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.

Tapestry Inc. says it has penned an agreement to sell the Stuart Weitzman brand to Caleres, a portfolio of footwear brands, for $105 million in cash.

The deal reflects a new narrative for Tapestry, which will now focus on its Coach and Kate Spade brands after its unsuccessful attempt to purchase Capri last year.