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By region, Tapestry revenues were up 9 per cent in North America to $951.7 million. Tapestry acquired 1.2 million consumers in the quarter (900,000 were Coach). Of these, two-thirds were Gen Z and millennials. “We are capturing consumers who are entering the category for the first time, which is instrumental to fuelling enduring relationships, customer lifetime value and sustainable growth,” Crevoiserat said. Gen Z and millennials transact at a higher AUR (average unit retail) than the balance of Tapestry’s consumer base, she added. International revenue rose 8 per cent, led by an increase of 35 per cent in Europe to $92.9 million. This was due to strong consumer acquisition, especially among Gen Z, said CFO and COO Scott Roe. Revenues were up 4 per cent in the Asia-Pacific region. Japan’s 2 per cent decline to $138.2 million was offset by a 5 per cent increase in Greater China to $278.9 million; and 14 per cent growth in Other Asia countries to $93.9 million.Officials Kalashnikitty Kalashnikov X Hello Kitty Shirt
Given Coach’s strong growth, Tapestry raised its outlook for fiscal 2025. It now expects revenues of approximately $6.95 billion, representing growth of 4 per cent year-on-year (on a reported basis). This is ahead of prior guidance of approximately 3 per cent growth. Tapestry also anticipates adjusted free cash flow of approximately $1.3 billion, ahead of the prior guidance of $1.2 billion. That said, the company flagged that this updated guidance is contingent on the expectation that tariffs on goods imported into the United States in accordance with the latest trade policies as of 10 April 2025 — including a 145 per cent tariff on goods from China and an additional 10 per cent on other global imports. (Seventy per cent of Tapestry’s products are manufactured in Vietnam, Cambodia and the Philippines. Less than 10 per cent of the company’s production is in China.) Tapestry expects these tariffs to have an immaterial impact on fiscal 2025 due to the timing of sell-throughs and in-transits.
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