The deal, if approved, would put six fashion brands under a single company: Tapestry’s Coach, Kate Spade and Stuart Weitzman, with Capri’s Versace, Jimmy Choo and Michael Kors.
Yet, in his remarks, Kors described how even legacy brands like his own can struggle and lose shoppers’ interest.
Shares of Capri, which includes Michael Kors, reflect the tougher stretch that the designer Kors described.
In its most-recent fiscal quarter that ended in late June, Michael Kors’ revenue dropped 14.2% on a reported basis or 13.3% on a constant currency basis compared to the year-ago period.
Gennette, who retired early this year, said the department store’s sales got hit because it leaned too heavily on Michael Kors’ brand.
Persons:
Michael Kors, Taylor Swift, Kors, Kate Spade, Stuart Weitzman, Capri’s Versace, Jimmy Choo, you’ll, we’ve, ”, Jeff Gennette, Michael Kors ’
Organizations:
Federal Trade Commission, FTC, Tapestry
Locations:
Manhattan, Capri
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