Coach buys rival Kate Spade for $2.4 billion
Handbag maker Coach on Monday said it was buying Kate Spade for $2.4 billion, landing its biggest deal yet. While Coach handbags cost between $285 and $3,000, Kate Spade handbags sell for $100-$500. Coach estimates a 10% shopper overlap between them, with Coach CEO Victor Luis saying, "We don't want consumers to have any idea that there is a link."