Coach and Brown Shoe Company vie for Stuart Weitzman
Stuart Weitzman may soon change hands. The famous American footwear brand, which was put on sale over the summer by private equity firm Sycamore Partners, should find a new owner by the end of the year, according to the Financial Times.
Among the suitors left: American leatherwear brand Coach, US footwear retailer Brown Shoe, as well as a private equity buyer, revealed the British financial daily, citing sources familiar with the matter.
With the acquisition, accessible luxury brand Coach would be able to strengthen and expand its range in order to fend off stiff competition from the likes of Michael Kors, Tory Burch and Kate Spade, according to the newspaper.
For both Coach and Brown Shoe, purchasing Stuart Weitzman would allow them to add a high-end brand to their portfolio. The article states that the transaction should conclude by mid-December.
Stuart Weitzman is expected to be valued between 600 and 700 million dollars (380 and 450 million pounds).
The famous American high-end footwear brand, whose founding designer Stuart Weitzman remains president, was bought in 2010 by New York ready-to-wear company Jones Apparel Group, which was in turn acquired last April by private equity fund Sycamore Partners.
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