The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Handbag maker Coach Inc said it entered into a 20-year sale-and-leaseback agreement for its headquarters in New York City.
Coach said it received about $707 million from the deal, before transaction costs of $26 million.
The company said the deal resulted in a gain of about $30 million, which would be amortised over 20 years.
Coach said it would bring both its brands, Coach and Stuart Weitzman, under one roof, making it the largest tenant in the new building at 10 Hudson Yards.
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The company did not say who it has signed the agreement with.
By Nikhil Subba; editor: Savio D'Souza.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.