Extras: FTC Bid to Stop Handbag Merger of Capri & Tapestry Day 5 Has Defense Editor then Sealing

More on X for Subscribers here and below the paywall / subscribe (support) line here

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, 9/13 – At Day 5 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
Tapestry witness is asked if "influencers" with handbags is pay to play. "Certainly with the Kardashians," she says.

FTC lawyer: You wrote that [FTC expert] Dr. Smith was using data wrong - you wrote that, right? Tapestry witness Karen Giberson: I did. FTC lawyer: So there's no support for your statement? Giberson: Correct but...

Redirect: Tapestry lawyer: Ms. Giberson, are you here to curry favor with the [merging] firms? Giberson: I am not. Tapestry lawyer: Has anyone expressed concern to you about this deal? Giberson: No. Tapestry: No further questions

 Next Tapestry witness is chief of supply chain Peter Charles. Charles: I am also in charge of our ESG initiative. We are driven by values, planet & community. Judge: Remind me of what ESG is. Charles: Environmental, Social, Governance

Judge: Where do you source from? Tapestry's Peter Charles: Southeast Asia, and Bangladesh..  Judge: Why did you start to migrate from China? Charles: Diversification. We had 90% in China, it was risky.

Q: As you aware of any luxury brands that manufacture in China? Tapesty's Charles: Prada, Alexander Wang, others... Now FTC cross FTC: Ms. Crevoiserat emailed you about supply chain issues - and this, designated confidential

Now cross by FTC FTC: In your job, you don't assess conditions of entry into the US market? Charles: I do not

Tapestry lawyer: The courtroom will have to be sealed for the next witnesses

More on X for Subscribers here and below the paywall / subscribe (support) line here