NEW YORK - Coach is buying Kate Spade for $2.4 billion, tying together two premier brands in the luxury goods sector that have fought to snare younger shoppers. Coach CEO Victor Luis says that Kate Spade has a "strong awareness among consumers, especially millennials." The boards of both New York companies have approved the deal, which is targeted to close in the third quarter.

In major retail news, Coach will acquire Kate Spade in a $2.4 billion deal. https://t.co/swNdJ2I4PZ

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