Coach Is Buying Stuart Weitzman for $530 Million

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Photo: Bloomberg/Getty Images

In the fashion-world equivalent of "Wonder Twins, powers activate!," Coach is making a huge acquisition. CNBC reports that the fashion and accessories giant is buying Stuart Weitzman Holdings from its parent company, Sycamore Partners, for a total of $530 million — an amount that could net you about 880,000 pairs of 50/50 boots. Coach could also end up paying Sycamore Partners an additional $44 million in contingent payments over the next three years. As for Weitzman, the company has already upped its high-fashion cred with a Julia Restoin-Roitfeld–helmed film — could more of the same be on the way?