Tapestry Closes Deal: Stuart Weitzman Sold to Caleres

Tapestry is definitively disassociating itself from Stuart Weitzman. The American conglomerate, owner of brands such as Coach and Kate Spade, has sealed the sale of its footwear brand to Caleres, one of the largest operators in this sector on an international scale.

The deal was announced in February this year and is valued at $105 million. In 2015, Tapestry acquired Stuart Weitzman from private equity fund Sycamore Partners for $574 million.

With this move, Caleres is trying to consolidate in women’s footwear, where it already operates Vince and Veronica Beard. The sale follows the Federal Trade Commission’s blocking of Tapestry’s purchase of Capri (owner of Michael Kors) to prevent the creation of a U.S.-based luxury giant.

Tapestry announced the sale in February and materializes this summer for $105 million

In May, Tapestry raised guidance for the third time in the current fiscal year. The company is now taking advantage of its low exposure to changes in U.S. tariff policy and higher full-price sales of its flagship brand handbags.

The group, which at the beginning of the year began a divestment process to focus on Coach (after the failed merger with Capry and of which the sale of Stuart Weitzman is a direct consequence), closed the third quarter ended March of this year with sales of 1.585 million dollars, an increase of 6.89% over the same period of 2024.

The company’s gross profit, meanwhile, rose by 8.89% to 1.206 billion dollars, while net profit soared by 45.84% to $203 million. In the first nine months of the year, the company accumulated growth of 4.07% to $5.28 billion. Gross profit rose by 7.44% and net profit by 6.64%.

According to the latest available data, Coach is the only brand with a positive performance. Meanwhile, both Kate Spade and Stuart Weitzman contracted by 13% and 18%, respectively.