Caleres, which operates a portfolio of footwear brands, announces that it has signed a definitive agreement to acquire Stuart Weitzman from Tapestry Inc. for $105 million, subject to customary adjustments.
Caleres Announces Definitive Agreement to Acquire Stuart Weitzman from Tapestry. Image: Stuart Weitzman
The acquisition strengthens Caleres’ leadership position in women’s fashion footwear, particularly in the contemporary segment.
The transaction is expected to close in the summer of 2025, and Caleres will fund the acquisition through the company’s revolving credit agreement. BofA Securities is serving as Caleres’s financial advisor and Bryan Cave Leighton Paisner is its legal advisor. Morgan Stanley and Co. LLC is serving as Tapestry, Inc.’s financial advisor and Latham and Watkins LLP is its legal advisor.
Due to the timing of this announcement, Caleres is providing a financial report for the year ending February 1, 2025 on March 19, 2025, before the market opens.
Stuart Weitzman combines its artisanal craftsmanship and precise engineering to empower women who are confident, bold and, above all, strong. Founder Stuart Weitzman grew up apprenticing under his father at the Mr. Seymour shoe factory in Haverhill, Massachusetts. In 1986, he launched his eponymous brand and makes most of his collections in Elda, Spain, a region recognised for its artisanal shoemaking.
Stuart Weitzman combines artisanal craftsmanship and precise engineering to create shoes that empower women. Image: Stuart Weitzman
“I have long admired Stuart Weitzman for the brand’s pivotal role in shaping the footwear industry. As we bring this iconic brand into the Caleres portfolio, we are committed to preserving its legacy of craftsmanship, quality and fit while driving it forward,” said Jay Schmidt, President and CEO of Caleres.
“The acquisition of Stuart Weitzman advances our strategic agenda to grow our Brand Portfolio segment with more global and direct-to-consumer reach. 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.”
Joanne Crevoiserat, Chief Executive Officer of Tapestry, Inc., added, “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.”
About Caleres
As a global footwear company, home to a diverse portfolio of brands that includes Famous Footwear, Sam Edelman, Allen Edmonds, Naturaliser and Vionic, Caleres has been ferocious about fit since 1878. The Caleres story is most simply defined by the company’s mission: Inspire people to feel great.. .feet first. The products are available in 1,000+ retail stores, in hundreds of department and specialty stores, on its fifteen e-commerce sites, and on third-party retail sites.
Per the official website, ‘Our long-standing pledge to quality craftsmanship includes creating sustainable and lasting value for all our stakeholders. What it really comes down to is caring – about people, ethics and integrity, our shared planet, and about healthy financial performance. Caring is so integral to our business that we champion it as one of our core company values.’
Home to a diverse portfolio of brands, Caleres has been ferocious about fit since 1878. Image: Caleres
About Tapestry, Inc.
Tapestry’s global house of brands unites the magic of Coach, Kate Spade New York and Stuart Weitzman. Each of the brands are unique and independent, while sharing a commitment to innovation and authenticity defined by distinctive products. The firm uses its collective strengths to empower its communities, to make the fashion industry more sustainable, and to build a company that’s equitable, inclusive, and diverse. Individually, its brands are iconic. Together, they can stretch what’s possible.
Per Time magazine, ‘Home to Coach, Kate Spade New York, and Stuart Weitzman, it bought Capri Holdings, bringing in powerhouse brands Versace, Jimmy Choo, and Michael Kors. The Federal Trade Commission is challenging the move, saying it would make the company too “dominant” and “entrench its foothold.” …The company has also been adroit in adapting to consumer trends and developing a strong e-commerce strategy, tapping into generative AI to fine-tune its online personalisation.’
Jasmeen Dugal is Associate Editor at FashionABC, contributing her insights on fashion, technology, and sustainability. She brings with herself more than two decades of editorial experience, working for national newspapers and luxury magazines in India.
Jasmeen Dugal has worked with exchange4media as a senior writer contributing articles on the country’s advertising and marketing movements, and then with Condenast India as Net Editor where she helmed Vogue India’s official website in terms of design, layout and daily content. Besides this, she is also an entrepreneur running her own luxury portal, Explosivefashion, which highlights the latest in luxury fashion and hospitality.
