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Cultura

Coach to buy luxury shoe maker Stuart Weitzman


    (Reuters) - Coach Inc said it would buy luxury footwear company Stuart Weitzman Holdings LLC from private equity firm Sycamore Partners in a deal valued at up to $574 million.

    COACH (COH.NY)aid 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.

    (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Kirti Pandey)