Pursuits
Coach Buys Luxury Shoemaker Stuart Weitzman for $574 Million
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Coach Inc. agreed to buy designer footwear company Stuart Weitzman for as much as $574 million, part of an an effort to revamp the luxury handbag maker’s image amid declining sales and increased competition.
Private-equity firm Sycamore Partners is selling the unit, which will add to earnings immediately, New York-based Coach said in a statement today.