Welcome to our dedicated page for Tapestry news (Ticker: TPR), a resource for investors and traders seeking the latest updates and insights on Tapestry stock.
Tapestry, Inc. (symbol: TPR) is a renowned global house of brands that unites the magic of Coach, Kate Spade New York, and Stuart Weitzman. The company excels in producing high-quality fashion and accessories, operating around 1,400 stores worldwide, including North America, Europe, and Asia. Each brand under the Tapestry umbrella is unique: Coach is celebrated for its affordable luxury leather products, Kate Spade is known for its vibrant patterns and graphics, and Stuart Weitzman specializes in women’s footwear. In fiscal 2023, Coach accounted for 75% of sales, Kate Spade contributed 21%, and Stuart Weitzman added 4%.
In a recent strategic move, Tapestry agreed to acquire Capri Holdings Limited, adding Michael Kors, Versace, and Jimmy Choo to its brand portfolio. This acquisition is expected to enhance Tapestry's market presence and product diversity. The company is also known for its commitment to social responsibility, making significant strides in sustainability and community support.
For instance, the Coach (Re)Loved & Repair Workshop achieved Gold-level TRUE Zero Waste Certification, reflecting its dedication to environmental sustainability. This initiative has successfully diverted over 90% of waste from landfills through recycling and reuse, among other methods. Tapestry also supports various philanthropic efforts, such as the Coach Foundation, which aims to expand educational opportunities through the
Tapestry, Inc. recently highlighted the contributions of its female IT leaders in a feature for International Women's Day. Leaders Annette Hater, Yang Lu, and Xinquan (Lexie) Ye shared insights on fostering a workplace that empowers women and the unique aspects of Tapestry's corporate culture. The discussion emphasizes the valuable experiences of women in technology and the company's commitment to diversity and inclusion in its leadership roles. For further details, the full article is accessible via Built In.
Tapestry, Inc. emphasizes the importance of its employees in its 2022 Corporate Responsibility Report. The company aims to enhance Equity, Inclusion, and Diversity (EI&D) through a strategy grounded in their core values. Key principles include attracting top talent, fostering an inclusive culture, nurturing community vibrancy, and fulfilling marketplace responsibilities. To this end, Tapestry has set 2025 goals focused on increasing diversity within leadership teams, improving inclusion index scores, promoting internal career progression, and establishing standardized global benefits for self-care and family leave.
On March 15, 2023, Coach launched the "In My Tabby" campaign, celebrating personal stories through the Tabby bag. Featuring Lil Nas X, Camila Mendes, Kōki, and Wu Jinyan, the campaign focuses on self-expression and identity evolution. Directed by Charlotte Wales, it emphasizes emotional connections over traditional brand-centric storytelling. Coach aims to engage younger audiences and redefine fashion as a platform for human stories. The campaign will include pop-ups and a 'Made to Order Tabby' service, allowing customization. The initiative aligns with Coach's commitment to inspire creativity and courage in self-expression.
kate spade new york, known for its bold and vibrant designs, has been actively working on women's mental health since 2013, aiming to empower 100,000 women and girls globally by 2025. In 2021, the brand invested $3 million in mental health initiatives, partnering with 25 organizations. This year, kate spade renewed its collaboration with The Trevor Project, raising $157,275 through events and matching donations, supporting LGBTQ+ youth. Additionally, the brand continues to support women in Rwanda through local partnerships, contributing $177,000 to community development initiatives.
Stuart Weitzman, part of Tapestry, is focused on empowering women through partnerships and initiatives, as detailed in their 2022 Corporate Responsibility Report. In FY2022, they expanded their collaboration with Vital Voices to launch the Bold Moves Grant, supporting women leaders globally. Additionally, they introduced a course at Detroit's College for Creative Studies for students to design shoes, enhancing real-world experience. Efforts also include partnerships with non-profits InHerShoes and It Gets Better Project. During COVID-19, the China team volunteered over 1,100 hours aiding local communities.
Tapestry has launched Prouder Together, an Employee Resource Group for LGBTQIA+ employees and allies, dedicated to fostering an inclusive community and encouraging support within the workplace.
In a recent newsletter, Coach Store Manager Jesse DeBusk interviewed Curtlynn Gonzalez, a social media influencer and advocate for trans rights. Curtlynn shared her journey of coming out and transitioning, highlighting the importance of acceptance and support in the workplace.
She emphasized the challenges faced by transgender individuals, including microaggressions and misgendering, while also advocating for allyship and community support.
Tapestry, Inc. announced initiatives to support Black and brown talent in fashion, emphasizing the importance of talent, culture, community, and marketplace. The Tapestry Foundation awarded over $1M since 2021 to enhance educational access for marginalized students, with $12.5 million in grants and donations in FY2022. The company signed onto the Mitigate Racial Bias in Retail Charter and is implementing training for store employees to create inclusive environments. Additionally, Tapestry's Black Alliance ERG is promoting equity and inclusion through community partnerships and grants, spotlighting Black professionals during Black History Month.
Kate Spade has partnered with ThredUp to launch a new resale program named Pre-Loved, set to start in February. This initiative allows customers to purchase secondhand items directly from Kate Spade's website and earn shopping credits by reselling gently used products. The partnership lasts for one year, with a possibility of renewal. Additionally, Kate Spade aims to assist 100,000 women with mental health support by 2025, having already impacted 66,000 women. This program is part of the brand's ongoing commitment to wellness and sustainability.
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