Footwear expert Caleres has reached an agreement to acquire Stuart Weitzman shoe brand from Tapestry for a bargain price of $105 million. It's a win/win for both companies.

The deal reflects a new narrative for Tapestry, which will now focus on its Coach and Kate Spade brands after its unsuccessful attempt to purchase Capri last year.

(Reuters) -Coach parent Tapestry will sell its Stuart Weitzman brand to Dr Scholl's footwear owner Caleres for $105 million in cash, the companies said on Wednesday.

Tapestry has struck a deal to sell its Stuart Weitzman shoe brand to footwear seller Caleres for $105 million in cash.

Caleres (NYSE: CAL), a market-leading portfolio of consumer-driven footwear brands, today announced it has signed a definitive agreement to acquire Stuart Weitzman from Tapestry, Inc. (NYSE: TPR), a house of iconic accessories and lifestyle brands,

Tapestry has sold Stuart Weitzman to Caleres (the group that owns Sam Edelman and Famous Footwear, along with the footwear licences for Veronica Beard and Vince) for $105 million in cash. The deal is expected to be finalised this summer, subject to closing conditions.

Tapestry, Inc. TPR, a house of iconic accessories and lifestyle brands, has announced a definitive agreement to sell its Stuart Weitzman brand to Caleres, Inc. CAL for $105 million in cash. The transaction is expected to close in the summer of 2025.

Tapestry CEO Joanne Crevoiserat stated: "Stuart Weitzman is an iconic global footwear brand, whose teams have added to the passion, creativity and craftsmanship of our organisatio

Shares of Tapestry Inc. slipped 0.3% in after-hours trading on Wednesday after the company’s announcement that it plans to sell the footwear brand Stuart Weitzman to Caleres (CAL) for $105 million in cash,

Caleres (NYSE:CAL) shot higher in Wednesday trading after striking a deal to acquire the Stuart Weitzman brand from Tapestry (TPR) for $105 million. Moving forward, Stuart Weitzman will be a lead brand for Caleres (NYSE:CAL).