Coach Owner Is Stockpiling Handbags to Prepare for Holidays
- Tapestry aims to boost inventory to meet strong demand
- Global supply chains remain challenging, Tapestry CFO says
Photographer: Michael Nagle/Bloomberg
The owner of the Coach and Kate Spade brands is stockpiling its handbags and other accessories ahead of the holiday season to ensure it can meet consumer demand amid ongoing delays in the delivery of products from suppliers.
“We find ourselves in a dynamic where the consumer demand backdrop is strong, while supply chain remains challenging,” Scott Roe, the chief financial officer of Tapestry Inc., told analysts Thursday on a conference call to discuss quarterly earnings. The retailer, which also owns Stuart Weitzman, is working on “securing significant expedited deliveries, at an additional cost, in order to mitigate the impact of supply chain disruptions, at least through the holiday period.”