Last week, a company called Tapestry had an earnings call.

It owns fashion brands like Coach and Kate Spade.

Good day and welcome to this Tapestry conference call.

Our colleague Suzanne Kappener was listening and she noticed something unusual.

The company's CEO was talking openly about raising prices.

In the past, companies when they would raise prices, they would sort of do it very quietly.

A lot of companies tend to be secretive about their strategy and their pricing.

And they don't want to share with competitors what they're doing.

And they certainly don't want consumers to feel like they're being ripped off.

But on the Tapestry earnings call?

You almost got the sense they were sort of bragging about how their brands are so hot

and so in demand that they can continue to raise prices.

We continue to see pricing power across our portfolio.

We deliver gross margin increases across the portfolio and we expect that to continue.

It really...

The average price that consumers are paying for coach items are up 30% over the past three

years.

Now that far outpaces the pace of inflation.

It's not just fashion brands that are raising prices like this.

It's also coffee chains, fast food restaurants and streaming services.

And right now, it seems like a lot of consumers are willing to pay up.

But why?

...