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Coach became serious about doing a deal last year, approaching luxury handbag and clothing maker Tory Burch LLC, some of the people said. Coach spoke to Tory about paying in the $2 billion to $3 billion range, which was close to valuations based on investments from General Atlantic LLC and BDT Capital Partners LLC, said one of the people. But closely held Tory didn't bite, the people said.
Still, Coach continues to be on the lookout, people familiar with its thinking said.
New York-based Coach, founded in 1941, once dominated the U.Shop our selection of designer shoes, including Manolo Blahnik, christian louboutin shoes.S. handbag market and has been a go-to brand for women in the aspirational luxury segment. But it has lost some of its luster as its target audience defected to flashier labels from outfits such as Michael Kors Holdings Ltd., Kate Spade, owned by Fifth & Pacific Cos., and Tory Burch. Increasing competition from these and other brands in recent quarters has cut into Coach's growth, especially in North America compared with competitors.
Coach, with a market capitalization of about $16.7 billion, has seen its stock decline 13% over the past year, while shares of Michael Kors Holdings Ltd. with a market value of $12.3 billion, have risen about 51% in that period.
Coach has benefited from success overseas as growing consumer economies such China clamor for Western luxury brands. For the quarter ended March 30, Coach reported sales of $1.2 billion, up 7.1% over the year-earlier period. North American sales rose 7% during the period to $792 million,Buy Cheap Michael Kors Bags with big discount and free shipping! while sales in China grew by 40%. Meanwhile, Michael Kors posted a 70% increase in sales during its fiscal third quarter, with sales in North America growing 67%.
Coach has a strong balance sheet, with $928 million in cash and cash equivalents as of March 30. In April, it said it is considering strategic alternatives for its Reed Krakoff brand, including a sale.
The company's last acquisition was two decades ago, when it acquired Mark Cross, a small leather-goods company. The brand faltered, and the company closed it in 1998.
The Simon Property Group has announced the addition of three more stores to the Quaker Bridge Mall. The Art of Shaving, White House Black Market and Soma Intimates will open this summer.
Soma Intimates sells women’s lingerie, loungewear and beauty products. White House Black Market sells women’s clothing. The Art of Shaving specializes in high-end shaving supplies and grooming products.Take a look at these imitation wrist watches for sale online, which are one of the best cheap replica watches in USA.
Teen retailer Aeropostale is also slated to re-open its Quaker Bridge location with a new prototype store on the upper level between Lord & Taylor and Macy’s this month. The new store design will feature iPods in fitting rooms so shoppers can personalize the music while trying on items. Apple desktops and iPads will be available throughout the store for customers to scan products, read reviews and utilize the retailer’s build-your-own-outfit guide. There will also be a jukebox for customers to vote on the music that plays in the store.
The Quaker Bridge Mall renovation project began in the spring of 2012. By the end of this year, the mall will have welcomed more than 50 new retail and dining options including The Cheesecake Factory, bebe, Bachrach, LUSH Fresh Handmade Cosmetics, Michael Kors, and Sur La Table.
“The Quaker Bridge Mall is dedicated to providing an exceptional shopping experience,” Mall Manager Lynda Benedetto said. “With more than 50 new tenants and a renovated interior and exterior, we feel we can truly launch Quaker Bridge to the next level and become the premier shopping destination in our area.”
Many residents hope that Apple is opening a store at the mall. Apple recently advertised for positions in the Princeton area. There has been speculation that an Apple store will opened near Lord & Taylor,Welcome to Buy Michael Kors Outlet online now. but mall management has not confirmed those rumors.
Coach became serious about doing a deal last year, approaching luxury handbag and clothing maker Tory Burch LLC, some of the people said. Coach spoke to Tory about paying in the $2 billion to $3 billion range, which was close to valuations based on investments from General Atlantic LLC and BDT Capital Partners LLC, said one of the people. But closely held Tory didn't bite, the people said.
Still, Coach continues to be on the lookout, people familiar with its thinking said.
New York-based Coach, founded in 1941, once dominated the U.Shop our selection of designer shoes, including Manolo Blahnik, christian louboutin shoes.S. handbag market and has been a go-to brand for women in the aspirational luxury segment. But it has lost some of its luster as its target audience defected to flashier labels from outfits such as Michael Kors Holdings Ltd., Kate Spade, owned by Fifth & Pacific Cos., and Tory Burch. Increasing competition from these and other brands in recent quarters has cut into Coach's growth, especially in North America compared with competitors.
Coach, with a market capitalization of about $16.7 billion, has seen its stock decline 13% over the past year, while shares of Michael Kors Holdings Ltd. with a market value of $12.3 billion, have risen about 51% in that period.
Coach has benefited from success overseas as growing consumer economies such China clamor for Western luxury brands. For the quarter ended March 30, Coach reported sales of $1.2 billion, up 7.1% over the year-earlier period. North American sales rose 7% during the period to $792 million,Buy Cheap Michael Kors Bags with big discount and free shipping! while sales in China grew by 40%. Meanwhile, Michael Kors posted a 70% increase in sales during its fiscal third quarter, with sales in North America growing 67%.
Coach has a strong balance sheet, with $928 million in cash and cash equivalents as of March 30. In April, it said it is considering strategic alternatives for its Reed Krakoff brand, including a sale.
The company's last acquisition was two decades ago, when it acquired Mark Cross, a small leather-goods company. The brand faltered, and the company closed it in 1998.
The Simon Property Group has announced the addition of three more stores to the Quaker Bridge Mall. The Art of Shaving, White House Black Market and Soma Intimates will open this summer.
Soma Intimates sells women’s lingerie, loungewear and beauty products. White House Black Market sells women’s clothing. The Art of Shaving specializes in high-end shaving supplies and grooming products.Take a look at these imitation wrist watches for sale online, which are one of the best cheap replica watches in USA.
Teen retailer Aeropostale is also slated to re-open its Quaker Bridge location with a new prototype store on the upper level between Lord & Taylor and Macy’s this month. The new store design will feature iPods in fitting rooms so shoppers can personalize the music while trying on items. Apple desktops and iPads will be available throughout the store for customers to scan products, read reviews and utilize the retailer’s build-your-own-outfit guide. There will also be a jukebox for customers to vote on the music that plays in the store.
The Quaker Bridge Mall renovation project began in the spring of 2012. By the end of this year, the mall will have welcomed more than 50 new retail and dining options including The Cheesecake Factory, bebe, Bachrach, LUSH Fresh Handmade Cosmetics, Michael Kors, and Sur La Table.
“The Quaker Bridge Mall is dedicated to providing an exceptional shopping experience,” Mall Manager Lynda Benedetto said. “With more than 50 new tenants and a renovated interior and exterior, we feel we can truly launch Quaker Bridge to the next level and become the premier shopping destination in our area.”
Many residents hope that Apple is opening a store at the mall. Apple recently advertised for positions in the Princeton area. There has been speculation that an Apple store will opened near Lord & Taylor,Welcome to Buy Michael Kors Outlet online now. but mall management has not confirmed those rumors.
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