According to Footwear News, Tapestry is reportedly close to selling its Stuart Weitzman brand. The sale comes as Tapestry is preparing to face the Federal Trade Commission over its attempt to stop the $8.5 billion purchase of Capri Holdings Limited.
Seeking Alpha commented that the sale of Stuart Weitzman may help Tapestry fund the Capri deal.
Capri’s share price has tumbled over 30 percent year-to-date amid the takeover turbulence while Capri is up over 10 percent. The FSW High Frequency Luxury Monitor All Luxury index is down around 5 percent.