Coach is experiencing a significant revival, particularly among Gen Z consumers, who increased their spending on the brand by 10% in the first half of 2023.
This resurgence follows strategic shifts in marketing and product offerings, including partnerships with celebrities like Lil Nas X and a move towards "expressive luxury" from "accessible luxury." These changes have contributed to strong sales for Coach, its parent company Tapestry's largest revenue generator, which saw net sales increase by 11% to $1.14 billion in the most recent quarter. The article also notes Tapestry's pending $8.5 billion acquisition of Capri Holdings, which includes brands like Michael Kors and Versace, positioning Tapestry for greater competition in the luxury market.
The brand's efforts to connect with younger demographics through inclusive messaging and Y2K-inspired campaigns appear to be paying off.
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