Maybe Ram proprietor Tapestry‘s vision “KoçtopyaIt’s paying off, with the flagship brand’s strong sales performing better than expected in the first fiscal quarter, which closed on September 28. The group’s last report forecast revenue of over $6.75 billion for this fiscal year. increased by more than 2% compared to last year’s estimates.

Accordingly WWD“Our first quarter results exceeded our expectations and demonstrated the brand magic and operational excellence that fuels our strategic growth agenda,” Tapestry CEO Joanne Crevoiserat said in a statement.

Tapestry reported sales of $1.51 billion in the quarter, down from the $1.47 billion analysts initially predicted. Coach led the growth, increasing revenue 1% to $1.2 billion. Another of the company’s businesses, Stuart Weitzman, posted even more growth, with revenue rising 2% to $53.7 million.

We have just been honored CFDA For Coachtopia series Amazon Innovation AwardCoach’s renewed creative strategy has had a strong impact on the company as a whole.

Vintage Coach is also seeing a resurgence among younger consumers, who are purchasing classic silhouettes and Y2K-era designs from the leather goods brand. Even contemporary models like the Tabby, Brooklyn and Empire are seeing a rise in popularity as mid-range luxury buys appeal to today’s price-conscious consumers.

This news is a welcome development following Tapestry’s August report, which expected almost flat annual growth. In October, the FTC also blocked the company’s $8.5 billion bid to acquire Capri Holdings. Michael Kors To the company’s portfolio.

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