Value Proposition
    Category: Forbes Life By : Yessar Rosendar Read : 299 Date : Tuesday, April 10, 2018 - 00:14:02

    Ahmad Zamroni for Forbes Indonesia

    From humble roots, Tapestry, a New York-based maker of luxury goods, has now become a global powerhouse brand manager, with $4.5 billion in sales (2017 full year). Its worldwide reach can be seen in the newly renovated Coach store at Plaza Senayan, at nearly 150 sqm. It was designed by Coach Creative Director Stuart Vevers in partnership with Studio Sofield President William Sofield, and reflects a sophisticated yet playful refinement with its warm ambience of leather and natural wood finishes. Tapestry is the new name for the leather goods firm Coach, Inc. which changed its name to reflect its move to a multi-brand luxury firm, now including both Kate Spade and Stuart Weitzman. To inaugurate the store, Tapestry Global Business Development and Strategic Alliances President Ian Bickley visited Jakarta, and gave Forbes Indonesia an exclusive interview. Ian is responsible for all strategic partnerships for the company’s portfolio of brands. Ian explains how the Tapestry group will expand Coach together with its two other brands.

    “We see a tremendous potential here because of the rise of the middle class,” Ian says. According to him, Indonesia’s luxury industry has recorded a healthy double digit growth in the last few years, well above the global average in the mid-single digit rate. In Indonesia, the brand has been around for five years and currently has ten stores in operation nationwide. Its local partner is the Kanmo group, starting originally with children’s brands Mothercare and Gingersnaps. It entered the adult fashion and accessories retail segment in 2011 with Karen Millen and Coast, followed by Coach and T.M. Lewin in 2012, and Women’secret in 2015. The Kanmo group already has 15 brands with over 150 outlets operating all across Indonesia. “If we look at mature markets, Coach’s market share ranges between the low end of 8% to as high as 15%, depending on the market. In Indonesia there is no reason that we can’t reach that level of market share, given the development of the economy and the middle class—we see a lot of potential and we have a great partner here,” Ian says.

    Ian has oversight of the company’s global real estate portfolio and, together with the brand presidents, leads the development of Tapestry’s global multi-brand distribution infrastructure including strategic distributor and joint-venture relationships, licensing partnerships and collaborations. Between 2013 and 2017, he was the president of all of Coach’s international businesses, including management of direct retail and oversight for wholesale and distributorship businesses around the world. In addition, he led the global development of all new and emerging markets for Coach. Ian joined Coach in May 1993.

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