US-based Tapestry to open 60 more stores in China
By Zhong Nan chinadaily.com.cn Updated: Nov 13, 2023
Tapestry Inc, the United States-based luxury goods group and the parent company of Coach, Stuart Weitzman and Kate Spade, plans to open 60 more stores in China by the end of 2025, according to a senior executive.
The New York-based group announced in 2022 that over the next three years, it will open 100 stores in China. In the period from July 2022 to July 2023, it had already launched 37 stores in the country.
"For Tapestry and our brands, China is not just a market but also a source of inspiration for breakthroughs and fashion innovation. We will continue to explore opportunities for local collaborations to bring more innovative products and experiences to Chinese consumers," said Yann Bozec, Tapestry's president for Asia-Pacific.
Having conducted business in China for over two decades, Bozec, who also is president and CEO of Coach China, noted that Tapestry sees Chinese Gen Z - those born between the mid-1990s and early 2010s - as one of its core target customers, who are highly digitally engaged.
"We acknowledge their profound enthusiasm for premium brands. We will leverage our digital expertise, reaching consumers on their preferred shopping platforms," he added.
As a five-time participant in the annual China International Import Expo, Tapestry brought Coachtopia, a circular sub-brand of Coach that utilizes recycled, repurposed and renewable materials, at the grand event held in Shanghai from November 5 to 10 this year.
Bozec said this sub-brand reimagines the product lifecycle from end to beginning, reducing the creation of new materials by crafting with waste and designing products that can be reimagined, remade and recycled to live multiple lives.
China has set goals to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060. The carbon emissions of China's textile and apparel industry are approximately 230 million metric tons annually, accounting for 2.8 percent of the national industrial emissions, according to information released by the Beijing-based China National Textile and Apparel Council.
