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Fortune

Nick Lichtenberg

Tapestry thinks it's cracked the code of 'expressive luxury' for Gen Z: a 'Goldilocks' combo of aspirational and approachable

Tapestry Coach Luxury Joanne Crevoiserat Kate Spade

(Credit: Getty Images—Jose Perez/Bauer-Griffin/GC Images)

Tapestry has a theory about why Gen Z keeps buying Coach bags: The brand is just fancy enough to feel like an achievement, and just affordable enough to actually be one.

“Our price and brand positioning of expressive luxury is truly the Goldilocks of brand positioning in our industry,” Todd Kahn, CEO and brand president of Coach, told analysts on Wednesday. “On the one hand, we’re aspirational in design, fashion, and quality, yet extremely approachable in price positioning.”

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