Jim Cramer explains what's driving the stock of Tapestry

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CNBC’s Jim Cramer on Monday explained what he thinks is driving the stock of Tapestry

, a company known for brands like Coach, Kate Spade and Stuart Weitzman. To Cramer, Tapestry has made some savvy business choices after it decided to walk away from an acquisition deal.

“In the end, giving up on the Capri Holdings acquisition turned out to be a brilliant move for Tapestry,” he said. “Rather than buying a bunch of struggling brands, they made a much better investment in their own stock, sold off the unexciting Stuart Weitzman business, and have turned their core Coach brand into a powerhouse.”