Tapestry, Inc. Enters Into Definitive Agreement to Sell Stuart Weitzman Brand to Caleres
Tapestry Inc. (NYSE: TPR) has announced the sale of its Stuart Weitzman brand to Caleres (NYSE: CAL) for $105 million in cash, subject to customary adjustments. The transaction is expected to close in summer 2025.
This strategic move allows Tapestry to focus on its largest value creation opportunities, particularly sustaining Coach's leadership and reinvigorating Kate Spade. For Caleres, Stuart Weitzman will become a lead brand, advancing their strategic agenda to grow their Brand Portfolio segment with more global and direct-to-consumer reach. Post-integration, the Brand Portfolio segment is expected to generate nearly half of Caleres' total revenue and over half of their operating profit.
Tapestry Inc. (NYSE: TPR) ha annunciato la vendita del suo marchio Stuart Weitzman a Caleres (NYSE: CAL) per 105 milioni di dollari in contante, soggetto a regolazioni consuete. Si prevede che la transazione si concluda nell'estate del 2025.
Questa mossa strategica consente a Tapestry di concentrarsi sulle opportunità di creazione di valore più significative, in particolare nel mantenere la leadership di Coach e nel rinvigorire Kate Spade. Per Caleres, Stuart Weitzman diventerà un marchio principale, avanzando la loro agenda strategica per espandere il segmento del Portafoglio di Marchi con una maggiore portata globale e diretta al consumatore. Dopo l'integrazione, si prevede che il segmento del Portafoglio di Marchi generi quasi la metà del fatturato totale di Caleres e oltre la metà del loro profitto operativo.
Tapestry Inc. (NYSE: TPR) ha anunciado la venta de su marca Stuart Weitzman a Caleres (NYSE: CAL) por 105 millones de dólares en efectivo, sujeta a ajustes habituales. Se espera que la transacción se cierre en el verano de 2025.
Este movimiento estratégico permite a Tapestry centrarse en sus mayores oportunidades de creación de valor, particularmente en mantener el liderazgo de Coach y revitalizar Kate Spade. Para Caleres, Stuart Weitzman se convertirá en una marca principal, avanzando su agenda estratégica para hacer crecer su segmento de Portafolio de Marcas con un mayor alcance global y directo al consumidor. Tras la integración, se espera que el segmento de Portafolio de Marcas genere casi la mitad de los ingresos totales de Caleres y más de la mitad de su beneficio operativo.
타페스트리(Tapestry Inc.) (NYSE: TPR)는 스튜어트 웨이츠먼(Stuart Weitzman) 브랜드를 칼레레스(Caleres) (NYSE: CAL)에 1억 500만 달러에 현금으로 판매한다고 발표했습니다. 이 거래는 일반적인 조정에 따라 진행됩니다. 거래는 2025년 여름에 마감될 것으로 예상됩니다.
이 전략적 조치는 타페스트리가 코치(Coach)의 리더십을 유지하고 케이트 스페이드(Kate Spade)를 재활성화하는 등 가장 큰 가치 창출 기회에 집중할 수 있게 합니다. 칼레레스에게 스튜어트 웨이츠먼은 주요 브랜드가 되어, 브랜드 포트폴리오 세그먼트를 세계적으로 더 많이 성장시키고 소비자에게 직접 다가가는 전략적 의제를 추진할 것입니다. 통합 후, 브랜드 포트폴리오 세그먼트는 칼레레스의 총 수익의 거의 절반과 운영 이익의 절반 이상을 생성할 것으로 예상됩니다.
Tapestry Inc. (NYSE: TPR) a annoncé la vente de sa marque Stuart Weitzman à Caleres (NYSE: CAL) pour 105 millions de dollars en espèces, sous réserve des ajustements habituels. La transaction devrait se clôturer à l'été 2025.
Ce mouvement stratégique permet à Tapestry de se concentrer sur ses plus grandes opportunités de création de valeur, en particulier en maintenant le leadership de Coach et en revitalisant Kate Spade. Pour Caleres, Stuart Weitzman deviendra une marque phare, faisant avancer leur agenda stratégique pour développer leur segment de Portefeuille de Marques avec une portée plus globale et directe au consommateur. Après l'intégration, le segment du Portefeuille de Marques devrait générer presque la moitié du chiffre d'affaires total de Caleres et plus de la moitié de leur bénéfice d'exploitation.
