Tapestry

Tapestry is the house of Coach, Kate Spade and Stuart Weitzman, so its world is branded handbags, leather goods and fashion accessories rather than one single label. By our assessment, its real strength is that it owns names people already recognise and keeps them in the accessible-luxury lane, which is a hard niche to do neatly. The downside is that this is still fashion retail: taste shifts, logo-driven buying can cool quickly, and the group depends on keeping each brand clearly different. In practice, Tapestry feels like a portfolio business, with separate voices that need careful management instead of one simple store identity. It sits below the giant European luxury groups, but above plain mid-market accessories chains in status and pricing power. The company is based in the United States.