| In FTC Bid to Stop
Handbag Merger of Capri &
Tapestry Defense Trashes FTC
Expert in Closing
by
Matthew Russell Lee, Patreon Book
Substack
SDNY
COURTHOUSE,
Sept 30 – At Day 7 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
OK - now in last day of FTC
v Tapestry preliminary injunction hearing,
Tapestry witness is trashing FTC expert Dr
Smith's analysis, we're on it to Judge
Rochon's decision and beyond
Now in last day of preliminary injunction
hearing, Judge Rochan asks what an acquisition
by Tapestry could do for Michael Kors brand
that Capri has been unable to do
Defense testimony continues, about how
attempts by Capri to have the Michael Kors
brand recapture "brand heat" just haven't
worked. Judge: How would acquisition by
Tapestry do for Michael Kors what Capri can't?
Witness: Great question.
Judge: I try.
On Septmeber 23, Judge Rochon ordered: "The
Court previously ordered all transcripts for
the preliminary injunction hearing, which took
place from September 9 through September 17,
to be filed temporarily under seal. The Court
now orders that the transcripts from the
hearing are to be UNSEALED, with the exception
of the following lines, which are to be
REDACTED in the public versions of the
transcripts and maintained under seal: As
further set forth in this Order. The lines
that the Court has ordered must remain under
seal contain either confidential information
of third-parties and commercially sensitive
information or references to certain witness's
private health information (which is not at
issue in this case), thereby overcoming any
presumption of public access. SO ORDERED
(Signed by Judge Jennifer L. Rochon on
9/23/2024) Full order on Patreon here.
Inner City Press
live tweeted closings, in
which the defense focused on
trashing the FTC's expert, on
X for Subscribers here
- and then:
FTC lawyer: We
don't dispute there is
competition. But is there
competition which constrains
participants in the market?
They say we should define the
market by product. But
Tapestry's CEO said, Brand
matters. Dr Smith's surveys
ask the right questions...
FTC lawyer:
Doctor Smith conservatively
looked at 200 brands... They
dominate the market. Thank
you. Judge: How do you address
defendants' argument that
Doctor Smith's model always
turns out the same? FTC
lawyer: We don't want to
ignore the market
reality.
Judge: Anything
further? No. I will take the
matter under advisement.
Sept 30 Extra on
Substack here
[Inner City Press
will be on alert for the
docket]
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)
***
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