Michael Elliott LLP’s Post

I only have bit of expertise on Kors business. I believe there is a serious product problem and they are way over distributed. I don’t mean to be unkind but I have the same feeling when Coach went south. It was the handbag brand along with Dooney & Bourke - and then you couldn’t give away. For literally maybe 2 decades stores like Macy*s couldn’t keep it on the shelf with teenagers to grandparents buying. Kors does not look like an affordable luxury brand - it has a more moderate vibe. The photo of products in the window shot looks terrible. Nothing catching the eye and way to much camel color. And, wouldn’t Ralph Lauren be a good comparison below is todays announcement. Kors obviously does more accessories than Ralph but I think intelligent comparison. Also, they closed 100’s and 100’s of wholesale department stores focusing on better markets and higher volume doors. Also, Ralph’s CEO is like a kid in candy store. Giving clear direction, holding people accountable and a terrific positive leader. Not sure that’s going on over there. Wait to you see next post. #retail #retailnews #luxury #handbags #lifestyle #artist #love #family #economy #departmentstore

The Federal Trade Commission (FTC) moved to prevent Tapestry, Inc.’s $8.5 billion acquisition of Capri Holdings Limited. Tapestry wants to strengthen its foothold in the fashion industry by acquiring Capri. kate spade new york and Coach offer affordable items called accessible luxury accessories. As per the FTC, the combined entity will have no reason to be price competitive, thus forcing Americans to pay more for these items. This will dissolve the competition for affordable handbags, while wage workers may lose their benefits and favourable working conditions. The new company will compete directly with European luxury brands like Burberry and Louis Vuitton. What are Tapestry's revenue expectations from the deal? Find out the retail giant's stand on the case in today's #SalestorrsNews150, news in 150 words. #retailindustry #luxurybrands #michaelkors Michael Kors Stuart Weitzman Versace Jimmy Choo

BREAKING: Dubai-Based Brands For Less Sells 35% Stake to TJX for $360M, Valuing the Group at $1.2 Billion Dubai’s Brands For Less (BFL) Group has sold 35% of its business to The TJX Companies, Inc. for $360 million, placing BFL’s total valuation at $1.2 billion. BFL, a leader in off-price retailing of fashion and homeware, operates across seven markets in the Middle East and Europe from its UAE base. Founded in Lebanon in 1996 and later expanding to the UAE in 2000, BFL has built a strong reputation under the leadership of its charismatic Executive Chairman and Co-Founder, Toufic Kreidieh, who is also known for his engaging TikTok presence. Kreidieh expressed enthusiasm about the partnership, stating, "This is an exciting opportunity for growth, and with TJX’s international expertise, we are well placed to successfully execute our strategy while supporting the development and rewarding the dedication of our employees.” The TJX Companies, a Fortune 100 company and the world’s leading off-price retailer with brands like TJ Maxx, Marshalls, and HomeGoods, will leverage its global experience to help BFL expand beyond the GCC region. TJX’s involvement is expected to significantly enhance BFL’s growth prospects on the international stage. https://lnkd.in/dQd5dxZF Toufic Kreidieh BFL Group The TJX Companies, Inc. #BFLGroup #UAE #Dubai #BreakingNews

Selfridges co-owner Tos Chirathivat, the executive chairman and CEO of Thailand’s Central Group, has admitted that the £4bn acquisition of Selfridges and several other European luxury department stores was too high a price, especially in light of rising global interest rates. #retailnews https://lnkd.in/dNvqJ4Ey

Saks Wraps Up $2.2 Billion Bond for Neiman Deal at 11% Yield. Offering had twice as many orders as there were bonds for sale. Hudson’s plan to buy Neiman would create luxury retail giant https://lnkd.in/gsm3pDnh #tradeguard #receivableputoptions #arputs #receivableputs #tradereceivables #accountsreceivables

The US Federal Trade Commission (FTC) has sued to block Tapestry’s (parent company of Coach and Kate Spade) $8.5 billion acquisition of Capri Holdings Limited (a global fashion luxury group consisting of Jimmy Choo, Michael Kors and Versace). How would the proposed deal impact global luxury retail competition and consumer choice? Coresight Research explores the merger’s implications and considers the FTC’s claims, leveraging proprietary US consumer survey analysis. #tapestry #capri #ftc #federaltradecommission

Nordstrom to Be Taken Private By Founding Family and El Puerto de Liverpool The business will be acquired by members of the family and El Puerto de Liverpool, a Mexican real estate and department store company that has owned a stake in Nordstrom since 2022.

The luxury sector is struggling and the mid tier luxury is having a harder time as evidence Capri Holdings Limited whose comps have been declining. Capri Holdings Limited which owns Michael Kors and Jimmy Choo and versace. After the merger with Tapestry was blocked by the FTC Capri now considering selling off their brands to reinvest and salvage the star of the portfolio Michael Kors. I personally was disappointed because merging with Tapestry which has had a successful relaunch of Coach could have shared their knowledge. It is too iconic a brand to fail. The luxury sector is also trying to woo the aspirational customer with under $500 to $100 gift guides online. How about Gucci sticky notes for a mere $245? #luxurysector #luxuryretail #mergersandacquisitions #capri #tapestry https://lnkd.in/euPyQYaT

The rough diamond market is in an unusual position for this time of year. Sightholders faced a two-pronged challenge at last week’s De Beers Group sight – high rough prices and weak polished demand. That begs the questions: how was the holiday season really? And consequently, what can we expect from both the polished and rough markets in the coming months? Signet Jewelers Richemont #Botswana #diamonds #jewelry #   

Harrods marks 175 years with the launch of new own-brand collections ideal for corporate gifting For 175 years, Harrods has stood as an icon of British luxury retailing, and home to the finest luxury brands. Read more: https://lnkd.in/e4xxYtgu Subscribe to the Citywealth Weekly Newsletter to learn more about Private Wealth Management: https://lnkd.in/dS2Sw9ey #Citywealth #privatewealth #privateclient #lawyers #accountants #trustees #privatebanks #investmentmanagers #PrivateWealth #lawfirms #financialservices #trusts #wealthmanagement Natasha Nicol