The American fashion group Tapestry Inc. has completed the sale of his Stuart Weitzman brand to the shoe provider Calers. The deal worth $ 105 million (96 million euros) was announced in February of this year and is a strategic step for both companies.
For the US group Caleres, the takeover of Stuart Weitzman claims to be in line with the aim of consolidating its “leadership position in fashionable women’s shoes”. The brand, which is known for its luxurious women’s shoes, is intended to form an important addition to the Caleres portfolio, which already includes brands such as Vince and Veronica Beard.
Morgan Stanley & Co. LLC acted as the financial advisor of Tapestry, Latham & Watkins LLP was the legal advisor. Bofa Securities served as the financial advisor of Caleres and BCLP (Bryan Cave Leighton Paisner) as a legal advisor.
This article was used with digital tools translated.
Fashionunited uses artificial intelligence to accelerate the translation of articles and improve the end result. They help us make the international reporting of fashionunited a German -speaking readership quickly and comprehensively accessible. Articles that have been translated using AI-based tools are read and carefully edited by our editor: Correcting inside before they are published. If you have any questions or comments, please contact me by email to [email protected]