michael kors wallet
Uncategorized / April 6, 2017

Luxury handbag and accessories company is expanding its footwear collection, buying Weitzman Holdings LLC from private equity firm Sycamore Partners for about $530 million, according to reports, Tuesday, . 6. less Acquisitions buys Weitzman is expanding its footwear collection. Inc. also make up to $44 million contingent payments to Sycamore Partners if certain revenue targets are hit during the three years after the deal closes. The deal is expected to bolster ‘s image while creating growth opportunities as it struggles to turn around its brand under new CEO , who took the post 2014. For Weitzman, the deal expand its business overseas. It’s a rare acquisition for , and while analysts praised the deal, some worry that it could be a distraction to its core business. been struggling as shoppers have defected to brands like Michael Kors and Spade for handbags that are edgier but are priced similarly.michael kors wallet has had five straight quarters of sales declines including its most recent quarter, which ended Sept. 27, when total sales were down nearly 10 percent and North American sales fell 19 percent. previously announced plans to close about 70 underperforming stores fiscal 2015. Last year, the company hired British designer…