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Coach is looking to acquire shoe brand Stuart Weitzman, the Financial Times reports. The deal would go down by the end of the year, but Coach isn't the only player hoping to buy the brand. Footwear group Brown Shoe Company is also in the mix. Stuart Weitzman is expected to be valued at between $600 and $700 million.
While Coach's sales are down this year, acquiring Stuart Weitzman would allow Coach to broaden their footwear portfolio and perhaps further transition into a lifestyle brand, FT notes. Coach recently unveiled a new look for its retail stores, as part of its new, high-end direction.
· Coach and Brown Shoe Company vie for Stuart Weitzman [FT]
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