In a bid to reach out to millennials, Coach acquires Kate Spade in a 'bargain deal'

<a href="https://www.lofficielsingapore.com/tags/coach" target="_blank">Coach</a>&nbsp;has closed its biggest business deal yet. At a &quot;bargain&quot;&nbsp;of US$2.4 billion, the&nbsp;New York-based&nbsp;fashion house has brought over&nbsp;<a href="https://www.lofficielsingapore.com/tags/kate-spade" target="_blank">Kate Spade</a>&nbsp;in an attempt&nbsp;to tap into their rival&rsquo;s position in the millennial marketplace.&nbsp;

Best known for its quirky and whimsical take on fashion (case in point: its recent&nbsp;<a href="https://www.lofficielsingapore.com/living/kate-spade-spring-summer-2017-morocco-collection-interview-deborah-lloyd" target="_blank">Moroccan-inspired collection for Spring/Summer 2017</a>), it&#39;s no surprise that&nbsp;Kate Spade often&nbsp;strikes a note among the younger population. &ldquo;Kate Spade has a truly unique and differentiated brand positioning with a broad lifestyle assortment and strong awareness among consumers, especially millennials.&rdquo; said Victor Luis, the Chief Executive Officer of Coach.&nbsp;

With the acquisition, Coach states they are committed to preserving the Kate Spade brand as well as retaining key talent, to ensure a smooth transition to the merger of the brands.&nbsp;Coach believes that with the merger will&nbsp;unlock Kate Spade&rsquo;s largely untapped global growth potential and&nbsp;turn around their luck in the anaemic handbag market.

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Image:&nbsp;Coach&nbsp;1941 Women&rsquo;s Pre Fall

Coach Bags Kate Spade in $2.4 Billion Deal

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Coach Bags Kate Spade in $2.4 Billion Deal

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