Coach on track to acquire Stuart Weitzman
US accessories retailer Coach Inc is thought to be approaching a deal to buy women’s luxury shoe company Stuart Weitzman Holdings LLC for a reported USD 600 million, according to a source familiar with the matter.
The person close to the deal, cited by Reuters, said the acquisition could be announced as early as this week. It comes as Coach looks to compete with the growth of its peers, including brands like Michael Kors and Kate Spade, who have reported phenomenal growth in the last few years for selling aspirational yet affordable luxury items.
Stuart Weitzman was only acquired last year by Sycamore Partners as part of a USD 2.2 billion purchase of Jones Group Inc. The company currently operates 45 retail stores in the US, and 62 internationally.