Perhaps Coach CEO Lew Frankfort said too much about last week's meeting with JC Penney CEO Myron E. "Mike" Ullman III and a possible partnership because now, Coach has started issuing statements saying that no such deal is in place.
Although Coach reps said from the outset the brand's name would not be attached to any such down-market line with JC Penney, reps are now backtracking even further to assert that there is no hint of a potential partnership. As a Coach spokesperson told Stylelist yesterday: "There are no plans to create a Coach accessories line for any retailer. The opportunities for Coach within our current concept and channels of distribution are abundant." Definitive, yes, but also divergent from what was being said two days ago.