Caleres Bolsters Portfolio with $105 Million Acquisition of Stuart Weitzman from Tapestry

In a significant shift within the fashion footwear industry, Caleres Inc. has announced a definitive agreement to acquire the renowned luxury footwear brand Stuart Weitzman from Tapestry Inc. for $105 million. This acquisition marks a strategic expansion for Caleres, known for its robust portfolio that includes Famous Footwear, Sam Edelman, and Allen Edmonds among others, and reinforces its footprint in the contemporary women’s fashion segment.

Stuart Weitzman, a brand celebrated for its artisanal craftsmanship and iconic designs, will now operate under Caleres, promising to retain its heritage of quality and style. Jay Schmidt, President and CEO of Caleres, expressed enthusiasm about integrating Stuart Weitzman into their brand family, highlighting the intent to uphold the brand’s legacy while exploring new market and product opportunities.

For Tapestry, this deal allows a sharpened focus on its primary brands, Coach and Kate Spade, following an attempt to acquire Capri last year. The move is part of Tapestry’s strategic realignment to concentrate on brands with the highest potential for value creation. Joanne Crevoiserat, CEO of Tapestry, emphasized the alignment of this divestiture with their long-term strategy to optimize their portfolio for sustained growth and enhanced shareholder value.

The transaction, which is expected to close by the summer of 2025, led to a positive market reaction, with Caleres’ stock price climbing by 3.2% following the announcement.

Investors and industry watchers will be keenly observing the integration of Stuart Weitzman into the Caleres brand portfolio, anticipating how this storied brand will evolve under new stewardship while continuing to enchant fashion aficionados around the globe.