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Kate Spade New York, the brand synonymous with preppy home decor, clothing, and paper goods, has a brand new parent company. And it’s one you definitely know: Coach. The American heritage brand just bought KSNY for a whopping $2.4 billion.
Victor Luis, Coach’s CEO, said in the press release, “Kate Spade has a truly unique and differentiated brand positioning with a broad lifestyle assortment and strong awareness among consumers, especially millennials… In addition, we believe Coach’s extensive experience in opening and operating specialty retail stores globally, and brand building in international markets, can unlock Kate Spade’s largely untapped global growth potential.”
Despite Coach’s promise to “[preserve] Kate Spade’s brand independence,” a lot of people still skeptical about its future took to Twitter in droves to voice their outrage.
Coach bought Kate Spade & this is my worst NIGHTMARE
— Alaina Carney (@alaina_carney) May 8, 2017
Guess it was time to move on from Kate Spade any way 🙃 pic.twitter.com/0NXO9chrBu
— Danielle D. Rogers (@rogersddanielle) May 9, 2017
Coach is going to completely ruin the Kate Spade brand
— Sare (@SARAHendres12) May 9, 2017
TBH. I'm scared that coach is going to ruin Kate Spade. I like that it's quirky & not as big of a brand, & still has a more boutique feel.
— Em F🦊x (@EmFox925) May 8, 2017
Coach bought Kate Spade and I'm not trying to be dramatic but I actually think my life is over
— Bri Fowle (@bri_fowle) May 8, 2017
WHY IS THIS HAPPENING. https://t.co/upfMG3pseg
— TSM (@totalsratmove) May 8, 2017
My heart is broken because Coach bought out Kate Spade.
— Amber Montavon (@AmsMonty) May 9, 2017
coach buying Kate spade is possibly the worst thing I've ever heard 🙄
— Cheyene Huff (@yankeesfaaan17) May 9, 2017
The fact the Coach is buying out Kate Spade makes me so sad bc I love KS and now it's gonna go to crap.
— ⓜⓞⓡⓖⓐⓝ (@throwsome_MO) May 8, 2017
If you don't think Kate Spade selling out to Coach is offensive you probably also don't have taste
— kaitlyn marie (@kaitlynwender) May 9, 2017
What do you think of Coach’s purchase? Tell us @BritandCo!
(h/t Allure; photos via Spencer Platt/Getty + Astrid Stawiarz/Getty)
