Tapestry Inc. tapped Todd Kahn to head up its Coach brand as chief executive officer and brand president, a role he’s held on an interim basis since July.
Kahn reports to Tapestry CEO Joanne Crevoiserat, who said: “Todd has done a tremendous job leading Coach over the last nine months, delivering exceptional business results, while effectively navigating the pandemic. Importantly, during this time, the brand has been building momentum through the recruitment of new, younger customers and the acceleration of digital.”
Kahn said the 80-year-old brand has been implementing “a purpose-led, consumer-centric and data-driven approach to fueling innovation across customer touchpoints. We will deliver the blend of magic and logic that make our brand and business distinctive, providing customers around the world with authentic, compelling product and experiences under Stuart Vevers’ creative direction, underpinned by a focus on operational excellence to support enhanced profitability.”
At Coach, he’s in charge of a big business that’s changing with the times. Its sales slipped 4 percent in the most recent quarter to $1.23 billion with gross margins at 72.5 percent of sales.
Operating income at the brand was $412 million compared with $383 million a year earlier with operating margins rising to 33.6 percent versus 30.1 percent a year ago, showing the company’s efforts to operate more efficiently in the pandemic.
He joined the company in 2008 as senior vice president, general counsel and secretary and rose up through the ranks, taking positions of greater responsibility.
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