Tapestry, the owner of iconic brands Coach and Kate Spade, reported strong earnings this week thanks in no small part to Gen Z shoppers. CEO Joanne Crevoiserat told analysts that new Gen Z customers drove $2.4 million in revenue during the recent quarter, adding that the cohort has higher retention rates than others. Coach — whose primary products include handbags, wallets, shoes and accessories — was a big beneficiary, with Crevoiserat saying that the potential of both Gen Z and the next generation, known as Alpha, “is just massive.” Coach CEO and Brand President Todd Kahn said, “We know Gen Z loves shopping in the real world. We’re going to give them something compelling to see very frequently.”
