury market is facing economic slowdowns and decreased consumer spending.
#MichaelKors #Coach #Merger #Antitrust #LuxuryBrands #Retail #Economy #Ftc #StoreClosures #Renovation
https://www.ft.com/content/e8b3649a-d38d-4d26-a501-9d2d6e65aee0
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Michael Kors' $8.5 billion merger with Coach was scrapped due to antitrust regulator pushback; the deal was initially blocked by the FTC in April 2024; a federal judge froze the deal three weeks prior to cancellation; Michael Kors plans to close around 75 stores and renovate 150 others; the luxury market is facing economic slowdowns and decreased consumer spending.
#MichaelKors #Coach #Merger #Antitrust #LuxuryBrands #Retail #Economy #Ftc #StoreClosures #Renovation
https://www.ft.com/content/e8b3649a-d38d-4d26-a501-9d2d6e65aee0