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Coach Handbag Maker Tapestry Inc And Ralph Lauren Corp Warned Of A Slowing Demand

Tapestry Inc, the maker of Coach handbags, and Ralph Lauren Corp warned on Thursday of a weakening North American demand for high-end goods, adding to fears that inflation was finally catching up with U.S. luxury brands ahead of the Christmas season.

Although luxury sales in the United States have been strong this year, with firms able to pass on higher costs more readily than cheaper labels, recent figures suggest that Americans are beginning to cut back on spending on designer handbags and apparel. Accessible luxury businesses like Michael Kors and Ralph Lauren are expected to suffer more than higher-priced labels, as their young core consumer base seeks bargains at the lower end of the fashion range. "As we approach closer to the holidays and consumers continue to read about excess inventory everywhere, it makes logical that (consumers) are reviewing their purchases and waiting to see what the Christmas offers will be," said Simeon Siegel, an analyst at BMO Capital Markets.

Tapestry, which also owns the Kate Spade and Stuart Weitzman brands, lowered its fiscal 2023 revenue forecast from $6.9 billion to $6.5 billion to $6.6 billion, citing a "more modest revenue outlook in North America and Greater China." Ralph Lauren stated that sluggish demand in North America and Europe, where surging energy costs are also hurting consumer wallets, will hurt its Christmas quarter sales. The remarks echo a similar warning issued by Michael Kors owner Capri Holdings Ltd on Wednesday, when it lowered holiday-quarter forecasts, blaming a slowing recovery in China and sluggish demand from U.S. wholesale retailers.

This year has been a difficult one for high-end fashion companies in China, as sporadic business and movement restrictions imposed by Beijing's "dynamic zero-COVID" policy have kept customers away. Tapestry and Ralph Lauren both warned that a stronger dollar would reduce their profits. Ralph Lauren stock, which has lost nearly a quarter of its value this year, rose about 5% in premarket trading after the company exceeded second-quarter sales and profit expectations.

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Prada’s Cleo shoulder bag draws inspiration from vintage Prada. Given its streamlined and elegant design, it is easy to understand why it has been such a big hit with fashion editors and influencers worldwide. (VAT included, £2,300) This Prada Cleo shoulder bag, made of black leather, will be your top option for every outfit. And it’s not just the colour, either.

With advice from a celebrity stylist and a fashion buyer, the most significant bag trends for 2023 are here to help you get the new year off to a great start.

1. Belt Bags
2. Super Size
3. Hard Shell
4. Drippy
5. Utilitarian Pockets
6. Top Handle
7. Chainmail
8. Extreme Minimalism
9. Floral
10. Sequins & Rhinestones

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The purse you once cherished gradually degrades, and before you realise it, all left is a shell of what it once was. Everyone is guilty of neglecting the maintenance of their handbag, but if you’ve ever had to part with a purse you adored, you now realise how important it is to properly maintain them.

Fortunately, professionals who specialise in professional purse cleaning exist, making it simple to get your expensive handbag back to its pre-damaged state. Don’t let a fantastic bag get stained. Baby wipes are an excellent emergency spot-cleaning method for those little everyday accidents.

If you adore handbags and can’t imagine going a day without carrying one, you should be aware of the various available styles.
1. Shoulder Bag
2. Satchel
3. Sling Bag
4. Quilted Bag
5. Clutch
6. Minaudiere
7. Hobo Bag
8. Wristlet
9. Beach Bag
10. Wallet