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Coach to buy another luxury brand

  • News
  • May 25, 2017
Coach to buy another luxury brand

After successfully buying Kate Spade, Coach has put through another bid to widen its luxury sector. This time setting its focus on Jimmy Choo shoes.

In the possible ultimate luxury fashion collaboration, Coach has edged through as first in line to buy Jimmy Choo in an estimated one billion pound deal.

Coach chief executive Joshua Schulman is a former boss of Jimmy Choo and gives the company an advantage over rival suitors.

The popular shoe brand was put up for sale late last month, after the luxury fashion retailer said it decided to conduct a review of the various strategic options, “seeking offers” for the company.

But Coach isn’t the only one in bid for the retailer, it has been reported by Telegraph Business that Michael Kors Holdings has also expressed interest in buying the company.

Michael Kors was also tossed around as a potentially suitor for the sale of Kate Spade early this year, which was also bought out by Coach.

Coach acquired Kate Spade — which has a market capitalization of US$2.37 billion — for US$2.4 billion in an all-cash deal.

Coach failed to acquire Burberry last year after their 20 billion pound bid was denied.

Jimmy Choo, which trades on the London Stock Exchange, has a market cap of 790 million pounds, or $1 billion at the current exchange rate. The brand’s 2016 sales were 364 million pounds, or $471 million, representing year-over-year growth of 14.5 percent.

Jimmy Choo’s revenues soared 15 percent to 364 million pounds last year while earnings rose 16 percent to 59 million pounds.

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Military-style semi-automatics ban announced

  • News
  • March 21, 2019
  • The Register team
Military-style semi-automatics ban announced

As of 3pm on March 21, a wide range of semi-automatic weapons have been reclassified under section 74A(c) of the Arms Act as requiring an E endorsement on a firearms license. This means they can no longer be sold to those with A-category gun licenses, and their purchase now requires police approval.

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Retailers gather for insights at NZ Retail and The Register's breakfast

  • News
  • March 21, 2019
  • The Register
Retailers gather for insights at NZ Retail and The Register's breakfast

NZ Retail and The Register’s sales and marketing breakfast saw dozens of Kiwi retailers come together to network, sharing tips and tricks and absorbing expert advice.

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Who stole Christmas?

  • News
  • March 21, 2019
  • Kelly Withers
Who stole Christmas?

Results are starting to trickle in from Christmas 2018/2019, and for many retailers, they're a little disappointing. Paydar chief executive and co-founder Kelly Withers explores the data.

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  • Radio New Zealand
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Hunting & Fishing New Zealand voluntarily pulls military-style assault weapons from sale

  • News
  • March 20, 2019
  • Sarah Dunn
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In the wake of the attack on Christchurch’s Muslim community on March 15, strong calls for changes to New Zealand’s gun last have been made. Trade Me was the first retailer to act, halting the sale of all semi-automatic weapons on its platform, and it has now been joined by Hunting & Fishing New Zealand.

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