Footwear expert Caleres has reached an agreement to acquire Stuart Weitzman shoe brand from Tapestry for a bargain price of $105 million. It's a win/win for both companies.

Global fashion house Tapestry has agreed to sell its luxury footwear brand, Stuart Weitzman, to Caleres in $105m cash deal. With this acquisition, Caleres strengthens its leadership in women’s fashion footwear while Tapestry will sharpen focus to fuel growth at Coach and Kate Spade.

The news comes just months after a federal judge blocked Tapestry’s planned $8.5 billion acquisition of Michael Kors parent Capri Holdings Ltd.

Tapestry is selling off Stuart Weitzman to Famous Footwear and Sam Edelman parent Caleres for $105 million in cash.

The deal reflects a new narrative for Tapestry, which will now focus on its Coach and Kate Spade brands after its unsuccessful attempt to purchase Capri last year.

Tapestry has sold Stuart Weitzman to Caleres (the group that owns Sam Edelman and Famous Footwear, along with the footwear licences for Veronica Beard and Vince) for $105 million in cash. The deal is expected to be finalised this summer, subject to closing conditions.

Tapestry, Inc. TPR, a house of iconic accessories and lifestyle brands, has announced a definitive agreement to sell its Stuart Weitzman brand to Caleres, Inc. CAL for $105 million in cash. The transaction is expected to close in the summer of 2025.

Shares of Tapestry Inc. slipped 0.3% in after-hours trading on Wednesday after the company’s announcement that it plans to sell the footwear brand Stuart Weitzman to Caleres (CAL) for $105 million in cash,

Caleres (NYSE:CAL) shot higher in Wednesday trading after striking a deal to acquire the Stuart Weitzman brand from Tapestry (TPR) for $105 million. Moving forward, Stuart Weitzman will be a lead brand for Caleres (NYSE:CAL).