Caleres Completes $120M Stuart Weitzman Acquisition, Names Lelonek Brand President

Caleres has completed its acquisition of the luxury footwear brand Stuart Weitzman from Tapestry Inc. for a net purchase price of approximately $108.7 million, with the total deal valued at $120.2 million including cash received at closing. This acquisition significantly bolsters Caleres' position in the global footwear market, adding a storied name with $220 million in trailing 12-month sales to its diverse portfolio, which includes Famous Footwear, Sam Edelman, and Dr. Scholl's Shoes. Jonathan Lelonek, who has been with Stuart Weitzman since 2012 and has held senior industry roles at Prada and Salvatore Ferragamo, was named brand president to lead the integration and growth of the brand. Caleres aims to preserve the craftsmanship, quality, and fit that define Stuart Weitzman while leveraging its expertise to return the brand to profitability. Caleres’ CEO Jay Schmidt highlighted that the brand portfolio segment will now represent nearly half of the company's total revenue. The acquisition marks a strategic move to enhance Caleres' global presence across wholesale and direct-to-consumer channels.