Accessories retailer Coach said it would buy luxury footwear - TopicsExpress



          

Accessories retailer Coach said it would buy luxury footwear company Stuart Weitzman Holdings from private equity firm Sycamore Partners in a deal valued at up to $574 million. Coach said it would make initial cash payment of about $530 million to Sycamore Partners. Coach will also pay up to $44 million in contingent payments to Sycamore Partners on achievement of certain revenue targets over the three years after the acquisition closes. New York-based Coach, known for its Poppy handbags, has struggled to keep up with its fast-growing affordable luxury competitors, particularly Kate Spade & Co. and Michael Kors Holdings, whose handbags are rapidly gaining popularity in North America.
Posted on: Mon, 19 Jan 2015 18:21:03 +0000

Trending Topics



Recently Viewed Topics




© 2015