Tapestry has agreed to sell the Stuart Weitzman brand to Caleres, a footwear portfolio company, for $105 million in cash. The sale allows Tapestry to focus on growing Coach and revitalizing Kate Spade, while Caleres sees the acquisition as an opportunity to boost sales, with Stuart Weitzman becoming the lead brand in its portfolio, which includes Famous Footwear, Sam Edelman, and others. Caleres CEO Jay Schmidt expressed admiration for Stuart Weitzman’s legacy and craftsmanship. This deal comes after a U.S. District judge blocked a previous merger between Tapestry and Capri Holdings. The transaction is expected to close by summer, pending customary conditions.