Retail News

Tapestry expects Shanghai lockdown to be lifted soon

CNBC 05/13/2022

Tapestry, the owner of Coach, expects that a citywide lockdown in Shanghai will be lifted by the Chinese government. The fashion brand company is among Western brands adversely affected by Chinese-related supply chain disruptions. “We started the [third] quarter quite strong, and then as Covid disruptions happened, we saw traffic drop off,” CEO Joanne Crevoiserat said. “The digital business is also pressured because of the logistics challenges in the region.”

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