Coach's parent company to expand its footprints in China

Upbeat about the Chinese market, Tapestry Inc, the United States-based luxury goods company, plans to work with more local designers, strengthen its omni-channel approach and open new stores in China to stay competitive, said a senior executive.

The New York City-headquartered group, the parent company of Coach, Kate Spade and Stuart Weitzman, has transformed its booth into a Coach tabby shop, complete with a giant tabby handbag centerpiece, at the 7th China International Import Expo in Shanghai from Tuesday to Sunday.

During the grand event, the brand launched its quilted chain tabby handbag globally and introduced Coach Cafe to create interactive experiences for visitors.

Coach has witnessed the rising demand among Chinese consumers for personalized and high-quality products that reflect cultural values and individual expression in recent years, said, Yann Bozec, president of Tapestry Asia-Pacific.

The brand has strategically responded by introducing iconic products, including its tabby line, and fostering connections with consumers through fashion-forward collaborations, storytelling and local cultural recognition, said Bozec, who is also president and CEO of Coach APAC.

"By integrating both online and offline experiences, we will strengthen Coach's omni-channel approach, building partnerships with key Chinese e-commerce platforms and providing in-store immersive experiences across its network in China," he added.

To attract more creative designers, the company will continue to empower young talents by launching incubation programs in partnerships with the Shanghai-based Donghua University and Beijing's Tsinghua University.

"These initiatives nurture emerging fashion designers, helping them explore their creative potential in the industry," said Bozec.

Eyeing a consumption uptrend, Tapestry plans to open 100 stores across China between 2022 and 2025, and further spur sales through duty-free business at Hainan Free Trade Port in Hainan province. It currently runs nearly 400 stores across more than 90 cities in China.

"This investment plan has progressed smoothly in China and that goal can be easily achieved by 2025, said Bozec, noting the group's new store number may exceed 100 by the end of next year.

Expressing optimism for the Chinese market, he highlighted that China's stable economy, favorable business environment and energetic consumer base will further bolster the country's attractiveness to multinational corporations.

Despite a fast-changing environment, Tapestry has seen steady growth in China, with 3 percent year-on-year in its 2024 fiscal year.