Companies

Tapestry sells Stuart Weitzman to Caleres

Feb 20, 2025 United States

The US-based luxury group has entered into a definitive agreement to sell Stuart Weitzman to Caleres, the group that owns Sam Edelman and Famous Footwear, for 105 million USD in cash

Reports that Tapestry was considering selling Stuart Weitzman in a bid to streamline its brand portfolio have been confirmed. The luxury footwear label will be acquired by Caleres for 105 million US dollars, allowing Tapestry to focus on Coach and Spade. For some time now, Stuart Weitzman has been the underperformer in the portfolio, most recently with second quarter sales down by 16% year-on-year.

“(…) 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”, said Joanne Crevoiserat, Chief Executive Officer of Tapestry

According to Jay Schmidt, President and CEO of Caleres, the acquisition of Stuart Weitzman will contribute to the company’s agenda of expanding its brand portfolio segment. “Stuart Weitzman will be a lead brand for Caleres, and with this combination the Brand Portfolio segment will generate nearly half of our total revenue and will continue to generate over half of our operating profit. We will leverage our demonstrated, best-in-class footwear capabilities while pursuing category and channel growth”, he commented.

The deal is expected to close in the summer, after which Caleres will provide further details on its integration plans and the financial impact of the acquisition.

Image Credits: yournextshoes.com

United States Acquisitions Caleres Footwear Stuart Weitzman Tapestry