Luxury retailer Coach Inc. forged an alliance with General Growth Properties Inc., promising about half of the retailer's store openings over the next two years. In all, the agreement totals 35 “deals in principle” and will include opening about 25 new Coach stores and expanding or renewing 10 other existing locations.

Nationally, Coach will open 25 stores in 2006 and 30 in 2007.

The deal puts into practice what General Growth CEO John Bucksbaum has been saying ever since his firm bought Rouse Co. — that they wanted to get 50 percent of retailers' new store openings.