US ‘Caleres Buy Stuart Weitzman, Lelonek Brand Head names

by Gautam Kalal
August 5, 2025August 5, 2025

3 minutes
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Caleres (Nyse: Cal) (Caleres.com), a market leader of the market of footwear brands led by consumers, announced that it has closed the acquisition of Stuart Weitzman of Tapestry, Inc. for $ 120.2 million, which included $ 11.5 million in cash received at the closure. Excluding the liquidity received at the end, the net purchase price was $ 108.7 million. The purchase price is subject to final adjustments for net circulating capital. The agreement for the acquisition of Stuart Weitzman was originally announced in February 2025.This strategic acquisition further strengthens Caleres’s position in the global footwear market and adds a legendary name in luxury shoes to its diversified brand portfolio. With his inheritance of crafts, innovation and iconic style, Stuart Weitzman promotes Caleres’ ambition to guide with brands that have a unique meaning and resonance with consumers.

Jonathan Lelonek, who joined Stuart Weitzman in 2012 and more recently was Global Wholesale, was appointed president of the Stuart Weitzman brand. Lelonek offers a profound experience in the sector and a strong track record of luxury and contemporary footwear, having previously held senior roles in sales and merchandising in Prada, Salvatore Ferragamo and Paul Frank.

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Caleres has acquired the luxury footwear brand Stuart Weitzman, strengthening its global position and adding to its diversified brand portfolio. Jonathan Lelonek has been appointed president of the brand. With $ 220 million in 12 months sales, the brand will now be integrated into the Caleres portfolio, which will represent almost half of the total revenues.

“Stuart Weitzman is one of the most iconic names of luxury footwear, and the original design of the brand have embodied elegance and modernity for decades. We are honored to welcome Stuart Weitzman to Caleres like our new main brand and to congratulate Jonathan for his appointment as President of the brand”, he said Jay Schmidt, President and CEO of Caleres. “With the addition of Stuart Weitzman, our brands of brands will represent almost half of our total revenues in the future. While we integrate this iconic brand, we remain committed to preserving art, quality and the famous adaptation to the center of the brand.”

Stuart Weitzman has generated sales reported by 12 months of about $ 220 million and maintains a strong presence in North America, Europe and Asia through wholesale channels and directed to the consumer. Caleres plans to exploit his skills and skills in footwear to return the brand to profitability after a period of transition and integration through the balance of this tax year.

The acquisition of Stuart Weitzman was financed through the Revolving credit contract of Caleres. Bofa Securities was Caleres financial consultant for the acquisition and Bryan Cave Leighton Paisner acted as a legal consultant.

Declaration of Safe Harbour pursuant to private Securities Content Reform Act of 1995.