NPR

Coach Announces It Is Buying Kate Spade In $2.4 Billion Deal

The news confirms months of rumors that the two New York-based brands were in talks to join forces, as Coach tries to attract millennial customers. Both boards unanimously approved the deal.
Purses hang in the window of a Kate Spade store in New York City's SoHo neighborhood. Source: Spencer Platt

Luxury brand Coach says it has reached a deal to acquire its smaller rival, Kate Spade, in a cash deal worth $2.4 billion.

The announcement confirms months of rumors that the two New York-based brands were in

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