Coach news and archive

FTC trial against Capri and Tapestry merger ends, judge’s decision awaits

A trial brought by the US Federal Trade Commission (FTC) against a potential merger of luxury goods giants Tapestry and Capri Holdings was brought to a close on Monday, with a federal judge's decision now being awaited. The FTC brought the antitrust case against the duo after Coach-owner Tapestry announced its intention to acquire competitor...

BusinessFeatured

Coach parent Tapestry's Q4 earnings beat analysts' expectations

Tapestry, owner of Coach, Kate Spade, and Stuart Weitzman brands reported net income of 217 million dollars, with earnings per diluted share of 92 cents. Analysts surveyed by Bloomberg expected the company to report earnings per share of 88 cents. The company's net sales of 1.59 billion dollars, declined by 2 percent on a reported basis for the...

Fashion

Coach steps into Roblox and Zepeto metaverses

US fashion brand Coach has entered metaverse platforms Roblox and Zepeto as part of its ongoing ‘Find Your Courage’ campaign, dedicated to aiding users in the exploration and discovery of their identities. Through the initiative, and via the two platforms, users will be able to access digital iterations of Coach’s spring 2024 collection, in what...

Business

Coach parent Tapestry posts Q3 revenues of 1.48 billion dollars

Tapestry’s third quarter net sales declined 2 percent to 1.48 billion dollars. Gross profit totaled 1.11 billion dollars, while gross margin was 74.7 percent. For fiscal 2024, the company forecasts revenue of over 6.6 billion dollars, approximately in-line with prior year on a reported basis and representing growth of approximately 1 percent on...

Business

Tapestry responds to FTC's lawsuit blocking acquisition of Capri Holdings

The Federal Trade Commission (FTC) has sued to block Tapestry’s 8.5 billion dollars acquisition of Capri Holdings Limited, a deal that seeks to combine three close competitors – Tapestry’s Coach and Kate Spade brands and Capri’s Michael Kors brand. The Commission issued an administrative complaint and authorised a lawsuit in federal court to...

Business

Tapestry and Capri merger gains EU and Japan antitrust approval

The planned merger between luxury powerhouses Tapestry and Capri Holdings has been approved by market regulators in both Japan and the European Union, bringing the duo one step closer to their goal. In a regulatory filing, Tapestry confirmed the news that the merger plan had been cleared by the European Commission under the EU Merger Regulation...

Fashion

Coach sues Gap for "Coach" t-shirts

American lifestyle brand Gap has stirred controversy with another player in the lifestyle market by offering t-shirts featuring the word "Coach." The move has provoked Tapestry-owned Coach, which has initiated legal action against Gap for allegedly selling these tees without authorization. In a trademark infringement lawsuit filed in the federal...

Fashion

Prabal Gurung, Coach and Cult Gaia among honourees for 2024 ACE Awards

The Accessories Council has officially named the honourees for its upcoming 2023 Accessories Council Excellence Awards (ACE Awards), which is set to take place May 7 in New York City. The annual event, now in its 30th year, looks to recognise individuals who have made “great strides in raising awareness of the accessories industry”, while...

People

Kevin Hourican and David Elkins join Tapestry board of directors

Tapestry, Inc. has appointed Kevin Hourican, president and CEO of Sysco Corporation and David Elkins, executive vice president and CFO of Bristol Myers Squibb to the company’s board of directors. Commenting on the new board appointees, Joanne Crevoiserat, CEO of Tapestry said: “We are pleased to welcome Kevin and David to our board – two proven...

Video

Video: Coach FW24

In this video you can see Coach´s FW24 collection presented at New York Fashion Week. VIDEO CREDITS HERE

Business

Tapestry raises profit guidance on strong Q2

Tapestry’s net sales in the second quarter totaled 2.08 billion dollars, representing growth of 3 percent on both a reported and constant currency basis. Gross profit totaled 1.49 billion dollars, while gross margin was 71.6 percent, net income was 322 million dollars and earnings per diluted share were 1.39 dollars. On a non-GAAP basis, net...

Business

Coach introduces first social impact report for Dream It Real’s 5th anniversary

The Coach Foundation, the philanthropic arm of premium label Coach, is celebrating the fifth anniversary of its core initiative, Dream It Real, through the launch of its first social impact report outlining the achievements of its overarching community. Entitled ‘The Course to Dream It Real’, the zine-inspired report covers various initiatives...