Reports have broken about a potential sale for shoe retailer Stuart Weitzman. The women´s shoes retailer would be allegedly preparing to launch a sale process with the help of Goldman Sachs Group Inc and Citigroup Inc.
Sources familiar with the matter quoted by Reuters also said that the sale could value the New York-based retailer at as much as 1 billion dollars. Other market sources point out at a 800 million dollars price tag.
If the sale goes through, it would be the second for Stuart Weitzman in the year to date, as Sycamore Partners, the private equity firm that currently owns Stuart Weitzman, acquired the brand as part of its 2.2 billion dollars purchase of Jones Group Inc earlier this year.
As reported by Reuters, these plans remain private and representatives for Stuart Weitzman , Sycamore Partners, Citigroup and Goldman Sachs have declined to comment.
The planned divestiture of Stuart Weitzman would be prompted as Sycamore Partners eyes other takeover targets, adds Reuters.