The company Caleres, among others known for the brands of all Edmonds, Dr. Scholl’s Shoes and Sam Edelman, made a final agreement with Tapestry to take over the Stuart Weitzman brand. The takeover consolidates the “Caleres management position in the field of women’s fashion shoes, especially in the contemporary segment of the market,” says Calles.
Jay Schmidt, President and CEO of the company, says: “I have long admired Stuart Weitzman for the central role that the brand played in the design of the shoe industry. If we include this iconic brand in the Caleres portfolio, we are obliged to preserve your heir to craftsmanship, quality and fit and drive it forward at the same time. ” And further: “The takeover of Stuart Weitzman promotes our strategic agenda to expand our brand portfolio with more global and direct range for the consumer. Stuart Weitzman will be a leading brand for Caleres, and with this combination, the brand portfolio segment will generate almost half of our total sales and still more than half of our operating profit. ”
Joanne Crevoiserat, Chief Executive Officer from Tapestry, adds: “Stuart Weitzman is an iconic global shoe brand, whose teams have enriched the passion, creativity and craftsmanship of our organization in the past ten years. As a careful administrator of our portfolio and disciplined capital allocators, this transaction ensures that all of our brands are positioned for long -term success and that we continue to focus on our greatest added value. At Tapestry, this means that we use our position of strength to maintain the leadership position and dynamics of Coach while we revive Kate Spade to promote permanent organic growth and shareholder value. At the same time, we are pleased that we found a home for Stuart Weitzman in Calers – an ideal owner to head the company’s next chapter of growth. ”
