Tapestry completes sale of Stuart Weitzman to Caleres

Tapestry, Inc., the parent company of brands such as Coach and Kate Spade New York, has completed the sale of its Stuart Weitzman brand to Caleres, a portfolio of footwear brands. The all-cash deal, valued at 105 million dollars, was announced in February this year and marks a strategic move for both companies.

For Caleres, the acquisition of Stuart Weitzman aligns with its goal of cementing its "leadership position in women’s fashion footwear." The brand, known for its luxury women's footwear, will be a key addition to Caleres's portfolio, which already includes brands like Vince and Veronica Beard.

Morgan Stanley & Co. LLC served as Tapestry, Inc.’s financial advisor and Latham & Watkins LLP was its legal advisor. BofA Securities served as Caleres’s financial advisor and BCLP (Bryan Cave Leighton Paisner) as its legal advisor.