Tapestry is making a comeback.
The formula includes leveraging data and technology to enhance both the omnichannel and the company’s core products, while reevaluating its track record to see where improvement can be made.
But the luxury fashion house, home to Kate Spade, Coach and Stuart Weitzman, said it is going to take time — and the focus begins with Kate Spade.
“It’s a process that is part science and part art, but it’s also 100 percent experience,” Jide Zeitlin, Tapestry’s chief executive officer and chairman, said on Tuesday morning’s conference call with analysts, his first since taking the helm following Victor Luis’ departure in September. “And it’s one where, when you look at a premium fashion brand, you do not turn it on a dime. If you go back six or seven years when we had overextended the Coach brand, the process of rebuilding the health of that critical brand did not happen overnight. And I still personally remember how there was a period of time after we have taken some dramatic steps to reconnect the brand with its core consumer, when we did not immediately see green shoots. So, we had to, at that time, have confidence in the relevance of
Tapestry Puts Focus on ‘Fixable’ Challenges
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