Coach Expands Luxury Fashion Brand With Stuart Weitzman Acquisition
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Stuart Weitzman's strappy sandals have graced the feet of actresses Jennifer Lawrence and Lupita Nyong'o. The Duchess of Cambridge sports his wedge heels. Now, Coach wants in on the action. Coach, the New York-based luxury fashion house, said on Tuesday that it would buy Stuart Weitzman, the maker of midrange luxury shoes, for up to $574 million in cash. Coach also said it would retain Mr. Weitzman, the company's 72-year-old executive chairman and creative director, to lead the team whose styles have been in high demand on red carpets and in stores.