The famous handbag and accessories brand Coach is expanding its reach by purchasing luxury footwear label Stuart Weitzman. Coach is well known for their footwear, handbags and other small leather goods and their offerings have even been miniaturized for the world’s tiniest fashionista- the Barbie Doll. However as competitors like Michael Kors and Kate Spade quickly taking over the market, the brand is now looking to increase their stake and widen their reach.
Stuart Weitzman’s Nudist pump was undoubtedly the celebrity shoe of 2014, becoming a cult favorite with bloggers, editors, models and other red carpet regulars; Stuart Weitzman Holdings had a revenue of about $300 million by the 30th of September last year. Perhaps is hoping to cash in on the shoe label’s fifteen minutes of fame.
The acquisition is a first from Coach and has drawn some criticism; analysts say the purchase is unnecessary and distracting and is likely to shift the brand’s focus from its core business of handbags.
Coach debuted a footwear collection for men last year, so it looks like 2015 will be the year of shoes over at this company. As Stuart Weitzman will remain the chairman of his namesake company, we don’t predict any changes in the brand’s aesthetic and design as of now. But as rival brands continue to slash prices and introduce trendier bags and shoes, it will be interesting to see if Coach can keep up with the competition this year.
[Via – Reuters]