Tapestry Inc. (NYSE: TPR) hat den Verkauf seiner Stuart Weitzman-Marke an Caleres (NYSE: CAL) für 105 Millionen Dollar in bar angekündigt, vorbehaltlich üblicher Anpassungen. Es wird erwartet, dass die Transaktion im Sommer 2025 abgeschlossen wird.
Dieser strategische Schritt ermöglicht es Tapestry, sich auf die größten Wertschöpfungsmöglichkeiten zu konzentrieren, insbesondere die Führung von Coach aufrechtzuerhalten und Kate Spade wiederzubeleben. Für Caleres wird Stuart Weitzman eine führende Marke werden, die ihre strategische Agenda vorantreibt, um ihr Segment des Markenportfolios mit mehr globaler Reichweite und direktem Verbraucherzugang auszubauen. Nach der Integration wird erwartet, dass das Segment des Markenportfolios fast die Hälfte des Gesamterlöses von Caleres und mehr als die Hälfte ihres operativen Gewinns generiert.
- Sale of Stuart Weitzman for $105 million in cash strengthens balance sheet
- Strategic focus on core brands Coach and Kate Spade for better resource allocation
- Elimination of potentially underperforming asset from portfolio
- Loss of revenue stream from Stuart Weitzman brand
- Reduction in brand portfolio diversification
Insights
The $105 million sale of Stuart Weitzman to Caleres marks a significant strategic pivot for Tapestry, streamlining its portfolio to focus on its powerhouse brands Coach and Kate Spade. This transaction reflects a broader industry trend of portfolio optimization, where conglomerates are increasingly concentrating resources on their highest-performing assets.
The deal structure presents several strategic advantages: For Tapestry, the all-cash transaction strengthens its balance sheet while eliminating potential operational distractions from managing a smaller footwear brand. For Caleres, Stuart Weitzman becomes a cornerstone acquisition that will push their Brand Portfolio segment to nearly 50% of total revenue, marking a significant shift in their business mix.
Examining the strategic fit, Caleres' extensive footwear expertise and distribution network could unlock significant value for Stuart Weitzman. Their specialized focus on footwear operations, combined with existing infrastructure and supply chain capabilities, positions them to potentially accelerate Stuart Weitzman's growth more effectively than under Tapestry's diversified structure.
The summer 2025 closing timeline allows for careful integration planning, though execution risks remain. Key success factors will include maintaining Stuart Weitzman's luxury positioning while leveraging Caleres' operational capabilities, particularly in direct-to-consumer channels and global expansion.
For Tapestry investors, this divestiture signals a sharper focus on core brands and efficient capital allocation. The relatively modest transaction value suggests the deal is more about strategic alignment than immediate financial impact, with the true value likely to be realized through improved operational focus on Coach and Kate Spade's growth initiatives.
“Stuart Weitzman is an iconic global footwear brand, whose teams have added to the passion, creativity, and craftsmanship of our organization over the last decade," said Joanne Crevoiserat, Chief Executive Officer of Tapestry, Inc. "Importantly, as diligent stewards of our portfolio and disciplined allocators of capital, 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. At the same time, we are pleased that we found Stuart Weitzman a home in Caleres – an ideal owner to guide its next chapter of growth.”
Jay Schmidt, president and CEO of Caleres added, “I have long admired Stuart Weitzman for the brand’s pivotal role in shaping the footwear industry. As we bring this iconic brand into the Caleres portfolio, we are committed to preserving its legacy of craftsmanship, quality and fit while driving it forward. 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. We will leverage our demonstrated, best-in-class footwear capabilities while pursuing category and channel growth. We expect to operate the brand profitably post integration and I look forward to partnering with both the Tapestry and Stuart Weitzman teams for a seamless and successful transition.”
The transaction is expected to close in the summer of 2025, subject to customary closing conditions.
Advisors
Morgan Stanley & Co. LLC is serving as Tapestry, Inc.’s financial advisor and Latham & Watkins LLP is its legal advisor. BofA Securities is serving as Caleres’s financial advisor and BCLP (Bryan Cave Leighton Paisner) is its legal advisor.
About Tapestry, Inc.
