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Starting this summer, 30-year shoe veteran Stuart Weitzman will be making bags to match. The company recently signed a licensing deal with Mosaicon SpA to design, produce and distribute a line of handbags and small leather goods that will "reflect the brand's contemporary yet classic style." The bags run from $395 to $595.
Weitzman says he believes the recession created good opportunities to move into new ventures, especially for products with a lower price point. "Recessions have always opened up opportunities for people who like to be a little aggressive in their business," he told WWD. "When everything is fantastic, it's hard to find a new opening. People are doing well with all they've got. When things changed last year, opportunities arose and we began to see a real demand for a price-value relationship."
· Stuart Weitzman Entering Handbag Market [WWD, subscription required]