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Will Coach Launch a Line at JCP?

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Is Coach on the verge of inking a deal to create a lower-priced accessories collection for JCPenney? According to WWD: "Coach chairman and chief executive officer Lew Frankfort— spotted chatting with Penney's chairman and CEO Myron E. "Mike" Ullman 3rd at the Mandarin Hotel, scene of Thursday's night Global Department Store Summit dinner—acknowledged a collaboration is a possibility, but he stressed it would not be under the Coach label and it would have to be a new brand for the new channel." [WWD]