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Press release from Business Wire

COACH, LF USA and Target Reach Settlement in Lawsuit

Monday, May 17, 2010

COACH, LF USA and Target Reach Settlement in Lawsuit16:30 EDT Monday, May 17, 2010 NEW YORK (Business Wire) -- Coach, Inc. (NYSE: COH), a leading marketer of modern classic American accessories, along with LF USA, Inc. and Target Corporation, (NYSE: TGT) today announced that all parties have amicably resolved the recent lawsuit filed by Coach. The lawsuit, Coach Services, Inc. v. Target Corporation, and Rosetti Handbags & Accessories, Ltd., a division of LF USA, Civ. Action No.: 09 CV 8329 (LAK), filed by Coach on October 1, 2009, in the Southern District of New York, alleged defendants had, among other things, designed and sold handbags that infringed on certain of Coach's designs. “We are pleased to have reached a settlement that is satisfactory to all parties in this litigation,” said Todd Kahn, Senior Vice President, General Counsel of Coach. Rick Darling, President of LF USA added, “We respect the integrity of all brands, including Coach, and are pleased that this matter has been resolved in a manner beneficial to all parties involved.” The terms of the settlement are confidential. Coach, with headquarters in New York, is a leading American marketer of fine accessories and gifts for women and men, including handbags, women's and men's small leathergoods, business cases, weekend and travel accessories, footwear, watches, outerwear, scarves, sunwear, jewelry, fragrance and related accessories. Coach is sold worldwide through Coach stores, select department stores and specialty stores, through the Coach catalog in the U.S. by calling 1-800-223-8647 and through Coach's website at www.coach.com. Coach's shares are traded on The New York Stock Exchanges under the symbol COH. LF USA is a subsidiary of Li & Fung Limited, the world's leading sourcing company for consumer goods, managing the supply chain for retailers and brands worldwide. Headquartered in Hong Kong, the Group services its customer globally through a sourcing network of over 80 offices and 40 countries and territories. Corporate website: www.lifung.com