Caleres to acquire Stuart Weitzman from Tapestry for $105m.

Caleres, a portfolio of consumer-driven footwear brands, agreed to acquire Stuart Weitzman, a global luxury footwear brand, from Tapestry, a house of iconic accessories and lifestyle brands, for $105m. “Stuart Weitzman is an iconic global footwear brand, whose teams have added to the passion, creativity, and craftsmanship of our organization over the last decade. Importantly, as diligent stewards of our portfolio and disciplined allocators of capital, this transaction ensures that all our brands are positioned for long-term success and that we maintain a sharp focus on our largest value creation opportunities. At Tapestry, this means harnessing our position of strength to sustain Coach’s leadership and momentum while reinvigorating Kate Spade to drive durable organic growth and shareholder value. At the same time, we are pleased that we found Stuart Weitzman a home in Caleres – an ideal owner to guide its next chapter of growth,” Joanne Crevoiserat, Tapestry CEO.