Coach buys Stuart Weitzman for $574 million
07/01/2015
US leathergoods company Coach has bought luxury shoe brand Stuart Weitzman for $574 million, after its forays into the shoe sector last year fell short of expectations.
Coach will pay private equity firm Sycamore Partners – which took on the brand last year as part of the Jones Group – $530 million in cash and $44 if it hits revenue targets over the next three years. Stuart Weitzman realized net revenues of approximately $300 million for the twelve months ended September 30, 2014.
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