Tapestry in China and South Korea returning to normal; others still closed
Luxury group Tapestry has outlined its latest plans on keeping the business running during the global pandemic.
Store closures in North America and Europe have been extended for at least an additional two weeks (through April 24th), though employees at closed locations will continue to receive pay and benefits over this period. Such closures will be reassessed on a bi-weekly basis.
Three group’s three brands — Kate Spade, Stuart Weitzman and Coach — are seeing nearly all of their China stores reopen. There, Tapestry said, results are “slowly and steadily improving”. All stores in South Korea have resumed normal operating hours.
Over the past weeks, many other stores have been closed in the Asia Pacific region including all stores in Malaysia, Singapore, Australia, New Zealand and most recently in some prefectures in Japan.
Tapestry said most of its global distribution centres continue to operate; only one in Malaysia and a third party facility in New Jersey are temporarily closed.
E-commerce platforms for every brand and region continue to operate as normal.
