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Tapestry's Gain Thanks to TikTok

Joanne Crevoiserat Chief Executive Officer of Tapestry announced a pickup in heart-shaped Kate Spade bag sales after it was shared globally via TikTok a month ago. She said the sales were successful and there’s still demand; we are restocking. Owing to the popular social networking service, Tapestry and other retailers have taken off after the outbreak; another example is toy companies. Stocks of Tapestry had a 4.6% growth on January 4, hitting predictions by Wall Street.

The luxury fashion company saw a reduction in its quarterly sales, 7%, when compared with a year ago; but there was a growth in its global online sales. The New-York-headquartered luxury brands company is satisfied with a rise in online sales and consumers’ high demand, she added. Tapestry’s digital earnings, $1.3 billion in the last 12 months, reveals a more than double surge.

Samira H.

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By Saha on October 19, 2021


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