"If you want to give consumers the best possible value, you really need to make most of your products outside the United States, still out of the finest possible materials, supervised by leaders and craftspeople who really understand make,"
"I think the tariffs that are in place today, and threatened for tomorrow, is something that we're going to live with through this administration, but over time we can only succeed as a global economy,"
Lew Frankfort said producing well-made bags and accessories profitably requires manufacturing outside the United States to deliver the best possible value to consumers. He acknowledged that tariffs exist and may persist through the current administration while asserting that the U.S. must operate as part of a global economy over time. Frankfort joined Coach in 1979 and served as CEO from 1985 to 2014. Coach began in New York City in 1941 and now produces most products in Asia. Tapestry manufactures primarily in Vietnam, Cambodia, and the Philippines. Coach reported $1.43 billion in sales in its latest quarter, up 14% year-over-year, and Tapestry stock rose about 158% over the past year. Some companies are considering shifting production to the U.S. to mitigate tariff effects.
Read at Business Insider
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