Ex-Coach chairmen team up on Gen-Z idea
Two former chairmen of Coach, Lew Frankfort and Jide Zeitlin, are using their combined management and market expertise to identify new acquisition targets. To this end, they have set up a new special purpose acquisition company (SPAC), Bleuacacia.
Lew Frankfort spent 35 years at Coach before stepping down as chairman in 2014. Jide Zeitlin was his successor and he helped steer Coach into its new corporate set up under parent group Tapestry in 2017. Mr Zeitlin became chief executive of Tapestry in 2019, stepping down a year later.
Bleuacacia formally filed in June with the US Securities and Exchange Commission (SEC) and is aiming to raise $300 million to fund acquisitions.
Its founders have said specifically that they want to target businesses and brands with powerful emotional engagement with Millennial and Gen-Z consumers.
