Burberry and Jimmy Choo shares dip after Coach annou - leatherbiz: Lea Leatherbiz

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Burberry and Jimmy Choo shares dip after Coach announcement

09/05/2017
Burberry and Jimmy Choo shares dip after Coach announcement
Following Coach’s announcement on May 8 that it has reached an agreement to buy New York-based accessories and shoe brand Kate Spade, group chief executive, Victor Luis, told investors in a conference call that Coach will look at no further “major acquisitions” in the short term.

In recent months, Coach has been linked with possible moves for a number of brands, including Burberry and Jimmy Choo. Following Mr Luis’s comments, however, shares in both London brands dipped.

Coach is to pay $2.4 billion for Kate Spade. The influential Lex column in the Financial Times said on May 9 that it had expected the deal and referred to the amount Coach will pay as “a knockdown price”, an indication, it said, that Kate Spade has been “undermanaged” up to now.


Related stories:

Tapestry takes control of licences after return to growth 07/02/2018
Change of name for Coach group 16/10/2017
Brand repositioning hampers Coach growth 15/08/2017
Selena Gomez designs first product for Coach 10/08/2017
Michael Kors to buy Jimmy Choo for £896 million 25/07/2017
Coach completes deal for Kate Spade 12/07/2017
Luxury industry veteran joins Burberry 28/06/2017

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