Gastronomic-Paradise

Stuart Weitzman brand officially changes hands from Tapestry to Caleres in sale completion

Upon shedding its footwear subsidiary, the parent company of Coach will prioritize its primary focus on its successful handbag division, which has shown greater potential for the company.

, and Administrator

2025 September 8 . 4:16 AM

1 min read

Stuart Weitzman brand has been sold to Caleres, as per the completed transaction by Tapestry.

Stuart Weitzman brand officially changes hands from Tapestry to Caleres in sale completion

Tapestry Sells Stuart Weitzman to Caleres for $120.2 Million

In a significant move, Tapestry Inc., the parent company of Coach and Kate Spade, has sold its luxury footwear brand Stuart Weitzman to Caleres for $120.2 million. The deal, initially announced in February, was finalised recently.

The sale comes after Tapestry's focus shifted towards its larger brands, Coach and Kate Spade. With the acquisition, Caleres' Brand Portfolio segment will represent nearly half of its total revenue going forward.

Caleres, known for owning Famous Footwear, Sam Edelman, and Allen Edmonds, has appointed Jonathan Lelonek as the new brand president of Stuart Weitzman. Lelonek was previously the senior vice president for Stuart Weitzman wholesale under Tapestry.

In Tapestry's most recent earnings report, Stuart Weitzman's revenue fell 18% to $46 million. The brand represented about 3% of Tapestry's total sales, but the company's overall revenue grew 7% year over year, led by Coach.

The sale included $11.5 million in cash received at closing. Tapestry first acquired Stuart Weitzman in 2015 for about $530 million, indicating a significant decrease in value over the past six years.

The agreement between Tapestry and Capri Holdings, which was terminated last year, was not mentioned in the current paragraph. Additionally, no new information about the Federal Trade Commission's lawsuit to block a potential acquisition by Tapestry of Capri Holdings was provided.

In response to the challenging operating environment, Jay Schmidt, president and CEO of Caleres, has stated that the company will redouble its efforts to drive growth and profitability.

Caleres reported Q1 sales of $614.2 million in May, down 6.8% year over year and below its expectations. Despite the decline, the company remains optimistic about its future with the addition of Stuart Weitzman to its portfolio.