Stuart Weitzman offers leg-up for Coach
The CEO of leathergoods brand Coach has praised Stuart Weitzman’s performance in the first fiscal quarter and said he is pleased with its “traction with fashionable consumers”.
Victor Luis said: “We are confident that together the Coach and Stuart Weitzman brands can drive sustainable growth and best-in-class profitability for Coach over the long term.”
Net sales for the footwear company totalled $87.5 million while gross profit totalled $50.6 million.
The Coach group, which had seeing falling sales in the US over recent years, reported double digit increases in sales in Europe and China.
Mr Luis said the 3% rise in sales to $1 billion on a constant currency basis meant the brand was confident of returning to top line growth in by the end of this fiscal year.
Coach bought Stuart Weitzman for $574 million at the start of the year (see WF May/June 2015).
