share

Coach to make $574 million deal to buy Stuart Weitzman

The New York-based luxury brand intends to acquire the shoe label from Sycamore Partners

By Andrea Tim | Published: 8 Jan 2015

Coach buys Weitzman
Photo: Stuart Weitzman's iconic Nudist heels

Think you've spent too much money on shoes in your life? Don't worry, it's nowhere near as much as Coach. In an effort to boost its position in a highly competitive market, the American company is doing a deal to buy Stuart Weitzman for $574 million.

An advance of $530 million will be made to Sycamore Partners, the shoe brand's owner, with the remaining $44 million to be paid contingently if revenue targets over the next three years are reached, The Wall Street Journal reports.

Following a slump in its handbag business, Coach means to reinforce its other divisions, particularly footwear. Stuart Weitzman's success – with Kate Middleton, Jennifer Lawrence, Taylor Swift and Lupita Nyong'o among its famous clients – will hopefully give Coach the push it needs.

Related: Gisele Bündchen's ads for Stuart Weitzman are all about the shoes


Most Popular

Advertisement

MORE, MORE, MORE

CK By Appointment

CK By Appointment

Simons' first collection for the brand features some 'Stranger Things'

ELLE Instagram
Advertisement
LV #Makeapromise

LV #Makeapromise

Proceeds from the special edition Lockit necklace and bracelet will be donated to Unicef

ELLE Instagram