Several news agencies are reporting the deal between Coach and Gurgaon-based Genesis Luxury, however no official statement had been made by either company.

Genesis is reportedly acquiring stock with a view to opening the first standalone Coach store in Mumbai or Delhi.

Coach, founded in 1941, is based in New York, and markets women’s fashion and accessories through department stores, airport concessions and online in 35 international markets.

For the entire fiscal year ended at the 28th June 2014, net sales totaled 806.2 million US dollars (down by 5.3% from previous year) and net income reached 781.3 million US dollars (-24.5% down).

For more information about Coach, please refer to the company's website.