"Our price and brand positioning of expressive luxury is truly the Goldilocks of brand positioning in our industry, on the one hand, we're aspirational in design, fashion, and quality, yet extremely approachable in price positioning."
"We can literally add millions of new customers every quarter for the next 10 years, and we'll just scratch the surface."
"When we talk to consumers, we hear stories over and over and over again about remembering their purchase of the first bag and how important that milestone is in their life."
Coach, owned by Tapestry, reported record third-quarter revenue and earnings, driven by strong growth in North America, Greater China, and Europe. CEO Joanne Crevoiserat attributes this to the brand's positioning as an aspirational luxury option that is also affordable, attracting millions of new customers, especially Gen Z. The company emphasizes the importance of the 'first luxury bag' moment in consumer psychology, aiming to be the bag that marks a young consumer's entry into luxury goods.
Read at Fortune
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