Our global house of brands unites the magic of Coach, kate spade new york and Stuart Weitzman. Each of our brands are unique and independent, while sharing a commitment to innovation and authenticity defined by distinctive products and differentiated customer experiences across channels and geographies. We use our collective strengths to move our customers and empower our communities, to make the fashion industry more sustainable, and to build a company that’s equitable, inclusive, and diverse. Individually, our brands are iconic. Together, we can stretch what’s possible. To learn more about Tapestry, please visit www.tapestry.com. For important news and information regarding Tapestry, visit the Investor Relations section of our website at www.tapestry.com/investors. In addition, investors should continue to review our news releases and filings with the SEC. We use each of these channels of distribution as primary channels for publishing key information to our investors, some of which may contain material and previously non-public information. The Company’s common stock is traded on the New York Stock Exchange under the symbol TPR.
About Stuart Weitzman
Since 1986,
About Caleres
Caleres is a market-leading portfolio of global footwear brands that includes Famous Footwear, Sam Edelman, Allen Edmonds, Naturalizer, Vionic, and more. Our products are available virtually everywhere - in the nearly 1,000 retail stores we operate, in hundreds of major department and specialty stores, on our 15 branded e-commerce sites, and on many additional third-party retail websites. Combined, these brands make Caleres a company with both a legacy and a mission. Our legacy is our more than 140 years of craftsmanship and our passion for fit, while our mission is to continue to inspire people to feel great… feet first. Visit caleres.com to learn more about us.
This Press Release may contain forward-looking statements based on management’s current expectations. Forward-looking statements include, but are not limited to, statements regarding the Company’s capital deployment plans, including anticipated share repurchase plans, and statements that can be identified by the use of forward-looking terminology such as “may,” “can,” “if,” “continue,” “assume,” “should,” “expect,” “confidence,” “goals,” “trends,” “anticipate,” “intend,” “estimate,” “on track,” “future,” “plan,” “deliver,” “potential,” “position,” “believe,” “will,” “target,” “guidance,” “forecast,” “outlook,” “commit,” “leverage,” “generate,” “enhance,” “innovation,” “drive,” “effort,” “progress,” “confident,” “uncertain,” “achieve,” “strategic,” “growth,” “we can stretch what’s possible,” similar expressions, and variations or negatives of these words. Future results may differ materially from management’s current expectations, based upon a number of important factors, including risks and uncertainties such as the effect of the announcement of the announced transaction to sell the Stuart Weitzman business on the ability of the Company to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom the Company or the Stuart Weitzman business do business, or on the Company’s or the Stuart Weitzman business’s operating results and business generally; risks that the transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the transaction; the outcome of any legal proceedings related to the transaction; the ability of the parties to consummate the transaction on a timely basis or at all; the satisfaction of the conditions precedent to consummation of the Transaction; business disruption following the Transaction, the impact of economic conditions, recession and inflationary measures, risks associated with operating in international markets and our global sourcing activities, the ability to anticipate consumer preferences and retain the value of our brands, including our ability to execute on our e-commerce and digital strategies, the impact of tax and other legislation, the risks associated with potential changes to international trade agreements and the imposition of additional duties on importing our products, the ability to successfully implement the initiatives under our 2025 growth strategy, the effect of existing and new competition in the marketplace, the effect of seasonal and quarterly fluctuations on our sales or operating results, the risk of cybersecurity threats and privacy or data security breaches, our ability to satisfy our outstanding debt obligations or incur additional indebtedness, the risks associated with climate change and other corporate responsibility issues, our ability to protect against infringement of our trademarks and other proprietary rights, and the impact of pending and potential future legal proceedings, etc. In addition, purchases of shares of the Company’s common stock will be made subject to market conditions and at prevailing market prices. Please refer to the Company’s latest Annual Report on Form 10-K, latest Quarterly Report on Form 10-Q and its other filings with the Securities and Exchange Commission for a complete list of risks and important factors. The Company assumes no obligation to revise or update any such forward-looking statements for any reason, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250219518173/en/
Tapestry, Inc.
Analysts and Investors:
Christina Colone
Global Head of Investor Relations
212/946-7252
ccolone@tapestry.com
Media:
Jennifer Leemann
Global Head of Communications
212/631-2797
jleemann@tapestry.com
Caleres
Analysts and Investors:
Liz Dunn
SVP Corporate Development and Strategic Communications
ldunn@caleres.com
Media:
Kelly
VP Corporate Communications
kmalone@caleres.com
Source: Tapestry, Inc.
FAQ
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