14 February 2022

Luxury group Tapestry, the owner of Coach, Kate Spade and Stuart Weitzman, has reported record results for the second financial quarter and is raising expectations for the rest of the year, reports Leatherbiz.

Net sales totalled $2.1 billion compared with $1.7 in the prior year, representing a 27% increase.

Digital sales rose around 30% compared with last year, nearly triple pre-pandemic levels.

There was also “significant acceleration” at Kate Spade and Coach.

Joanne Crevoiserat, CEO of Tapestry, said: “Our performance over the last 18 months has demonstrated the advantages of our globally diversified, consumer-centric and data-driven platform. As we look ahead, we see significant growth opportunities.”

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