We saw what was important for them,” Kahn said. He added, “We also know Gen Z and millennials have an incredible influence in luxury and fashion to other generations,” highlighting a Bain report indicating these shoppers will soon make up 70 percent of the luxury spend.Ĭoach even directed researchers to get up close and personal with the millennial and Gen Z closet by arranging home visits. Gen Z and millennials are “where the money is,” and will dictate Coach storytelling’s investments, Kahn said. “We’ve always been good about customer data, but we got better at it,” he said, pointing out that newly acquired customers are “transacting at higher rates and higher AURs” even as Coach slashed its SKU count. CoachĮyeing $5.7 billion by 2025, Coach is nearly a $5 billion brand today, thanks a renewed focus on production innovation over price and promotion that drove $650 million revenue growth over fiscal 2019, said Todd Kahn, CEO and brand president. “We have opportunities everywhere, but you will see outsize growth in Asia driven by China,” Sarné said, noting plans to open about 25 new stores in the next three years. The brand’s “very affluent” customers spent “nearly $600 on average for our shoes last year,” Sarné said, noting the $30 billion premium footwear market’s trajectory toward $37 billion in the next three years. Digital, meanwhile, commanded 30 percent of North American sales in fiscal 2022. and China making up the bulk of the brand’s 100 directly operated stores at 40 and 55, respectively, Stuart Weitzman has expanded its reach in recent years. The footwear-focused label’s repositioning includes not just Kardashian but a new logo and color scheme be rolled out in the “coming days,” Sarné said, pointing to the celebrity’s relevance in pop culture and social media conversation.Įxpect to see the mom-of-four’s first Stuart Weitzman campaigns later this year in New York, Los Angeles, London and Milan. Kim Kardashian is bringing her famous figure, trend-setting style and roughly 328 million Instagram followers to bear as the face of Tapestry Inc.’s smallest brand and its “new purpose” celebrating “women who stand strong,” Stuart Weitzman CEO and brand president Giorgio Sarné told analysts at the New York company’s Investor Day on Friday. For Stuart Weitzman, only the millennial’s “top-admired influencer” has what it takes to star as its newest brand ambassador.
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