How Coach’s Parent Plans to Power Through a Recession
The US luxury group that owns Coach, Kate Spade and Stuart Weitzman is focused on customer-centric tactics and products to grow in turbulent times, says the CEO in an interview for The State of Fashion 2023.
The seventh annual State of Fashion report by The Business of Fashion and McKinsey & Company reveals the industry is heading for a global slowdown in 2023 as macroeconomic tensions and slumping consumer confidence chip away at 2022′s gains. Download the full report to understand the 10 themes that will define the industry and the opportunities for growth in the year ahead.
Consumers will be unevenly impacted by economic turbulence in the year ahead. Depending on disposable income levels, some will postpone or curtail discretionary purchases, while others will seek out bargains, creating opportunities for off-price, resale and rental channels.