The Federal Trade Commission (FTC) has been trying to block Coach parent Tapestry’s (TPR) acquisition of Michael Kors holding company Capri Holdings (CPRI). Pauline Brown, author of "Aesthetic Intelligence" and former LVMH (LVMUY) chairman, joins Julie Hyman and Josh Lipton to discuss the designer retail market and the FTC’s action. Brown argues that the FTC faces a "high hurdle" in making its case. She says, "The trickiest part of their legal argument is that there is a natural market.. for what they are calling accessibly priced luxury handbags. The reality is, I think it’s a spectrum." Brown thinks that it’s "a feeble argument" to say that customers will be hurt by higher prices because "the customers, if they’re happy, they’ll still come at the right price, for the right designs. And if they’re not, they’re going to go to another player." Brown also discusses the booming resale market for designer goods as some items sell for a lower price in Europe than they do in China, allowing resellers to profit from the gap.
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