Coach nears deal to buy Stuart Weitzman

Handbags and accessories retailer Coach is nearing a deal to buy shoe company Stuart Weitzman, according to media reports, citing people familiar with the matter.

A deal could be announced as soon as this week. Coach will pay in the 600 million dollar range for the upscale shoe brand, the reports said.

Private-equity firm Sycamore Partners is selling Stuart Weitzman, which is one of several brands it inherited when it took Jones Group private last year. At the time, Sycamore paid 1.2 billion dollars for a collection of brands that included Jones New York apparel, Easy Spirit, Nine West and Stuart Weitzman. (dpa-AFX)