Winning streak for Coach brand bolsters parent company ahead of Michael Kors acquisition
Nov. 9, 2023 12:19 pm ETThe Coach brand has increased its prices by more than 30% over the past three years.Luxury demand isn’t quite what it used to be. Neither is demand for accessible luxury, but it seems strong enough that brands like Coach are still able to push through price hikes.
Coach-owner Tapestry, which also owns Kate Spade and Stuart Weitzman, reported revenue growth of 0.4% in its quarter ended Sept. 30, weaker than Wall Street expectations of 2% growth. This follows at European luxury powerhouses such as Gucci owner Kering and Louis Vuitton owner LVMH. But Tapestry’s adjusted earnings of $0.93 a share was higher than expectations of $0.90.Continue reading your article with
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