EVENTS:   Best Equity Short Ideas Conference Call 12 - Zach Shannon/Corto Capital Advisors & Craig Huber/Huber Research Partners & Thomas Beevers /Forensic Alpha & Ed Steele/Iron Blue Financials & Bill Campbell/Paragon Intel - 12 Nov 25   Will AI Deflate the World? Macro Lessons from Three Industrial Revolutions and China - Manoj Pradhan/Talking Heads Macro - 13 Nov 25     ROADSHOWS: Forest Products Sector Equity and Commodity Research With Expertise in Distressed Debt - Kevin Mason /ERA Research   •   London   12 - 14 Nov 25       Buyside to Buyside Forum and Expert Calls across TMT, Consumer, Healthcare and Fintech - Andrew Peters /Revelare Partners   •   London   17 - 19 Nov 25       Fundamental US Healthcare Short Ideas - Dr Elliot Favus /Favus Institutional Research   •   London   17 - 19 Nov 25      

Fortnightly Publication Highlighting Latest Insights From IRF Providers

Company Research

Tapestry (TPR)

Consumer Discretionary

Customer Growth Partners

Building momentum at home and abroad - very strong Holiday season at Coach and Kate has continued in January as they benefitted from a more focused distribution structure and enhanced pricing discipline. Coach is riding the crest of an elevated market positioning and the return of lapsed customers to the brand, while Kate appears fully back on track. TPR is a hugely improved company under CEO Crevoiserat and her next challenge is to buy (or build) a new luxury pillar of growth, well beyond TPR's smallish Weitzman brand.

Edition: 128

- 04 February, 2022