Coach, Kate Spade purchase would be close. On the plate $ 2 billion

The Business of Fashion wrote on its portal that the passage of Kate Spade under the control of Coach would be just a matter of “signatures”. “According to sources within both brands – writes BoF – The acquisition is expected within a few weeks. Even within a few days. ” Coach, after acquiring the luxury footwear designer Stuart Weitzman, announced last December to “be ready to become an accessory group and not just a well-known brand around the world”. It also toyed with the idea of putting its hands on Kate Spade finalising a transaction of “at least $ 2 billion” according to financial analysts. Asked a comment by BoF, Coach responded: “We are not commenting on rumours and speculations”; while Kate Spade hid behind a “no comment”. According to BoF, the acquisition will lead to “the development of a necessary synergy between the two brands in the supply of hides.” Spade closed 2016 at an altitude of 1.4 billion turnovers, while Coach made the budget with a turnover of 4.5 billion dollars.

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