Is Brown Shoe Co. close to adding another big brand to its roster?
Reports surfaced on Tuesday that the St. Louis-based company is pursuing Stuart Weitzman, which was reportedly put up for sale several months ago by Sycamore Partners. Weitzman was sold to Sycamore earlier this year as part of the larger Jones Group deal.
Brown CEO Diane Sullivan has been actively seeking new acquisitions, and Weitzman could give the company a bigger share of the accessible luxury market.
Coach, meanwhile, could also be a good fit given its leadership position in the sector. The company has been challenged of late, and Stuart Weitzman could be a good growth driver for the firm.
Some financial sources have pegged the value of a potential deal at around $1 billion, according to The Financial Times.