Tapestry enters its first full year after ending its diversification phase following its unsuccessful merger with Capri. The U.S. company closed the first quarter with a 13% growth and a 47% increase in net income, driven by the strong performance of its flagship brand, Coach. At the end of the first quarter (ended September 27th), group sales stood at $1.704 billion, a double-digit growth compared to $1.5 billion in the same period of the previous year.
Of Tapestry’s total business, Coach accounted for almost all of it. The accessories brand posted a 22% increase in sales, up to $1.429 billion. Kate Spade, meanwhile, declined 8% to close the period with sales of $260 million. Tapestry’s portfolio now consists only of these two brands, following the sale of Stuart Weitzman to Caleres last August.
Coach is the cornerstone of Tapestry’s transformation plan after its failed merger with Capri Tapestry ended the first quarter of the year with an operating profit of $382 million, up nearly 52% compared to the same period in 2024. The company’s net income, meanwhile, rose 47% to $275 million.
By market, the company reported double-digit growth in its main markets: North America, China and Europe. In the former, Tapestry recorded sales of 1,068 million euros, up 18%, while in China they amounted to $269 million (up 20%) and in Europe, $125 million, up 29%.
Last September, the U.S. group presented its new roadmap, called Amplify plan, whose main objective is to reposition its brands and bring them closer to younger generations. “Our outperformance in the first quarter marked a powerful start to this new chapter,“ said Joanne Crevoiserat, CEO of Tapestry.
Coach
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