Reported 2 days ago
Tapestry, the parent company of Coach, has announced the sale of the Stuart Weitzman footwear brand to Caleres, owner of Dr Scholl's, for $105 million in cash. This decision follows Tapestry's failed merger with Capri Holdings, and the acquisition is expected to significantly boost Caleres' portfolio revenue and operating profit. The transaction is anticipated to finalize by summer 2025.
Source: YAHOO