Kate Spade has attracted a variety of suitors.
Last month, it was reported that the handbag company was looking for new ownership. At the time, Coach Inc. and Michael Kors Holdings Ltd. were considered to be suitable matches, and now it looks like they are two of six companies vying for the brand.
Bloomberg says sources close to the deal indicated both companies are considering a bid when the formal auction starts later this month.
The sale of the company was prompted by Caerus Investors, which has a stake in the business. In November, the investor sent a letter to Kate Spade’s Board of Directors urging the sale to “a larger, more experienced, global player” in an effort to boost profits.
