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. The divestment comes months after Tapestry said it was focused on driving growth for its organic business and had "significant runway ahead" following a derailed $8.

Caleres acquires Stuart Weitzman from Tapestry for $105 million, strengthening its position in women's fashion footwear. Deal to close in summer 2025.

Caleres, the parent company of the Famous Footwear, Sam Edelman, Allen Edmonds, Naturalizer, Vionic footwear brands, among others, has signed a definitive agreement to acquire Stuart Weitzman from Tapestry, Inc.