Caleres Acquires Stuart Weitzman for $120.2 Million, Expanding Luxury Footwear Portfolio

Caleres completes acquisition of Stuart Weitzman for $120.2 million, adding a luxury footwear brand to its portfolio. The acquisition strengthens Caleres' position in the global footwear market and expands its brand portfolio. Caleres expects to leverage its capabilities to return the brand to profitability by the end of the fiscal year.

St. Louis-based Caleres Inc. (NYSE: CAL) has closed its acquisition of the luxury footwear brand Stuart Weitzman from Tapestry Inc. for $120.2 million, including $11.5 million in cash received at the closing. The net purchase price, excluding cash, was $108.7 million [1]. This strategic move further solidifies Caleres' position in the global footwear market and expands its diverse brand portfolio.

The acquisition was announced in February 2025 and is expected to enhance Caleres' market share and profitability. Stuart Weitzman, known for its iconic designs and artisanal craftsmanship, generated trailing 12-month sales of approximately $220 million and maintains a strong presence in North America, Europe, and Asia through both wholesale and direct-to-consumer channels [1].

Jonathan Lelonek, who joined Stuart Weitzman in 2012 and most recently served as SVP of global wholesale, has been named brand president. Lelonek brings extensive industry experience and a strong track record in luxury and contemporary footwear, having previously held senior roles at Prada, Salvatore Ferragamo, and Paul Frank [1].

Caleres expects to leverage its capabilities and expertise in footwear to return Stuart Weitzman to profitability by the end of the fiscal year. The acquisition was funded through Caleres' revolving credit agreement, with BofA Securities serving as financial advisor and Bryan Cave Leighton Paisner acting as legal counsel [1].

The addition of Stuart Weitzman to Caleres' portfolio is expected to represent nearly half of the company's total revenue going forward. Caleres remains committed to preserving the artistry, quality, and renowned fit that have defined the Stuart Weitzman brand [1].

Caleres is expected to provide additional details on integration plans and business guidance when it reports second quarter results in early September. For the first quarter ended May 3, the company reported a net income of $6.9 million on a 6.8 percent decline in net sales to $614.2 million [2].

References:
[1] https://www.stocktitan.net/news/CAL/caleres-completes-acquisition-of-stuart-weitzman-accelerating-brand-msvvcvc0xb03.html
[2] https://wwd.com/footwear-news/shoe-industry-news/caleres-stuart-weitzman-womens-shoe-portfolio-acquisitions-1238027020/