Premium heritage brands face challenges regarding technology. The key question is how they can merge forward-thinking digital strategies with the enduring nature of luxury goods. Additionally, these companies must navigate balancing their exclusive image against digitally-driven broad access. Lastly, integrating multi-channel innovations alongside personalized service and maintaining an engaging physical store presence remains crucial yet complex.
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During this Fireside Chat held at the Business Hub Retail Rx, Lauren Parker from Fairchild Studio speaks with Yang Lu, CIO of Tapestry, about how their company is adapting to luxury retail in the digital era. Lu discussed Tapestry’s approach involving a trial-and-error digital plan aimed at meeting customer needs, emphasizing that “iteration has become the new standard.”
Tapestry has made significant investments in artificial intelligence. This includes simplifying searches through conversational chats and developing virtual replicas of products to enhance digital design processes while reducing manufacturing wastage. As technology continually evolves, Yang acknowledges that it’s an exhilarating period for being a "technologist," delving into ways these advancements can assist customers throughout their flexible journeys. technology .
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