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Tapestry, Inc. Completes Sale of Stuart Weitzman Brand to Caleres

1. Caleres has acquired the Stuart Weitzman brand from Tapestry. 2. This acquisition enhances Caleres's portfolio in the consumer footwear market.

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Why Bullish?

The acquisition of Stuart Weitzman can increase CAL's market share and brand value, potentially boosting sales. Historically, similar acquisitions have led to significant growth for acquiring companies within the fashion sector.

How important is it?

The successful acquisition signifies a strategic enhancement of CAL's product offerings, likely influencing investor sentiment and market position.

Why Long Term?

Acquisitions typically reveal their full effects over several quarters as integration and brand strategies unfold. Successful integration of Stuart Weitzman could enhance CAL's revenue growth over the long term.

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NEW YORK--(BUSINESS WIRE)--Tapestry, Inc. (NYSE: TPR), a house of iconic accessories and lifestyle brands, today announced it has successfully closed the previously announced sale of the Stuart Weitzman brand to Caleres (NYSE: CAL), a market-leading portfolio of consumer-driven footwear brands. Advisors Morgan Stanley & Co. LLC served as Tapestry, Inc.'s financial advisor and Latham & Watkins LLP was its legal advisor. BofA Securities served as Caleres's financial advisor and BCLP (Brya.

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