Extra: In FTC Bid to Stop Handbag Merger of Capri & Tapestry Defense Trashes FTC Expert in Closing

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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.

[Inner City Press will be on alert for the docket]

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