Coffee and ‘chili crab' ice cream: How luxury fashion brands are capturing Asian consumers [CNBC]
PRADA SPA UNSP/ADR (PRDSY)
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Source: CNBC
Coach experimented with several restaurant concepts in Asia, before deciding cafes were the “best format” for the brand, said CEO Todd Kahn. Coach stores with coffee shops sell more merchandise, and the cafes are profitable on their own, he said. A corduroy Ralph Lauren letter jacket at the brand's store in Singapore retails for around $900 Singapore dollars ($693). But a vanilla latte in its cafe? A comparative steal at SG$9. From Ralph Lauren to Coach, Louis Vuitton, Dior and Prada, clothing and luxury brands are opening stores in Asia to connect with consumers who are increasingly prioritizing experiences over tangible purchases. This is especially true of Gen Zs, Coach CEO Todd Kahn told “ Squawk Box Asia ” Monday. “Gen Z, across the globe, really focus on self-expression,” he said. “The cafes [are] really about extending that self-expression, that idea of community.” Many Gen Zs are happy to share that “self-expression” online, resulting in free word-of-mouth adver
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