Tapestry
Coverage of Tapestry in the Nexus archive.
- How the company behind Coach and Kate Spade decides what belongs in its portfolio
Tapestry, the parent company of Coach and Kate Spade, evaluates portfolio decisions based on its unique ability to create value for acquired assets. The company pursued a $8.5 billion acquisition of Capri Holdings (owner of Michael Kors, Versace, and Jimmy Choo) in 2023 but abandoned the deal after regulatory rejection, later selling Stuart Weitzman. Scott Roe, Tapestry’s CFO/COO, emphasizes strategic alignment and operational expertise as key factors in acquisition and divestiture decisions.
- Everyone wants to carry these 'it' briefcases from Coach — even if they're 40 years old
Vintage Coach briefcases are experiencing a resurgence, driven by their timeless design and practicality. Anne Hathaway's use of one in 'The Devil Wears Prada 2' and shifting workwear trends have increased demand for secondhand models, with some selling for over $150. Coach's parent company, Tapestry, reported a 19% revenue rise in Q3, partly attributed to the brand's renewed popularity.
- Tapestry CEO Sees Resilient Consumer, Bullish on Coach
Tapestry CEO expresses confidence in consumer resilience and optimism about Coach's performance. The CEO's bullish stance highlights positive outlook for the fashion industry.