Position of strength, says Tapestry
US-based luxury Tapestry, owner of Coach, Kate Spade and Stuart Weitzman, has reported results for the fiscal first quarter ended September 28.
Revenues of $1.51 billion are flat with the same period last year but better than anticipated.
Joanne Crevoiserat, CEO of Tapestry, said: “We remain in a position of strength, with distinctive brands, an agile platform, and robust cash flow that provide us with strategic and financial flexibility to deliver accelerated organic growth and enhanced value creation in FY25 and for years to come.”
The group’s merger with Capri has faced scrutiny from the US Federal Trade Commission (FTC). In October, a court sided with the FTC; Tapestry has appealed.
Separately, Tapestry’s vice-president for sustainability, Logan Duran, spoke to World Leather about the group’s views on leather and circularity. Read the latest issue of World Leather for the first part of this coverage.
