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.

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.

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.