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Coach buying Kate Spade for $2.4B

May 9, 2017

Coach is buying fashion icon Kate Spade in a $2.4 billion deal to create what Coach calls a "leading luxury lifestyle company."

The new Coach will boast "significant expertise" when it comes to retail operations, supply chain, merchandising and bag creation, according to a Business Insider report.

"Kate Spade has a truly unique and differentiated brand positioning with a broad lifestyle assortment and strong awareness among consumers, especially millennials," Coach CEO Victor Luis said in a company press release.