Coach Inc [NYSE:COH] CEO Victor Luis considers handbags, outerwear and footwear to be areas where the fashion firm may pursue acquisitions, Women’s Wear Daily reported on Tuesday (January 31)
In an interview with the publication after Coach reported second-quarter financial results, Luis would not comment on reports that the company may seek a deal for the Kate Spade NYSE:KATE] brand.
As previously reported, Coach and apparel and accessories maker Michael Kors Holdings [NYSE:KORS] are believed to be weighing potential offers for Kate Spade.
Outerwear and footwear present the “next most significant” growth and value-creating opportunities for Coach, which is seeking “great brands,” Luis said. Outerwear, footwear and handbags all could offer deal prospects, he said.
On a conference call with analysts earlier in the day, Luis said Coach wasn’t interested in turnaround deals, WWD reported. On the same call, interim CFO Andrea Resnick said no deals were imminent.
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As seen in the mergermarket newsletter on 01/02/2017