At the Semafor conference in Washington, D.C., Tapestry CEO Joanne Crevoiserat outlined a strategy familiar to any student of intimate apparel: the power of a first, formative purchase. While discussing how Coach and Kate Spade navigate tariff pressures exceeding $200 million, Crevoiserat revealed a core principle—capturing the young, Gen Z consumer with an accessible entry point, the Coach Brooklyn bag. This tactic mirrors a foundational chapter in lingerie history. Just as a young woman’s first ‘real’ bra from a heritage brand like Warner’s or Maidenform in the mid-20th century was a rite of passage that built lifelong loyalty, Tapestry is betting that a first luxury handbag purchase can forge the same enduring bond. They are mitigating costs not by raising prices, but by engineering a $295 leather bag designed explicitly as a gateway.
This focus on an attainable ‘first’ is a page from the lingerie industry’s playbook. Brands have long understood that the initial purchase is rarely about sheer utility; it is about identity and confidence. Crevoiserat recounted stories of a first Coach bag bought after graduation, echoing sentiments once attached to a carefully chosen foundation garment for a new job or social event. The strategy extends to customization, with bag charms recalling the way lingerie houses offered personalized embroidery or specific silhouettes to engage customers between major purchases. As Tapestry applies these brand-building lessons to revitalize Kate Spade, they are following a path well-trodden by lingerie labels: establish an emotional connection early, and you secure a customer for decades, regardless of the economic climate.
Originally reported by WWD