Coach announces acquisition
08/05/2017
But on May 8, the announcement it made was about the acquisition of accessories brand Kate Spade, valuing the transaction at $2.4 billion.
Coach chief executive, Victor Luis, said on making the announcement: “Through this acquisition, we will create the first New York-based house of modern luxury lifestyle brands, defined by authentic, distinctive products and fashion innovation. In addition, we believe Coach’s extensive experience in opening and operating specialty retail stores globally and brand-building in international markets, can unlock Kate Spade’s largely untapped global growth potential.”
Coach said it will preserve Kate Spade’s brand independence and retain key talent.
Share this story:
