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.