Question

What is the significance of the company's best-selling bag being one of its most expensive?

The company's best-selling bag being one of its most expensive signifies the successful repositioning of the brand in the luxury market. It indicates that consumers perceive the brand as high-value and are willing to pay a premium for its products. This is a positive sign for the company's brand image and profitability.

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It wasn't until 2016 that the company began to rebound after closing underperforming stores and reinventing its luxury brand image. By 2017, its best-selling bag was also one of its most expensive. In 2019, the company acquired Stuart Weitzman and Kate Spade and rebranded under the corporate mantle of Tapestry. This year, the company has seen major growth due to digital sales and expansion in China — a market with a growing middle class that resonates with Tapestry's accessible yet aspirational luxury brand.

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