Based on several sources, industry magazine Footwear News reports that the fashion holding company Tapestry is about to sell the luxury shoe brand Stuart Weitzman. In addition, according to the Stuart Weitzman brand CEO Giorgio Sarné is said to have left the company.
Tapestry specializes in investments in the fashion sector and, in addition to Staurt Weitzman, holds the brands Coach and Kate Spade in its portfolio. On Monday, Tapestry will defend its planned $8.5 billion takeover of Capri Holdings, owner of Michael Kors, Versace and Jimmy Choo, in federal court in Manhattan after a blockade by the Federal Trade Commission.
Tapestry declined to comment on the report to Footwear News.