NEW YORK — Stuart Weitzman, one of the biggest suppliers of shoes to Bloomingdale’s, Saks Fifth Avenue and Nordstrom, among other stores, wants to bring in a private equity partner to propel growth.
The company is working with Bear Stearns on partnering with a private equity firm, said sources with knowledge of the matter. Stuart Weitzman is the owner and designer of the eponymous firm. “He’ll still control the company,” a source said.
The volume of the Stuart Weitzman company is estimated at $300 million to $400 million at retail. The company sells to stores in about 50 countries, with most of the volume in Europe and the U.S. Aside from wholesaling, Stuart Weitzman operates 15 stores. The brand’s first store opened on Madison Avenue and 59th Street here about 12 years ago.
“It’s not surprising that you’ve heard rumors because Stuart has been talking on and off to several people and companies for a few years in order to see what the options were for expanding his business,” Jane Weitzman, executive vice president of retail, told WWD. “You’re guess is as good as mine whether anything will happen.” She is also the wife of Stuart Weitzman.
Weitzman offers a range of shoes and price points starting in the $200 range and going as high as about $2,000. The brand is known for its creative and quirky windows, often displaying “shoe art” rather than any of the actual product sold in the stores. The art is considered to be fantasy shoes created by artists in unconventional materials and shapes, or artwork themed around shoes.