Tapestry to Sell Stuart Weitzman to Caleres for $105M

Author

Slice of Retail Team
February 26, 2025

Key Highlights:

  • Tapestry, Inc. (NYSE: TPR) announces the sale of Stuart Weitzman to Caleres (NYSE: CAL) for $105 million in cash.

  • The sale aligns with Tapestry’s strategy to focus on Coach and Kate Spade for long-term value creation.

  • Caleres to integrate Stuart Weitzman into its portfolio, enhancing global and direct-to-consumer reach.

  • The deal is expected to close in summer 2025, subject to customary conditions.

  • Financial advisors: Morgan Stanley (Tapestry), BofA Securities (Caleres).

Source: Business Wire

Notable Quotes:

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"This transaction ensures all our brands are positioned for long-term success, allowing us to focus on Coach and reinvigorate Kate Spade while Stuart Weitzman finds a great home with Caleres."

Joanne Crevoiserat, CEO at Tapestry, Inc
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"Stuart Weitzman will be a lead brand for Caleres, and we are committed to preserving its legacy while driving future growth."

Jay Schmidt, President & CEO at Caleres

Why This Matters:

This sale marks a strategic shift for Tapestry, sharpening its focus on its core brands—Coach and Kate Spade—while ensuring Stuart Weitzman continues to grow under Caleres’ leadership. For Caleres, the acquisition strengthens its luxury footwear portfolio and enhances its global footprint, reinforcing its leadership in the consumer-driven footwear market.