It seems a Coach takeover of Kate Spade is, at long last, finally happening. After months of speculation and several big fashion brands named as potential buyers, employees of both brands told Business of Fashion that the acquisition could be announced within a few days.
The deal comes months after its current shareholder Caerus Investors sent a letter to the company recommending the sale.
Financial details have not been released, but analysts estimate the sale to be in the $2 billion range. That number reflects an increase that came after sales bounced back last quarter and multiple bidders emerged, with a 80% chance of it being sold.
Although Michael Kors is still being tossed as a potential, it seems its future home will most likely be at Coach, who also owns Stuart Weitzman.