Casual Shoes Now Rule at Coach and Stuart Weitzman — But Dressy Styles Are Having a Revival

Across the footwear industry, casual styles are seeing wins. Tapestry, the parent to Coach, Kate Spade New York, and Stuart Weitzman, saw gains in multiple sectors this quarter, including footwear. The company reported revenue of $1.62 billion, marking a 126% growth year-over-year, led by growth at Coach. In footwear, Tapestry refocused its plan on comfort-focused styles in line with an overall strategy of “meeting the customer where they are,” Tapestry CEO, president and director Joanne Crevoiserat told FN in an interview. “Staying close to our customer, we pivoted,” she said, giving the example of Stuart Weitzman. “We saw that [casualization] trend happening in the marketplace and we responded and reacted. And we’ve seen some of our casual offerings really perform and customers really respond to it.” She specifically called out the Jelly flats and sandals at Stuart Weitzman, which she said were standout performers in footwear. In the last quarter, Stuart Weitzman also expanded its sneaker offerings, while reducing product assortment by 45% fewer SKU counts. Coach also saw success across all genders with its more casual offerings such as its Jelly sandals and slides as well as sneakers. “Our sneaker game is very strong and really that’s just been outstanding for us,” said Coach CEO

Follow Footwear News on Twitter or become a fan on Facebook.

from Footwear NewsFootwear News https://ift.tt/3iYtk9W