NEW YORK (Reuters) – Footwear retailer Brown Shoe Company Inc is in contention to acquire women’s luxury shoe retailer Stuart Weitzman Holdings LLC, in a deal that could reach $1 billion, three people familiar with the matter said on Tuesday.
Brown Shoe is competing against other potential suitors, that include private equity firms and financial investors, for Stuart Weitzman, the people said. An outcome in the auction for Stuart Weitzman is expected this month, the people added.
Buyout firm Sycamore Partners, the owner of Stuart Weitzman, has been working with Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) and Citigroup Inc (C.N: Quote,Profile, Research, Stock Buzz) on the sale of the company, Reuters reported in August.
The sources asked not to be identified because the sale process is confidential. Representatives for Sycamore declined to comment. Representatives for Brown and Stuart Weitzman did not respond to requests for comment.