Market Overview

In Its 92nd Year, Naturalizer Embraces Its Identity as a Leading Global Footwear Brand

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Distinctively gorgeous shoes, impeccably timeless collections and a
new brand platform firmly rooted in Naturalizer's heritage gives women
more than just a reason to buy, it gives them a sense of belonging

Founded in 1927, contemporary footwear brand Naturalizer is emerging
this spring with a strategic gameplan to proudly, but humbly, take its
rightful place as one of women's favorite footwear brands.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20190422005386/en/

Today We Will Keep Our Promise. (Photo: Business Wire)

Today We Will Keep Our Promise. (Photo: Business Wire)

After many months of meticulous research, thoughtful planning and
dynamic creative execution, Naturalizer is set to unveil a new brand
platform in April: a positive, authentic and momentum-fueled narrative
that is powered by many voices as a means to reintroduce itself as the
brand that is still striving with each new day to make the best fitting,
most effortlessly chic shoes for women.

"Our passion is our purpose; To bring women a better shoe," said Diane
Sullivan, Caleres Inc. CEO, President and Chairman. "In fact, we were
actually the first to build a shoe on a woman's last. Industry talk, I
know, but that means our fit is just better. This initiative is about
establishing our stance in the world and the category; making our
presence known through our actions. As a brand that promises to make
women a better shoe, and keeping that promise for nearly 100 years."

The platform and its launch campaign, "Today We Will," is not only the
statement of the brand's commitment to continuously make better shoes in
support of women, but an invitation to women everywhere to be present,
engage and declare their intentions to live their best lives and support
each other. Beautifully shot images, moving video content and compelling
quotes underscore this messaging. Marketing and media will be supported
with the hashtag, #TodayWeWill_____ , with the blank line serving as a
call to action to women everywhere.

"'Today We Will' is the statement of our purpose and intention," said
Sullivan. "It is the mindset we share with a modern woman. It is about
inclusion, inspiring confident actions that matter in our lives. For
Naturalizer, it is our promise to make a better shoe for nearly 100
years."

Naturalizer is welcoming public figures, industry professionals and
their own employees to appear in the campaign over the course of the
year. The launch campaign features five women, whom the company
identified as sharing the brand's values, talking about the power of
living with intent and what is important to them, with each making their
own "Today We Will" declarations: Model, activist and writer Cameron
Russell; Mogul CEO & founder and best-selling author Tiffany Pham;
Architectural photographer, stylist and founder of The New Southern™
Alyssa Rosenheck; Designer and creative entrepreneur TyLynn Nguyen; and
model and entrepreneur Flaviana Matata, who is also the founder of The
Flaviana Matata Foundation.

"How nice to be part of a campaign about making promises with each
other," said Russell. "It's inspiring to work with a company passionate
about celebrating that when we dream together as a community, incredible
things happen. I have found that to be true in my own work and life, and
have been the most hopeful, the most powerful and most fulfilled when I
am taking action with my community."

The investment in the platform and campaign come at a time when the
collections are consistently striking the perfect balance, rich with
shoes that will both excite and meet the practical needs of women today.
The design aesthetic is driven by a timeless, but never predictable
philosophy that is also driven by quality over quantity and the
consumer's new fewer, better mindset.

"Our legendary emphasis on fit and elegant simplicity launched a brand
that became known as ‘the shoe with the beautiful fit' and we remain
true to our roots: creating beautiful, modern styles that feel
exceptional inside and out," said Angelique Joseph, VP of Design for
Naturalizer.

"Today We Will" arrives on the heels of a busy first quarter for
Naturalizer, during which time the brand launched a new collection of
elevated footwear, 27EDIT, and opened two flagship stores in New York
and Chicago featuring 27EDIT and a new range of leather goods alongside
a selection of carefully curated products made by independent,
women-owned business.

"'Today We Will', our new collections, the recently opened flagship
stores – all of these exciting firsts bring Naturalizer's philosophy of
ingenious elegant utility to life," said Jay Schmidt, Division President
of Caleres Brand Portfolio. "They present us with more opportunities to
have meaningful conversations that drive deeper engagement with
customers, including our fastest- growing consumer segments, Millennials
and Gen Xers."

About Naturalizer:

Our passion is our purpose. To bring women a better shoe. In fact,
Naturalizer is the first to construct shoes to withstand the test of
time. Our legendary emphasis on fit and elegant simplicity launched a
brand that became known as "the shoe with the beautiful fit." Since
1927, we've crafted beautiful and modern styles that look and feel
exceptional, inside and out. www.naturalizer.com

About Caleres (NYSE:CAL)

Caleres is a diverse portfolio of global footwear brands. Our products
are available virtually everywhere - in the over 1,200 retail stores we
operate, in hundreds of major department and specialty stores, on our
branded e-commerce sites, and on many additional third-party retail
websites. Famous Footwear offers great casual and athletic brands for
the entire family with convenient, curated, affordable collections. Sam
Edelman keeps expressive women in step with the latest trends in a
playful, whimsical way. Naturalizer shoes are beautiful from the inside
out, with elegant simplicity and legendary fit re-imagined for today's
consumer. Allen Edmonds combines old world craft with new world
technology to create luxe footwear for the discerning man who wants
sophisticated, modern classics. Rounding out our family of brands are
Vionic, Vince, Franco Sarto, Dr. Scholl's Shoes, LifeStride, Via Spiga,
Diane von Furstenberg, Blowfish Malibu, Bzees, Carlos by Carlos Santana,
Circus by Sam Edelman, Fergie, and rykä. Combined, these brands make
Caleres a company with both a legacy and a mission. Our legacy is our
more than 140 years of craftsmanship and our passion for fit, while our
mission is to continue to inspire people to feel good…feet first. Visit caleres.com
to learn more about us.

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