Tapestry Stock Plummets Due to Tariffs
Tapestry, the parent company of Coach, has experienced a significant drop in shares due to the impact of tariffs on their profits.
Coach is a renowned American luxury fashion brand specializing in leather goods, particularly handbags, accessories, and ready-to-wear items. Founded in 1941 as a small family-run workshop called Manhattan Leather Goods in a Manhattan loft by six leather artisans, Coach initially crafted wallets and billfolds by hand using supple, high-quality leather inspired by the design of baseball gloves[1][2][3][5][6][7]. The brand’s signature aesthetic began taking shape in the 1960s with the hiring of pioneering designer Bonnie Cashin, who introduced the use of industrial hardware like brass toggles and vibrant color palettes, making Coach products lightweight, functional, and stylish[5]. The iconic horse-and-carriage logo was introduced in the 1950s, symbolizing craftsmanship and heritage[5]. A significant turning point came in 1985 when the Cahns sold Coach to Sara Lee Corporation for about $30 million. Under Sara Lee, and later Lew Frankfort’s leadership as president and CEO, Coach expanded its retail presence aggressively, opening boutiques in major department stores such as Macy’s in New York and San Francisco. Frankfort’s vision aimed to modernize Coach’s image and product line, which had started to lose appeal against European luxury competitors[1][2][3][4]. In 1996, Coach hired Reed Krakoff as its first executive creative director. Krakoff's modern design sensibility transformed Coach from a relatively modest brand into a global luxury powerhouse by creating stylish, functional, and lightweight products that resonated with a broader audience[2][3][4]. The company went public in 2000, changing its name to Coach, Inc., to reflect its growing market presence[4]. Today, Coach remains a prominent player in the luxury fashion industry, known for blending classic American craftsmanship with contemporary design. It has successfully evolved through strategic leadership, creative innovation, and expanding product offerings, maintaining a strong brand identity in a competitive global market[
Tapestry, the parent company of Coach, has experienced a significant drop in shares due to the impact of tariffs on their profits.