Coach buying Stuart Weitzman for $530M
A coach store on Rodeo Drive in Beverly Hills, Calif., on Monday, April 25, 2011. The luxury handbag and accessories company is expanding its footwear collection, buying Stuart Weitzman Holdings LLC according to reports Tuesday, Jan. 6, 2015. Credit: AP / Reed Saxon
Luxury handbag and accessories company Coach is expanding its footwear collection, buying Stuart Weitzman Holdings LLC from private equity firm Sycamore Partners for about $530 million.
Coach Inc. will also make up to $44 million in contingent payments to Sycamore Partners if certain revenue targets are hit over the three years after the deal closes.
Stuart Weitzman had about $300 million in revenue for the 12 months ended Sept. 30, 2014. The brand is currently available in 70 countries.
The transaction is expected to close by May.
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