Coach, the renowned designer accessories brand based in New York, has recently announced the appointment of Todd Kahn as its permanent CEO. Kahn, who has been serving as interim CEO and brand president since July 2020, will now officially take on the position. The news was shared by Tapestry, the parent company of Coach, on Thursday, with Kahn reporting directly to Tapestry CEO Joanne Crevoiserat.
Kahn’s association with Coach can be traced back to 2008 when he joined the company as senior vice president, general counsel, and secretary. Over the years, he has taken on increasingly significant roles within the brand, including chief legal officer, company secretary, and chief administrative officer. Prior to his tenure at Coach, Kahn held positions at Sean “Diddy” Combs’ Sean John brand and Accessory Network Group.
Crevoiserat commended Kahn’s leadership, particularly during the challenging times of the Covid-19 pandemic. She highlighted the brand’s strong business results and growing momentum, emphasizing Coach’s efforts in attracting younger customers and enhancing its digital presence. Crevoiserat expressed confidence in Kahn’s industry knowledge and brand stewardship, deeming him the ideal person to lead Coach as they continue to advance their Acceleration Program.
Kahn, in response to his appointment, expressed his excitement and honor in leading such an iconic brand with a rich history and talented teams. He emphasized his commitment to implementing a purpose-driven, consumer-centric, and data-driven approach to drive innovation across all customer touchpoints.
In the second quarter of the fiscal year ended December 26, 2020, Tapestry reported a 7% decline in net sales compared to the previous year. Coach’s contribution to the revenues amounted to $1.23 billion, showing a 4% decrease year over year. However, Tapestry’s net income for the quarter increased to $311 million, compared to $299 million in the same period of the previous year.
With Kahn’s appointment as the permanent CEO, Coach aims to leverage its strong brand heritage and talented teams to continue its growth trajectory and further solidify its position in the competitive designer accessories market.
Useful links:
– Coach Official Website
– Tapestry Official Website
