Weitzman owner touted as Jimmy Choo suitor
03/05/2017
The US company described its described third quarter results as “solid” despite a 4% dip in sales to $995 million.
Coach has also named Giovanni Morelli as creative director of Stuart Weitzman, which it bought in 2015. Sales at Stuart Weitzman increased 1% to $80 million for the quarter that ended on April 1.
Coach CEO Victor Luis said: “At Stuart Weitzman, we’re executing on our plan, driving global awareness and brand relevance, and gaining traction with the millennial consumer. The response to spring newness has been particularly strong, and we continue to expect sales to increase at a double-digit pace for both the fourth quarter and the year.”
He added that Coach was evolving as a “multi-brand organisation”, which implies more acquisitions lie ahead.
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