What's Going On With Tapestry Shares Today?
Portfolio Pulse from Lekha Gupta
Tapestry, Inc. (NYSE:TPR) shares fell after its subsidiary Coach filed a trademark infringement lawsuit against The Gap, Inc. (NYSE:GPS) for selling T-shirts with the word 'Coach'. Coach claims this causes confusion and 'irreparable harm' to its luxury brand image, seeking damages and the destruction of unsold infringing inventory. Investors can also engage with Tapestry through ETFs like Invesco S&P 500 Equal Weight Consumer Discretionary ETF (NYSE:RSPD) and Bushido Capital US Equity ETF (NASDAQ:SMRI).
April 04, 2024 | 3:31 pm
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NEUTRAL IMPACT
Invesco S&P 500 Equal Weight Consumer Discretionary ETF, which includes Tapestry, might see an indirect impact from the Tapestry-Gap lawsuit.
As an ETF that holds Tapestry among its assets, RSPD might experience indirect effects from the lawsuit, though diversified holdings may mitigate significant impact.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Bushido Capital US Equity ETF, with exposure to Tapestry, could be indirectly affected by the Tapestry-Gap legal battle.
Given SMRI's exposure to Tapestry, the ETF could see indirect impacts from the lawsuit. However, the diversified nature of ETFs may buffer against major effects.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Gap faces a lawsuit from Coach for trademark infringement, potentially affecting its stock performance.
Being the defendant in a high-profile trademark infringement lawsuit could harm Gap's brand image and investor sentiment, likely leading to a negative impact on its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Tapestry's shares dropped following a lawsuit filed by its subsidiary Coach against Gap for trademark infringement.
The lawsuit filed by Coach against Gap for trademark infringement directly impacts Tapestry's public image and investor confidence, leading to a decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100