Jones Apparel has agreed to pay $180 million in exchange for a 55-percent stake in Stuart Weitzman, a maker of upscale shoes and accessories for women. The New York-based owner of Nine West and Anne Klein paid cash for the stake, which had been held by an investing group led by Irving Place Capital. Designer and Chairman Stuart Weitzman will sell his remaining stake to Jones in 2012, according to the terms of the agreement.
The deal — which confirms an April 29 report in The Post — is the latest in a series of smaller, higher-end designers acquired by Jones, which have also included Rachel Roy and Robert Rodriguez.