Coach banking on multi-brand strategy to drive growth
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New York
LUXURY handbag maker Coach Inc has spent the past few years working to revive sales, refresh designs and shake off heavy discounting. Now it has its next strategy firmly in sight: building a multi-brand company through acquisitions.
With a war chest of more than US$1.8 billion in cash, chief executive officer Victor Luis has let it be known that he's interested in purchasing handbag, accessories, footwear and outerwear brands. In recent months, New York-based Coach was said to be interested in Burberry Group Plc and Kate Spade & Co, and there's been buzz about Jimmy Choo Plc.
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