Coach's success is increasingly attributed to its innovative bag charms, which provide consumers self-expression opportunities. CEO Joanne Crevoiserat revealed that bag charms and straps significantly contributed to the brand's success, particularly among Gen Z and millennials. With products ranging in price and design, including the $95 Cherry Bag Charm, these accessories resonate with young customers. As Tapestry reports a 7% revenue growth, Coach's strategy appears effective, with a notable 13% increase in their own sales, furthering their appeal in the competitive retail landscape.
The success of bag charms and straps highlights Coach's approach to connecting with the younger demographic, enabling personalized self-expression in fashion.
Joanne Crevoiserat noted that nearly 70% of Coach's new customers were Gen Z and millennials, indicating a strong appeal to younger consumers.
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