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Tapestry prepares to sell Stuart Weitzman amid Capri acquisition

Tapestry Inc is reportedly preparing to sell its Stuart Weitzman brand as it readies for a court defense regarding its $8.5 billion acquisition of Capri Holdings. Stuart Weitzman’s CEO Giorgio Sarné will depart in October, and the sale reflects Tapestry’s strategy to adjust its portfolio amid the regulator’s challenge of the Capri deal, citing concerns about market control. Despite recent financial struggles for Stuart Weitzman, including a 14% revenue drop and operating losses, Tapestry remains focused on brand-building and growth. The potential sale would also provide additional funds for Tapestry and align with its strategy of concentrating on larger brands like Coach, Kate Spade, and the expanded Capri portfolio.

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