Fashion retailer Tapestry has sold Stuart Weitzman to Caleres for $105 million in a deal expected to close this summer.
As part of the company’s plans, Tapestry will invest its resources in the other brands under its portfolio, Coach and Kate Spade.
Tapestry previously acquired the luxury footwear company for $530 million in 2015 and sold it for a fraction of its price, signifying a disappointing financial outcome.
Stuart Weitzman saw its revenue drop by 15% in Q2 of the 2025 fiscal year, due to decreasing demand in China and North America.
Joanne Crevoiserat, CEO of Tapestry, said: “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.
“At Tapestry, this means harnessing our position of strength to sustain Coach’s leadership and momentum while reinvigorating Kate Spade to drive durable organic growth and shareholder value.”
Footwear retailer Caleres plans to utilize the acquisition as a potential business turnaround, with Q3 2025 earnings quarterly revenue dropping by 2.8% to $740.90 million.
Jay Schmidt, CEO and president of Caleres, added: “The acquisition of Stuart Weitzman advances our strategic agenda to grow our brand portfolio segment with more global and direct-to-consumer reach.
“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.”
Despite the declining revenue sales of Stuart Weitzman, Tapestry reported record annual growth in Q2 of 2025.
The company saw its revenue rise by 5% to $2.2 billion, bolstered by a 10% growth rate at its core brand, Coach.
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