Caleres Acquires Stuart Weitzman for $105 Million: A Strategic Move in Luxury Footwear

Caleres, Inc. (NYSE: CAL), a leading footwear company, has announced the acquisition of luxury footwear brand Stuart Weitzman from Tapestry, Inc. (NYSE: TPR) for $105 million in cash. The deal, expected to close in the summer of 2025, is subject to customary adjustments and closing conditions. This strategic move aims to strengthen Caleres' position in the women's fashion footwear segment, particularly in the contemporary market.

Stuart Weitzman, founded in 1986, is renowned for its artisanal craftsmanship and precise engineering, empowering women to stand strong. The brand's signature style, quality, and fit have made it a popular choice among luxury footwear enthusiasts. With this acquisition, Caleres seeks to preserve Stuart Weitzman's legacy while driving it forward, leveraging its demonstrated best-in-class footwear capabilities to pursue category and channel growth.

Caleres' president and CEO, Jay Schmidt, expressed his admiration for Stuart Weitzman's pivotal role in shaping the footwear industry. He stated, "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." Schmidt also highlighted the acquisition's strategic importance in growing Caleres' Brand Portfolio segment, which will generate nearly half of the company's total revenue and over half of its operating profit post-integration.

Tapestry's CEO, Joanne Crevoiserat, echoed Schmidt's sentiments, emphasizing the transaction's benefits for both parties. She noted, "Stuart Weitzman is an iconic global footwear brand, whose teams have added to the passion, creativity, and craftsmanship of our organization over the last decade. Importantly, 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."

The acquisition is expected to be funded through Caleres' revolving credit agreement, with more details regarding integration plans and financial impact to be provided after the transaction closes. BofA Securities and BCLP (Bryan Cave Leighton Paisner) are serving as Caleres' financial and legal advisors, respectively. Morgan Stanley & Co. LLC and Latham & Watkins LLP are acting as Tapestry's financial and legal advisors, respectively.

Caleres expects to report consolidated net sales and earnings per diluted share in line with its most recent guidance for the year ending February 1, 2025. The company plans to report earnings on March 19, 2025, before the market opens.



In conclusion, Caleres' acquisition of Stuart Weitzman for $105 million is a strategic move that strengthens its position in the luxury footwear market. By leveraging Stuart Weitzman's global reach and direct-to-consumer infrastructure, Caleres can expand its brand portfolio and drive growth in both established and emerging markets. The acquisition also provides an opportunity for Caleres to optimize its supply chain, channel expansion, and market positioning, ultimately enhancing its competitive edge in the luxury footwear segment.