A US judge moved on Oct 24 to block a merger of the fashion companies that own the Coach, Kate Spade, Michael Kors and Versace brands, ruling that the tie-up would "substantially lessen competition" among makers of accessible luxury handbags.
The Federal Trade Commission (FTC) sued to block the US$8.5 billion (S$11.2 billion) deal in the spring. The case was a rarity in the fashion world, given how competitive the industry is and the relatively low barriers to enter.
Judge Jennifer Rochon seemed to accept the trade commission's argument that millions of consumers could end up paying more for handbags and other fashion items because the combined company would no longer have the incentive to compete on price.
"Antitrust has come into fashion," Judge Rochon wrote in her ruling.
Denne historien er fra October 26, 2024-utgaven av The Straits Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 26, 2024-utgaven av The Straits Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
NO SNOW, BUT SANTA'S STILL AT WORK
With a month to go until Christmas, Santa Claus is busy preparing, but he is worried about the warming climate and lack of snow in his Arctic home town.
My Chemical Romance ex-drummer Bob Bryar was active in dog rescue
Bob Bryar, the former drummer of pop-punk band My Chemical Romance, who was with the group from 2004 to 2010, has died at the age of 44.
Lady Gaga to hold free gig at Rio's Copacabana Beach: Sources
Pop star Lady Gaga is set to hold a free concert at Rio de Janeiro's Copacabana Beach in May 2025, two sources familiar with the matter told Reuters, a show expected to draw hundreds of thousands of fans.
Taylor Swift fans turn out on Black Friday for vinyl album, new Eras Tour book
Young Taylor Swift fans and their parents lined up outside some of Target's nearly 2,000 stores in America early on Nov 29 - Black Friday - to buy copies of her new Eras Tour book and vinyl album.
K-drama actor Jung Woo-sung apologises after scandal on love child
One of South Korea's top actors apologized after it was revealed he fathered a child with a woman he is not married to, sparking nationwide scrutiny in a country where births outside marriage are still seen as taboo.
Festive vibes with Vivaldi at SSO's choral concert
CONCERT GLORIA!
An exploration of personal identities through dance
As one stepped into the theatre, a dancer was already on stage, performing a short series of movements.
BoA's first solo show harks back to K-pop's roots
The South Korean singer-songwriter's Singapore show was the last stop of her first Asia tour
The myth of an equal marriage
Research has shown that married women continue to do more at home compared with their husbands, so it is time for men to step up
What to do if your child is targeted by a bully
Following recent incidents of school bullying, several parents wrote in to ST to ask for advice on how they can help their children if they are targeted by a bully or bullying someone.
