M&A in the Fashion Industry: An Employment Law Perspective
In the article, "M&A in the Fashion Industry: An Employment Law Perspective," featured in the New York Law Journal, Michael Marra advises attorneys to be prepared for the changes that will come as a result of the significant acquisition and investment in the retail industry.
"On the (high) heels of the July 25 announcement that New York-based Michael Kors Holdings will acquire luxury shoe brand Jimmy Choo Plc for $1.2 billion, which followed other recent U.S. fashion and apparel deals, media interest in industry acquisitions and potential consolidations of brands is heating up. Indeed, the Michael Kors CEO made headlines by telling CNBC that he hoped the company was not done, and hoped to eventually achieve the status of a luxury group. The recent headline-grabbing announcement is just the latest in a string of fashion acquisitions across the market spectrum. Luisa Zargani, "Global M&A Activity Up 30% in 2016," Women's Wear Daily, March 10, 2017. Whether driven by challenging macro-economic conditions and uncertain financial markets, the rise of e-commerce and m-commerce, the desire to re-brand, and/or other strategic aims of expansion, it appears we are in for a period of persistent, significant acquisition and investment in the industry—and attorneys should be prepared for the influx."
To read the full article, please visit the New York Law Journal. (Subscription required)