Todd Kahn took over the commercial responsibility for Coach in March of 2020. Two weeks later, he closed all North America stores.  Today, Coach CEO Todd Kahn sits down with Sammi to break down the strategy behind one of fashion’s biggest brand turnarounds, and why Coach had to do the exact opposite of conventional growth advice to pull it off. He explains why trying to be “for everyone” almost destroyed the brand, how flash sales quietly trained customers to wait for discounts, and why the company stopped greeting shoppers with coupons entirely during the pandemic. Todd also shares how Coach rebuilt itself for Gen Z through “expressive luxury,” viral bags like the Tabby and Brooklyn, immersive retail experiences, and unexpected ideas like coffee shops, book charms, and co-creation stations inside stores. Plus: the real reason Gen Z shops in person more than people think, why virality can’t be engineered, and the internal operating system Todd uses to run a nearly $7 billion business. Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter  Follow the Coach branding masterclass Here’s What Sammi Covers with Todd: 00:00 Todd Kahn’s Social Currency 02:30 From Corporate Lawyer to Coach CEO 07:52 Joining Coach During the Financial Crisis 10:00 What Actually Went Wrong at Coach 14:00 Flash Sales, Discounting, and Brand Dilution 15:00 Hiring Stuart Vevers and Resetting Creativity 19:00 Rediscovering Coach’s Brand Codes 20:44 Why Coach Focused on Gen Z 23:00 Closing 250 Stores to Save the Brand 24:00 Why “Stores Are Commercial Activities” 26:00 Cutting 40% of the Assortment 27:10 The “Timeless Gen Z” Strategy 28:40 Taking Over Coach Right Before COVID 29:50 Why Coach Stopped Leading with Discounts 30:20 Building a Billion-Dollar Digital Business 31:00 Why People Bought Handbags During Lockdown 32:00 From Performance Marketing to Brand Building 33:00 Bringing 2.9 Million New Customers Into Coach 34:00 Why Coach Wants to Be Your First Luxury Bag 35:30 The Real Story Behind Bag Charm Mania 38:00 What Actually Creates Virality 39:45 Why Coach Only Does Two Big Campaigns a Year 40:00 What “Expressive Luxury” Really Means 42:00 Why Gen Z Loves Shopping In Person 43:00 Coach Play Stores and Experiential Retail 44:00 The Business Strategy Behind Coach Coffee Shops 47:30 Todd’s Operating System for Leadership 50:22 The Story Behind Coach’s Viral Book Charms 52:00 Why Gen Z Is Returning to Books and Community Thanks to Mercury for sponsoring this episode! mercury.com  Learn more about your ad choices. Visit megaphone.fm/adchoices