Coach to buy shoemaker Stuart Weitzman

by:GF bags     2019-09-09
Coach Inc. will acquire Stuart Weitzman Holdings LLC, a women\'s luxury footwear company that wants to expand its high
Final products that compete better with competitors such as Michael Kors Holdings Ltd and Kate Spade & Co.
Coach, known for its Poppy handbags, said it would buy Stuart Weitzman from private equity firm Sycamore Partners, a deal worth up to $0. 574 billion.
Companies like Michael Kors and Kate Spade are already in New York.
Coach has a market share in North America with its affordable, stylish handbags and accessories.
Coach is realigning the business by cutting promotions and closing poorly performing stores.
The company said on Tuesday it would pay Sycamore Partners about $0. 53 billion in initial cash and pay up to $44 million in part of its revenue target within three years of the end of the acquisition.
Last year, Sycamore Partners acquired Stuart Weitzman as part of its $2 deal.
2 billion to acquire Jones Group, a fashion company with West Nine and New York Jones retail chains.
Reuters reported on Monday that the coach was close to buying Stewart Weizman.
The Wall Street Journal reported for the first time that the two companies were about to reach an agreement.
Shares of Coach rose 1.
$ 5%, $37.
In Tuesday\'s pre-trading session
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