Capri CEO John Idol took the stand at a hearing in federal court that could decide the fate of Tapestry's $8.5 billion buyout of Capri.
to that deal has put the future of both companies — and how regulators choose to enforce antitrust laws — front and center. First Lady Jill Biden Speaks at 'Fashion for Our Future' March in Bryant Park
Under Idol, the business rocketed up to $4.7 billion in 2016, a time when he testified Monday that he would leave his New York office and maybe one in seven women on the street would be carrying a Michael Kors bag. Idol said the luxury players that Michael Kors took market share away from turned around and started to take it back. But the U.S. government has a much different take on that market and the transaction.
The case, which started in April, has produced more than 4 million documents and Lindquist, to help underscore her points, read several internal emails in court, pulling back the curtain on how top executives conduct business privately.
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