US-based Tapestry to sell Stuart Weitzman
A major player in the global fashion market is the American company Tapestry, which owns the brands Coach, Kate Spade, Stuart Weitzman was going to expand its brand portfolio by acquiring Capri Holding, which includes Michael Kors, Versace and Jimmy Choo, but was met with resistance from the Federal Trade Commission, which saw the deal as violating antitrust laws. Amid the legal battle with the antitrust service, Tapestry has decided to get rid of Stuart Weitzman, as one of its problematic brands, writes Footwearnews.com, citing information from various sources.
It is reported that the reshuffle in the company has already begun, CEO Stuart Weitzman has left his post, but there have been no official statements regarding this resignation yet.
According to Tapestry's latest financial report, Stuart Weitzman's revenue fell 29 percent to $14 million for the fiscal year ended June 241,5, with an operating loss of $21,2 million. The brand has 34 stores in the U.S. and 60 stores worldwide.
Last month, Tapestry CEO Joan Crevoiser noted the challenges at Stuart Weitzman on a call with analysts: “Our full-year results were challenged and materially impacted by external pressures in two of the brand’s key markets, North America and Greater China. Despite the disappointing financial results, we remain focused on driving brand awareness, growth, and long-term profitability.”
In the fourth quarter of its fiscal year, Stuart Weitzman expanded its footwear offerings to include new categories, including men's shoes and handbags. These moves helped the brand grow same-store sales in North America in the fourth quarter, Crevoiser said. In addition, orders for Spring '25 were up more than 30 percent year-over-year. "This should drive revenue and profitability growth in the year ahead," she added.
Tapestry, formerly Coach Inc., acquired Stuart Weitzman in 2015 from Sycamore Partners for $574 million.
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A major player in the global fashion market, the American company Tapestry, which owns the brands Coach, Kate Spade, Stuart Weitzman, was planning to expand its portfolio of brands by acquiring Capri…
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Dear partners!We inform you that the Euro Shoes premiere collection exhibition will be held from August 26 to 29 at the Expocenter, pav. 2.5 and 2.6.
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Time-tested and new collections
PETER KAISER SPRING/SUMMER 2025
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