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During 2014, Coach also announced that Lew Frankfort would retire as executive chairman at the expiration of his term in November 2014. [19] In January 2015, Coach agreed to buy shoemaker Stuart Weitzman for up to $574 million in cash. [20] In the same year, Coach also launched Coach 1941, "a new, higher-priced line centered on ready-to-wear."
The U.S. Federal Trade Commission sued to block the acquisition in April 2024 citing reduced competition between their brands, like Coach and Michael Kors, in the affordable luxury handbag market. It was also concerned that the deal would negatively impact hiring of workers and their wages. [12] The merger was blocked on 24 October 2024. [13]
Miles Cahn (April 18, 1921 – February 10, 2017) was an American businessman and designer who co-founded the Coach Leatherware Company, now known as Coach, Inc., with his wife, Lillian Cahn, in 1961.
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Coach's original line of products focused on men's wallets and billfolds in 1941. [3] It was Lillian who suggested the company branch out into women's handbags. [3] "I scoffed at first," Mr. Cahn told the New York Times. [1] "In New York, there were a lot of handbag companies, and at that time stores were all buying knockoffs of bags made in ...
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3180 Kingsdale Ctr, Columbus, OH · Directions · (614) 459-6494