Tapestry, owner of Coach and Kate Spade have reported that strong online sales have helped them to achieve a better-than-expected loss.
Due to the ongoing effects of the global pandemic, Tapestry, like many other retailers have focused their efforts online. As a result of this the brand has gained nearly 1 million new customers online in North America alone with e-commerce sales shooting up by triple figures.
The company are committed to keeping their new online presence and subsequent shoppers a firm part of their turnaround plan, commenting that it will become leaner, more focused on its e-commerce business and appeal to consumer in new ways to help maintain sales for Coach and Kate Spade.
