Todd Kahn

They represent a global community.

And they're excited to work with us.

Yeah.

so this started from consumer insight uh consumer insight for younger generations very different from what i learned you know i've been in this business for 30 plus years we spent 30 years distinguishing between outlet and retail and you'd go to the outlet for a deal and you'd go and buy last year's product or made for outlet product what we learned is gen z

Don't see channels, they see brands.

Sometimes the quote unquote outlet store is the best mall in their neighborhood.

Sometimes if I'm traveling from Brazil and I happen to be in the Fort Lauderdale, Miami region, I may only shop at Sawgrass, which is a beautiful high-end store.

outlet mall.

They come into our stores, they want Tabby.

So part of what we recognized was our value is so good.

I don't need to discount.

value of our product and what we want to do is put our best product front and center it does a number of things first of all it satisfies the demand that we have it increases your a you are as a business person that's a fantastic thing but it also makes everything around it look good so maybe I come in and

Tabby, if I'm a young person, a $4.95 bag may be a little bit of a stretch, but maybe I'll buy a Terry bag at $2.25 and still desire a Tabby in the future.

It makes the Terry more desirable.

It creates...

The whole world of Coach in a very engaging way.

And it's working.

So you're going to see us do more and more of this.

We don't talk about channel anymore.

We talk about there are stores.