Accessories and lifestyle brand Coach, Inc. announced yesterday the acquisition of Stuart Weitzman Holdings LLC. The luxury footwear brand will maintain it’s strong management team despite its new ownership by Coach.
The acquisition cost Coach $530 million, which they will pay to Sycamore Partners.
Coach has been undergoing a recent brand transformation, and Victor Luis, Chief Executive Officer of the company said that the Stuart Weitzman brand will bring additional potential.
With the acquisition, Stuart Weitzman will work to expand it’s consumer base, while they assist Coach with their footwear, in both technical and marketing areas.
“We look forward to advancing the Stuart Weitzman brand’s global development, especially by leveraging Coach’s international infrastructure and expertise in handbags and accessories,” Luis said. “In addition, we look forward to benefiting from the Stuart Weitzman team’s expertise in footwear development where they’re proven leaders in fashion and fit.”
Stuart Weirzman is the first company to be acquired by Coach.
By Katie Alteri
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