Todd Kahn

We pick up cues.

Our creatives, our designers, our merchants are shopping the streets of Shanghai, of Tokyo, of New York, of LA, and seeing and listening to trends.

We are not just following trends.

If you're just in the following trend business, you're not really a significant fashion house.

So we're listening to what they like.

We understand there's functional needs and Coach, I will say in our 85 year history, excel at having an incredibly high functioning bag.

What draws you to our category, no one needs our category.

You can carry your stuff in a paper bag.

You can carry your stuff in a $50,000 bag.

Of course, there's material differences, but ultimately, it's an emotional purchase.

We want to make sure our bags talk to the person, connect emotionally with them.

And that's what we do.

I think when we do it well, we're doing it our best.

So it's interesting, something we've learned about Gen Z. First, they're the most connected generation in history.

The influences somebody sees in Seoul, in Shanghai or New York are similar.

If you think about some of the number one music or movies, they're similar across generations.

all geographies.

And because we're all so connected socially, their likes and dislikes are often very similar.

Now, many Gen Z will tell you they love experiences just as much as you love experiences.

The difference, I think, is they're very, very thoughtful about their purchases.