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Kasper and Nine West were separate portfolio companies of Sycamore, according to the statement, which said the combination would be completed this month. Turnaround Effort Nine West is seeking to reverse a sales slump and rework about $1.5 billion of debt following Sycamores 2014 buyout. Kasper, also based in New York, would add a line of affordable suits, dresses and sportswear to Nine West, whose brand has lost some cachet in womens shoes and handbags. But apparel retailers also have been struggling as shoppers shifted their spending toward experiences. Its no game-changer at all, S&P Global Ratings analyst Jerry Phelan said, referring to the Kasper purchase. Theyve got bigger problems to deal with. The company faces a daunting maturity wall in 2019. Debt coming due that year includes a term loan, asset-backed revolver, and unsecured bonds. Smaller and slower apparel companies that loaded up on debt during leveraged buyouts are struggling to keep up with new competitors online and in fast fashion. Companies like Nine West are short on cash and long on obligations, leaving them unable to make the frequent investments needed to keep their offerings and business models up to date. Still, the acquisition could help Nine West in the short term.

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