Caleres Acquires Stuart Weitzman from Tapestry

Caleres has agreed to acquire luxury footwear brand Stuart Weitzman from Tapestry, Inc. for approximately $105 million (announced) and closed for $120.2 million (including $11.5 million cash at closing), adding the brand to Caleres' Brand Portfolio. The acquisition, funded via Caleres' revolving credit facility, is intended to expand Caleres' luxury and direct-to-consumer capabilities and leverage its footwear operating expertise to return Stuart Weitzman to profitability.