Coach buys Kate Spade

Coach announced, it is Buying Kate Spade. The purchase price is US$2.4 billion in cash.

Kate Spade is aiming for a younger customer. Both brands are licensed into various categories, Coach among others for watches, eyewear and perfume, Kate Spade more liberally for eyewear, watches, perfume, home textile, socks, sleepwear, etc.

The acquisition is to close during the 3rd quarter of 2017.

Earlier Coach had acquired Stuart Weitzman.