Tapestry's CEO Discusses Marketing, Store Ops and More
During a keynote session earlier this week at Shoptalk in Las Vegas, Joanne Crevoiserat, CEO of Tapestry, parent of brands Coach, Kate Spade, and Stuart Weitzman, detailed the organization's strategy for strengthening its brands and winning over customers in a shifting retail landscape. Here are some highlights from Crevoiserat's interview with Sara Eisen, journalist at CNBC.
On Marketing and Brand Influencers
Crevoiserat was asked how Tapestry, and its brands, are thinking about marketing in today's data-driven environment.
"We are intentional how we think about each customer segment," said Crevoiserat. "[Our marketing] Capabilities are only as good as how we apply the data to what our customers are want."
Celebrities are part of the marketing constellation for Tapestry, according to Crevoiserat. However, each of the brands is discerning when deciding which celebrities and influencers it works with. Furthermore, Tapestry discovered an unexpected source in its quest to find brand ambassadors.
"They have to be authentic ambassadors for the brand, and have to reach our audience in an authentic way," Crevoiserat said. "We’ve also discovered that our store associates are some of our best brand ambassadors and brand influencers. They're resonating with our consumers."
On the Role Stores Play in Tapestry's Future
Each of the Coach, Kate Spade, and Stuart Weitzman brands have established physical store footprints. That doesn't figure to change as the brands evolve going forward.
"We've worked to make the [in-store] experience consistent and seamless," Crevoiserat noted in response to Eisen's question about integrating the online and offline shopping experience. "Consumers don’t think of channels as distinct things. They are making transactions with a brand, not a channel. Physical stores have omni capabilities, but they're also important for touch-and-feel experiences."
On Growth Opportunities in China
Crevoiserat was asked how Tapestry is faring in China and what its brands' were seeing from consumers in the market. Her answered shed light into Tapestry's international strategy, including how the retailer can learn from its business in China and is looks to expand into other markets.
"China has a very digitally engaged customer base," said Crevoiserat. "We are learning from that business segment. The consumer is valuing our brands and their products. We have targeted the middle class consumer [in China], a large cohort that’s growing quickly. The goal is to stay ahead of where the customer is going, and they're moving faster and faster."
To help connect its brands with the Chinese consumer, Tapestry has launched collaborations with local product designers. While each market has unique designs and products, Tapestry's brand values are consistent across the globe, Crevoiserat told the audience.
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Joe Keenan is the executive editor of Total Retail. Joe has more than 10 years experience covering the retail industry, and enjoys profiling innovative companies and people in the space.