Caleres, the parent company of the Famous Footwear, Sam Edelman, Allen Edmonds, Naturalizer, Vionic footwear brands, among others, has signed a definitive agreement to acquire Stuart Weitzman from Tapestry, Inc.

Tapestry has struck a deal to sell its Stuart Weitzman shoe brand to footwear seller Caleres for $105 million in cash.

The news comes just months after a federal judge blocked Tapestry’s planned $8.5 billion acquisition of Michael Kors parent Capri Holdings Ltd.

Coach parent Tapestry will sell its Stuart Weitzman brand to Dr Scholl's footwear owner Caleres for $105 million in cash, the companies said on Wednesday. The divestment comes months after Tapestry said it was focused on driving growth for its organic business and had "significant runway ahead" following a derailed $8.

Footwear expert Caleres has reached an agreement to acquire Stuart Weitzman shoe brand from Tapestry for a bargain price of $105 million. It's a win/win for both companies.