Tapestry unveils first results since rebrand
08/11/2017
The Coach brand, which has retained its name after its parent group rebranded, brought in revenue of $924 million, a year on year decrease of 3%.
Tapestry has said this quarter was the first to include the contribution of the Kate Spade accessories brand. It recorded revenue of $269 million between the closing of the acquisition on July 11 and the end of the quarter on September 30.
“We have been especially pleased with our progress on the integration of Kate Spade onto the Tapestry platform,” said Tapestry chief executive, Victor Luis. “After only a few months since the close of the Kate Spade acquisition, we’re even more excited about the opportunities for the brand.”
Another of Tapestry’s more recent acquisitions, high-end footwear brand Stuart Weitzman, also made a strong contribution to the group’s growth, registering sales of $96 million. This figure was 10% higher than last year.
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