Tapestry Asia Pacific CEO: "It is about understanding the consumer trends"

Yann Bozec speaks to CGTN Europe about the company's business in China and key consumer trends.

Transcript

00:00 So what does the future hold for

00:01 tapestry Asia Pacific home to luxury brands like coach Kate Spade and Stuart Weisman.

00:12 The company has raised its annual profit forecast thanks to improved demand in China.

00:18 I mean what we have noticed I should say and there being maybe an acceleration of some brain

00:24 of some trends you know there was definitely a pre-covid the covid and the post-covid

00:30 one of the trends that we are seeing is definitely the Chinese customer is looking more and more for

00:35 experience and that is translating to a tourist and people who are traveling either internationally

00:42 or domestically in China. I mean at very very high rate and with a high demand of experience

00:49 but we already experienced that. Honestly speaking at the pre-covid period it was

00:54 it's a long time already that it's no more only about providing a nice and exquisite product it's

01:00 also about providing an experience to the customer and definitely you mentioned Qingming yes we have

01:05 noticed that more and more during the holiday period the customer is willing to go out of their

01:10 normal I should say routine and normal life to discover something new and shopping is also part

01:16 of that. The government's obviously made attempts to revive spending there's been this trade-in

01:22 program for a big ticket items what more does China need to do to further boost confidence?

01:30 I think there is a part of what China have to do and honestly speaking in my very humble position

01:37 I mean I don't feel like I can say to the government what they have to do that their job.

01:42 What I know and what is very clear for me is what do we have to do here with our brains again coach

01:49 Getspade and Stuart Wiesman I think it's about understanding the customer trend and it's true

01:55 that we are particularly focused on the Gen Z and the young millennial understanding what are the

02:00 expectations understanding what is their customer journey and being there where they are and it's

02:06 true Jamie that we have monitored in the past quite a lot of change in the expectation of the customer

02:12 and again from pre-covid, covid to post-covid the trend was already there I should say that it's

02:18 more an acceleration. I think there is more and more need of personalization personalization of

02:24 product but also personalization of service. There is also equally important a need for a company to

02:31 sell more than product and to represent for each brand what do you stand for what are your true

02:37 value. There are also and we have monitored that for a long time already a real China cool element

02:46 and I want to say coach the first brand of tapestry have been here for two decades already and

02:52 as far as I remember we are never considered China only as a market.

02:58 We always consider China also as a very important source of inspiration.