Under the Radar: Luxury fashion - a look into Tapestry’s recent earnings; its 2.6 million new customers in North America; Rise in Gen Z and millennials spenders; Robust growth in Asia; Room for price hikes; China’s recovery; Importance of DTC channels in boosting sales

Your Way Home with Hongbin Jeong · Mar 3, 2023 · 14m

Coach, Kate Spade and Stuart Weitzman. That’s right - we’re going to talk all about fashion today with Tapestry - the parent company behind the three brands I mentioned earlier. The company recently released its fiscal 2023 second quarter financial results, where it raised its profit outlook for the full year. Tapestry also added about 2.6 million customers in North America in the quarter - nearly half of them were Gen Z and millennials. Closer to home, the company also saw robust growth in parts of Asia, including in Japan, which together outperformed expectations. But why is this the case…