US: Coach eyeing Tory Burch buyout deal?
Upscale footwear, handbag and accessories retailer Coach Inc is pursuing a takeover of rival luxury company Tory Burch, reports say.
The New York-based firm approached Tory Burch LLC last year with a US$2-3bn buyout bid, according to a report in The Wall Street Journal, and is still looking to make an acquisition.
Neither Coach or Tory Burch would comment when contacted by just-style today (14 May).
Last month, Coach posted 6% third-quarter profit growth to reach $239m, boosted by sales in North America and overseas, which rose 7% and 6% respectively. The company also revealed that it was exploring strategic options for the Reed Krakoff brand.
Upscale footwear, handbags and accessories retailer Coach Inc has today (22 October) reported a slight decline in first-quarter profit, hurt by weaker sales in North America....
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