Tapestry Inc. wanted to supersize its business through acquisition — but staying focused and letting Coach drive results is working out just fine.
Excluding the recently sold Stuart Weitzman business, Tapestry ’s fiscal first-quarter sales shot up 16 percent to $1.7 billion. That included a 22 percent jump at Coach , to $1.4 billion. Kate Spade , where the turnaround is still a work in progress, slipped 8 percent to $260.2 million.
“Fundamentally what’s driving our growth is new customer acquisition and this young consumer acquisition is the fuel for our business,” said Joanne Crevoiserat, chief executive officer of Tapestry, in an interview with WWD.
The company had looked to build sales by buying Michael Kors parent Capri Holdings, but was tripped up by antitrust concerns l

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