Tapestry close to selling Stuart Weitzman brand – report

Tapestry ( NYSE: TPR) is close to a sale of its Stuart Weitzman brand name, according to a Shoes Report on Friday, which mentioned several unknown sources.

The sale comes as Tapestry (TPR), the owner of Coach and Kate Spade, is set to fight in court with Federal Trade Commission on Monday over the regulator’s effort to obstruct its prepared $8.5 billion purchase of Capri Holdings ( CPRI), whose brand names consist of Michael Kors, Versace and Jimmy Choo.

A sale of Stuart Weitzman might assist Tapestry (TPR) fund the Capri (CPRI) offer and reject a company that has actually had a hard time just recently, according to the report. Even before the FTC challenged the Capri mix, there was speculation that Tapestry would discharge smaller sized brand names to attempt to assist spend for the acquisition and concentrate on bigger brand names.

Coach bought Stuart Weitzman in 2015 from personal equity from Sycamore Partners for $574 million.