The owner of Coach, Stuart Weitzman and Kate Spade achieved $1.6 billion in digital sales for the year, which was $1 billion more than in 2019.

Tapestry previously launched an Acceleration Programme, with the aim of creating a “leaner and more agile” organisation. As part of this it closed 59 stores in the 2021 financial year, added to 30 last year; 13 of these were Kate Spade and 27 were Stuart Weitzman. 

Ms Crevoiserat said: “Through our Acceleration Programme, we sharpened our focus on the consumer, leaned into digital and data and became a more agile organisation. We reached customers in new ways and adapted to a rapidly changing environment. 

“Importantly, the traction of our strategy is clearly evidenced by our financial performance. We achieved a record annual operating margin as Tapestry, outperforming our expectations across Coach, Kate Spade and Stuart Weitzman, while investing for our future. The year was capped by a successful fourth quarter, highlighted by revenue exceeding pre-pandemic levels led by digital and China – two areas of significant opportunity.

The group operates around 1450 stores.