Coach Is About to Buy Stuart Weitzman

Coach is on the cusp of finalizing its first acquisition, American footwear brand Stuart Weitzman. According to WWD, the purchase price is somewhere in the neighborhood of $580 million.

Coach is looking to buy the brand from private equity firm Sycamore Partners, which has investments in a number of fashion and accessories brands, including Kurt Geiger, Jones New York, Nine West and Hot Topic. Coach is going through a rebranding of sorts as Creative Director Stuart Vevers tries to expand the label’s offerings into apparel and pricier options. At the very least, this acquisition can give Coach a stronger presence in the footwear arena.

We don’t know yet if Stuart Weitzman himself will stay at the label after the purchase, which will be officially announced this week.

[via WWD]

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