Coach, Inc., said Monday that it has completed the acquisition of Stuart Weitzman Holdings LLC, the women’s luxury footwear firm, from Sycamore Partners.

Coach made initial cash payments of about $530 million to Sycamore. In addition, Coach will make up to $44 million in contingent payments to Sycamore upon the successful achievement of certain revenue targets over the three years following the closing of the acquisition.

Coach financed the transaction with cash on hand. The acquisition is expected to be accretive to earnings per share, exclusive of transaction-related charges, including anticipated purchase accounting adjustments and contingent payments related to the transaction.

Stuart Weitzman will continue as creative director and executive chairman of Weitzman, and Wayne Kulkin remains chief executive officer of Weitzman. Coach noted that Weitzman’s management team remains fully committed to the growth of the business.

Weitzman generated net revenues of $313 million for the 12 months ended Dec. 31, 2014.