Calares To Buy Stuart Weitzman Brand From Tapestry
- Consumer Goods & Services
Fallon Wolken
- 0
- 3 minutes read
The move fuels Caleres’ strategy of gaining market share in women’s fashion footwear.
Footwear brand company Calares is set to acquire Stuart Weitzman for $105 million.
Owned by lifestyle brand company Tapestry, which includes Coach and Kate Spade New York under its umbrella, Stuart Weitzman is a designer and manufacturer of high-end shoes, boots, and sandals for women.
The move fuels Caleres’ strategy of gaining market share in women’s fashion footwear. Caleres owns such brands as Dr Scholl’s, Famous Footwear, Sam Edelman, Blowfish Malibu, and others.
“The acquisition of Stuart Weitzman advances our strategic agenda to grow our brand portfolio segment with more global and direct-to-consumer reach,” said Jay Schmidt, president and CEO of Caleres. “Stuart Weitzman will be a lead brand for Caleres, and with this combination, the brand portfolio segment will generate nearly half of our total revenue and will continue to generate over half of our operating profit.”
