Coach to Acquire Kate Spade & Company

7/10/17

NEW YORK--(BUSINESS WIRE)--Coach, Inc. (NYSE:COH) (SEHK:6388), a leading New York design house of modern luxury accessories and lifestyle brands, today announced that its wholly owned subsidiary has successfully completed its previously announced tender offer for all of the outstanding shares of common stock, par value $1.00 per share, of Kate Spade & Company (NYSE:KATE), at a price of $18.50 per share, net to the seller in cash, without interest thereon and less any applicable withholding taxes.

The tender offer expired at 5:00 p.m. EDT on July 10, 2017. Broadridge Corporate Issuer Solutions, Inc., the depositary for the tender offer, has advised Coach, Inc. that, as of the tender offer expiration, an aggregate of 96,384,196 Kate Spade & Company shares were validly tendered pursuant to the tender offer, representing approximately 75% of the Kate Spade & Company shares then outstanding.

The parties expect to complete the acquisition of all remaining outstanding shares of Kate Spade & Company on Tuesday, July 11, 2017, pursuant to a merger of Coach, Inc.’s wholly owned subsidiary into Kate Spade & Company. Following the merger Kate Spade & Company will be a wholly owned subsidiary of Coach, Inc. and its shares will be delisted from the New York Stock Exchange.

About Coach, Inc.

Coach, Inc. is a leading New York design house of modern luxury accessories and lifestyle brands. The Coach brand was established in New York City in 1941, and has a rich heritage of pairing exceptional leathers and materials with innovative design. Coach is sold worldwide through Coach stores, select department stores and specialty stores, and through Coach’s website at www.coach.com. In 2015, Coach acquired Stuart Weitzman, a global leader in designer footwear, sold in more than 70 countries and through its website at www.stuartweitzman.com. Coach, Inc.’s common stock is traded on the New York Stock Exchange under the symbol COH and Coach’s Hong Kong Depositary Receipts are traded on The Stock Exchange of Hong Kong Limited under the symbol 6388.

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