Caleres has closed on the acquisition of Stuart Weitzman from Tapestry, Inc. for a total of $120.2 million, which included $11.5 million in cash at closing.
Excluding the cash, the net purchase price was $108.7 million, subject to final adjustments for net working capital.
The agreement to acquire Stuart Weitzman was originally announced in February 2025.
Caleres stated that the acquisition enhances its luxury footwear portfolio. Caleres’ brands also include Famous Footwear, Sam Edelman, Stuart Weitzman, Allen Edmonds, Naturalizer, and Vionic.
Jonathan Lelonek, who joined Stuart Weitzman in 2012 and most recently served as SVP of Global Wholesale, has been named Stuart Weitzman brand President. Lelonek brings deep industry experience in luxury and contemporary footwear, having previously held senior roles in sales and merchandising at Prada, Salvatore Ferragamo and Paul Frank.
“Stuart Weitzman is one of the most iconic names in luxury footwear, and the brand’s original designs have embodied elegance and modernity for decades. We are honored to welcome Stuart Weitzman to Caleres as our newest lead brand and to congratulate Jonathan on his appointment as brand president,” said Jay Schmidt, president and CEO of Caleres. “With the addition of Stuart Weitzman, our brand portfolio segment will represent nearly half of our total revenue going forward. As we integrate this iconic brand, we remain committed to preserving the artistry, quality and renowned fit at the brand’s core.”
Stuart Weitzman generated trailing 12-month sales of approximately $220 million and maintains a strong presence in North America, Europe and Asia across both wholesale and direct-to-consumer channels. Caleres expects to leverage its capabilities and expertise in footwear to return the brand to profitability after a period of transition and integration through the balance of this fiscal year.
The acquisition of Stuart Weitzman was funded through Caleres’ revolving credit agreement. BofA Securities served as Caleres’ financial advisor on the acquisition, and Bryan Cave Leighton Paisner acted as legal counsel.
Image courtesy Stuart Weitzman
