New York design house of modern luxury accessories and lifestyle collection, ‘Coach’ has signed a deal with ‘Sycamore Partners’ to acquire Stuart Weitzman Holdings LLC, a leading designer and manufacturer of women’s luxury footwear.
The transaction will complement its position in premium handbags and accessories, while immediately adding to its earnings, as it continues to make meaningful progress in its brand transformation announced earlier this year, according to Coach.
Stuart Weitzman markets its products in fine specialty and department stores worldwide and in its own retail stores in the US and Europe and realised net revenues of approximately $300 million for the twelve months to September 30, 2014.
Over the last five years, Stuart Weitzman has experienced robust growth with sales growing at a 10 per cent compounded annual rate driven by distribution, e-commerce and same store sales gains.
The company has developed a global multi-channel distribution network including directly operated stores in the US and Europe, international licensed stores and shop-in-shops, and a significant global wholesale business, with the brand currently available in 70 countries.
Stuart Weitzman, creative director of Stuart Weitzman said, “In Coach, we have found a strategic partner that respects our culture, and offers the scale, resources, and global business acumen to enable us to realize our full potential.”
He also said, “We are excited to be working with the Coach team and leveraging its strong infrastructure to help us drive efficiency and expand our product mix to an even broader consumer base worldwide and look forward to supporting with our technical and merchandising expertise in footwear.”