Coach Parent Tapestry Sells Stuart Weitzman to Caleres for $105 Million
Coach's parent company, Tapestry, has announced the sale of its Stuart Weitzman brand to footwear giant Caleres, the owner of Dr. Scholl's, for $105 million in cash.
The divestment follows the abandoned $8.5 billion merger between Tapestry and Michael Kors-owner Capri after a legal challenge.
"Stuart Weitzman will become a leading brand for Caleres, and this combination will drive our brand portfolio segment to generate almost half of our revenue and continue delivering over half of our operating income," said Caleres CEO Jay Schmidt.
Tapestry's recent sales performance saw strong demand for Coach's Tabby handbags, while Kate Spade and Stuart Weitzman trailed behind.
The deal is expected to conclude in the summer of 2025.