Kate Spade explores buyout options with Michael Kors, Coach

Kate Spade bag

Under pressure from investors, Kate Spade has agreed to explore strategic alternatives, including a possible buyout. Working with financial adviser Perella Weinberg Partners,the move comes amid a major sales slump for the handbag maker due to declines in mall traffic and tourist spending. Sales at stores open at least 14 months fell 1.5% last quarter. Since receiving pressure from Caerus, reports state that competitors Coach and Michael Kors are interested in bidding on the brand. (Reuters)

Read more on

Suggested Articles

Costco changes up its menu items, and Alibaba and Guess partner for a physical store.

Janey Whiteside, Walmart's new chief customer officer, is well acquainted with the importance of customer service in modern retail.

Whole Foods will offer deals on Amazon's Prime Day, and tariffs against China are causing pricing hikes.