Coach parent Tapestry to sell Stuart Weitzman footwear brand for $105 million
The divestment comes months after Tapestry and Michael Kors-owner Capri (CPRI.N), opens new tab abandoned their $8.5 billion merger following a legal challenge.
"Stuart Weitzman will be a lead brand for Caleres, and with this combination the brand portfolio segment will generate nearly half of our total revenue and will continue to generate over half of our operating profit," said Caleres CEO Jay Schmidt.
Caleres also houses Sam Edelman and Vince.
Tapestry witnessed strong demand for Coach's Tabby handbags in the reported quarter, while Kate Spade and Stuart Weitzman lagged.
The deal is expected to close in the summer of 2025, the companies said.
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Elon Musk 'ordered Starlink shutdown' during Ukraine counterattack
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D South A The pop legends ELO have been on a final tour, branded Over and Out. The last performance of Jeff Lynne 's ensemble was due to end the BST season at Hyde Park in London. Ticket holders were told about 24 hours ahead: 'Jeff Lynne is heartbroken to report that he will not be able to perform at tomorrow's BST Hyde Park show.' The organisers said he had been 'battling a systemic infection' and that doctors had told him neither performing nor rescheduling was possible. We all wish Jeff Lynne a swift and complete recovery. Nine pretty solid support acts were ready to perform, including fellow 1970s sensations the Doobie Brothers and Steve Winwood. Yet the whole sold-out event was called off. I think this decision will be much-discussed over the coming weeks, as disappointed fans get their tickets refunded. 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Stephanie S A National Cycle Network route 1 starts beside the ferry port at Dover and runs all the way to John O'Groats in northern Scotland. The first stretch, from Dover around the coast to Sandwich and then inland to Canterbury, could be just what you need – a little hilly, but fun, and 12 miles/20km for each portion. Two relaxing days or one really challenging one. If hills are not what you need, then allow me to direct you to the Kennet and Avon Canal Cycle Route. This connects Reading with Bath – a distance of 82 miles/133km, but it can be sliced and diced. However, rail access is patchy. Devizes would be the ideal place to start, except that the station closed in 1966. So instead I recommend Trowbridge. An advantage of this Wiltshire town is that you can access it by rail without the need to navigate London with youngsters and bikes in tow. 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