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Coach X JCPenney Possibly in the Works

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Right now it's predominantly hinting, rumormongering, and speculation, but there's a distinct possibility Coach might be working on an accessories line with JCPenney. Lest you get too excited by the prospect of carrying a bargain-priced JCPenney exclusive, know that Coach chairman and CEO Lew Frankfort insists the line will not branded Coach. Which kinda makes us scratch our heads and wonder, 'Huh, what's the point of that?' [Racked NY]