The luxury brand Coach, which has become popular in the handbag industry within a short span of time aims to create a monopoly on luxury fashion conglomerate in America, by acquiring an American fashion brand Kate Spade for $2.4 billion.
Coach through this acquisition is keen on catering their products to younger generation. As reported by Allure, In a statement given by the CEO of Coach, Victor Luis, “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”, he further says “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”.
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