Gap taps Coach architect Reed Krakoff for $29.95-$498 handbag line

Tapestry (NYSE: TPR), whose Coach brand Krakoff himself helped build, is the most direct equity expression of that competitive pressure. Coach accounts for the majority of Tapestry’s revenue, and any meaningful share Gap captures in the accessible-luxury bag segment would come at the expense of Tapestry’s core customer. Tapestry shares were indicated down about 1.9% ahead of Tuesday’s NYSE open, per Investing.com data, extending a 17.6% slide over the prior 30 days — a decline the broader market