Prolific North’s Post

The Frasers Group and Boohoo Group PLC spat continues ahead of next Friday's shareholder vote. Read today's update here. #fashion #fashionnews #retail #retailnews #Frasers #BoohooGroup

Frasers Group has published an open letter to Boohoo Group PLC's board “proposing a solution to Boohoo’s leadership crisis to restore value for all shareholders”. Read more here. #fashion #fashionnews #retail #retailnews #Boohoo #MikeAshley #FrasersGroup

Boohoo Group PLC: I am unsure what the teams at ISS | Institutional Shareholder Services and Glass, Lewis & Co. are thinking, but it is very difficult to justify not supporting a 28% shareholder gaining seats on the board. From the article: Glass Lewis said in its report that although Ashley made certain commitments aimed at addressing these issues, such as agreeing not to share confidential information regarding Boohoo with Frasers, “we believe they fall short of the level of protections that are necessary to sufficiently guard against” this. Management and the Board of Boohoo Group PLC have been clearly documented to act in a reckless and immoral fashion bordering on the illegal. Inside the Boohoo warehouse where workers call themselves slaves | Times Investigation https://lnkd.in/dcvfX2hh These advisers may be focusing on the wrong issues. Frasers Group has skin in the game and capital at risk. Therefore, they deserve a seat at the table. #corporategovernance #equities #uk #smallcaps

Mike Ashley's Frasers Group has published another open letter to Boohoo Group PLC, blasting the company for its "desperate" moves and making demands to not sell any of its assets without shareholder approval. Read more below. #mikeashley #frasers #boohoo #retail #retailnews

"Boohoo losses triple as it raises cash amid Frasers boardroom battle 📉💰 Boohoo is set for a festive showdown with Mike Ashley's Frasers Group, urging investors to reject Ashley's bid for a board seat at a shareholder meeting next month 🥊💼 #Boohoo #RetailWar #FrasersGroup Get in-depth insights at databoutique.com, your largest source for public data that helps understand the news in retail 🎄📊🔍 #DataInsights #RetailNews" by Retail Gazette about boohoo

I enjoyed chatting with Inside Retail US about the FTC’s attempts to block the Tapestry x Capri Holdings Limited merger. As I told them, the decision does a great disservice to the retail industry and to American companies trying to create brand houses to rival those in Europe – at least in terms of scale. More importantly, however, the case is based on extremely poor logic and a misreading of how the market works. The FTC is meddling in areas that it doesn’t adequately understand. It all too often operates in a theoretical bubble that is divorced from reality. More of my views in the article… https://lnkd.in/eqXTmefT #retail #retailnews #regulation #luxury #handbags

For months, short-selling investors have been placing a wager that Tapestry’s $8.5 billion acquisition of competitor Capri Holdings Limited would never happen. It seemed like a longshot bet: the deal, announced in August, was enthusiastically supported by management at both companies, and uniting handbag brands Coach and Michael Kors under one roof seemed like an obvious fit. Earlier this week, however, the contrarian view started looking a whole lot more likely. On Wednesday, The New York Times reported that the US Federal Trade Commission was considering a lawsuit to block the merger, with a vote to move ahead coming as soon as Monday. Their reasoning is that bringing two brands with a similar value proposition together would decrease competition and force consumers to pay higher prices. But, why is the FTC targeting this deal, and what would happen to Tapestry and Capri if the deal is blocked? Read the full story by BoF's Cathaleen Chen

Thoughts on this block: It's unfortunate but expected. Clearly, someone wants to prove a point, but the reality is that anyone in handbags knows this: - A customer doesn't care about who owns which brands - An acquisition like this won't impact nor influence the customers' purchasing behavior - The customers who shop Coach (at any level) are not the same customers who shop Michael Kors. - Spend time in any free-standing store, which they market and promote, or those who shop their outlets can see this. - The regulators were concerned that the merger would harm consumers by limiting competition. Check out IG, e-commerce, and all levels of retail from Bergdorfs to TJ Max - tell me how this is true. I ran an awards show for handbags, I just don't agree. What can I say - this is just my opinion. https://lnkd.in/ekQN2arG https://lnkd.in/ekQN2arG

A pivotal antitrust trial is unfolding in Manhattan, where a federal judge is set to decide whether Tapestry Inc., the parent company of Coach, Kate Spade, and Stuart Weitzman, can merge with Capri Holdings Limited, which owns Versace, Jimmy Choo, and Michael Kors... #antitrust #antitrustlaw #competitionlaw #fashion #mergersacquisitions #clothing #retail

'Boohoo scraps £1m exec bonuses after shareholder backlash ❌💷📈 Boohoo has ditched its plans to pay its top executives bonuses worth £1m after receiving a backlash from shareholders.💼🗣️💪 #Boohoo #ShareholderPower #EthicalBusiness #ExecutiveBonus' by Retail Gazette about boohoo