Arab Today, arab today coach to buy luxury footwear maker stuart weitzman
Last Updated : GMT 21:53:08
Arab Today, arab today
Arab Today, arab today

Coach to buy luxury footwear maker Stuart Weitzman

Arab Today, arab today

Arab Today, arab today Coach to buy luxury footwear maker Stuart Weitzman

Designer Stuart Weitzman
New York - AFP

US fashion accessories company Coach said on Tuesday it would buy luxury footwear maker Stuart Weitzman in a deal worth up to $574 million to expand its luxury business.
Coach, known for its high-end leather handbags, said it will pay $530 million in cash to private-equity firm Sycamore Partners for Stuart Weitzman Holdings.
Coach could additionally pay up to $44 million depending on the shoemaker hitting certain revenue targets over the three years following the takeover.
The transaction is expected to close by May and immediately add to earnings, Coach said.
"Stuart Weitzman is a leading American luxury designer footwear brand with a solid growth trajectory and further significant domestic and international development potential," said Victor Luis, Coach chief executive, in the statement.
Stuart Weitzman had about $300 million in net revenues for the fiscal year ended September 30, with sales growing at a 10 percent compounded annual clip over the past five years.
The company's shoes are sold in 70 countries, and it has 118 retail outlets, including 47 in the United States.
Founder Stuart Weitzman will remain as creative director and chairman of the company.
Coach shareholders appeared to welcome the news, sending shares up 0.9 percent to $37.07 in early trade on the New York Stock Exchange.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today coach to buy luxury footwear maker stuart weitzman Arab Today, arab today coach to buy luxury footwear maker stuart weitzman

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today coach to buy luxury footwear maker stuart weitzman Arab Today, arab today coach to buy luxury footwear maker stuart weitzman

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday