The trade war isn't putting a damper on Tapestry’s holiday season
The parent company of brands including Coach and Kate Spade New York isn't worried about being slapped too hard with tariffs during the holidays.
Tapestry (formerly Coach) will be keeping China on its radar this upcoming holiday season, but not just to keep a lid on potential tarrifs. Rather, the company is turning its attention to the Asian market for long-term growth, according to CNBC.
The company has been divesting its sourcing from China since 2011, and only between 3% and 4% of the company’s handbags currently come from China, according to the report.
With a plan to keep tariffs under control, Tapestry can focus on how to build a stronger presence across the Asian marketplace. This strategy includes leveraging “the strengths of the organization and the platform of supply chain and talent that we have across the world to help brands grow globally. We’re especially focused on the Asian markets, where we have seen great performance over the last few years,” Tapestry CEO Victor Luis told CNBC.
To read more, click here.
Tapestry (formerly Coach) will be keeping China on its radar this upcoming holiday season, but not just to keep a lid on potential tarrifs. Rather, the company is turning its attention to the Asian market for long-term growth, according to CNBC.
The company has been divesting its sourcing from China since 2011, and only between 3% and 4% of the company’s handbags currently come from China, according to the report.
With a plan to keep tariffs under control, Tapestry can focus on how to build a stronger presence across the Asian marketplace. This strategy includes leveraging “the strengths of the organization and the platform of supply chain and talent that we have across the world to help brands grow globally. We’re especially focused on the Asian markets, where we have seen great performance over the last few years,” Tapestry CEO Victor Luis told CNBC.
To read more, click here.