Coach Is Buying Luxury Shoe Maker Stuart Weitzman For $574 Million

A shopping bag from the luxury brand Coach is seen along Rodeo Drive in Beverly Hills, California, May 21, 2013. REUTERS/Fred ProuserThomson ReutersA shopping bag from the luxury brand Coach is seen along Rodeo Drive in Beverly Hills

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 $US574 million.

Coach said it would make initial cash payment of about $US530 million to Sycamore Partners.

Coach will also pay up to $US44 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)

More from Reuters:

This article originally appeared at Reuters. Copyright 2015. Follow Reuters on Twitter.

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.