The Handbag Wars! - Has The FTC Lost Control?

Lina Khan's Federal Trade Commission is suing to block Tapestry's $8.5 billion acquisition of Capri Holdings, saying the deal would harm consumers by reducing competition and raising prices in the affordable luxury handbag sector.

Monday's lawsuit challenges the proposed deal that would have Tapestry controlling Coach, Kate Spade, Stuart Weitzman, Michael Kors, Versace and Jimmy Choo.

According to the FTC, the acquisition could have a negative impact on the millions of American shoppers who now benefit from the head-to-head rivalry between Tapestry and Capri, as well as on the roughly 33,000 workers employed by both companies worldwide.

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[rockotyson]

Thank you Patrick for being one of the most trusted news sources in fashion.

[kolonarulez]

As a member of your 2% female audience the comparison of handbags to crypto was hilarious and very true! Glad to be here!

[gordongekko]

When you COULD NOT CARE LESS about the topic, but you click on the link anyway because the content creator is so darn good.

[tundescope]

🤣🤣🤣I like what you did with 'The Devil Wears Prada'.

[Ratgibbon]

Expanding from the rap business to women handbangs, now that's what I call diversification. Patrick broke new ground with this, very cool!

[carlobasilone]

That interplay with the scene from "The Devil wears Prada" was brilliant, and I don't mean the learning website.

[storminnordman]

The FTC is doing great. The only reason why big businesses are upset at the FTC is because they’re actually trying to do their job of protecting workers and consumers.

[oisinquinn]

Patrick interacting with movies. Another comedic addition.

[BoldBrandFlakes]

As a guy I think the best comparison for handbags are watches. To some women or those not interested in the field, it might look the same for them as well. Same with handbags, some have better labor quality in it or something unique with it to differentiate it.

This FTC case is a head scratcher, the affordable handbag industry will just have consumers switch to something else rather than paying a higher price. Wouldn’t be surprised if it turns into another loss.

More focus needs to be put into consumer rights in the ever growing digital media space with music, video games, computer software, forced subscriptions to something like a printer, etc.

[MrRanger]

Patrick is on a roll with these videos lately! The edits with the Blue Sweater were excellent 😂

[iamfuckingyourwaifuandther]

As a male, not all handbags are the same. Some handbags will fit movie theater snacks, and some won't.

[PXAbstraction]

On the subject of not being able to block any mergers through litigation, while that's factually true, I don't think it necessarily tells the whole story. Several of these actions (Activision-Blizzard comes to mind as I followed that closely), while not resulting in a blocking of the merger, did end up resulting in concessions being offered to allay some of the FTC's concerns. These legal actions can often still have positive benefits, and many argue they're brought by the FTC with no intention to actually win (because they know they won't), but rather to get these concessions and get more benefit for consumers than they would otherwise get if they took no action at all. Arguable how effective they are, but it's food for thought.

[kayleycoons]

Lol as a part of the 1.7%, I appreciate the subject matter :)

[iOSAT]

Observing luxury retail trends is absolutely fascinating.

And yeah, we all have our “things” my wife couldn’t pick my 911 Turbo S out of a lineup, but could identify every well known handbag a mile away.

[jacklam]

LVMH should be the one that got sued for anti-trust. Most brands in a luxury mall are owned by either LVMH or Kering. The ultimate illusion of choice.

[bigbear]

As a 2% member this is quality content. I’m also a former handbag designer and brand builder. Choice and creativity seems to have taken a back seat to corporate conglomerates. Not a fan of where handbag markets have gone. Snake eating tail. This won’t go well if buyers are looking for creative solutions and designs. SMH.

[khamronboothe]

Going after Ticketmaster was great tho.

[kcgunesq]

Now when it comes to eye wear, such as frames for prescription glasses or even quality sunglasses, the FTC seems completely unbothered that 80 some percent of that market is owned by one company.

[jwillsher]

No, I will not click away. This part of a larger issue about competition in markets. I am interested.

[nietur]

"accessible luxury" is a funny concept