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
Stuart Weitzman, a Tapestry brand, launched its Fall 2024 campaign celebrating modern womanhood with a film titled 'How Lovely to Be a Woman'. The campaign features five new global ambassadors: Aly Raisman, Christy Turlington, Issa Rae, Lucy Liu, and Ming Xi. Each ambassador embodies the campaign's message of women's strength and confidence in unique ways:
- Aly Raisman: Athlete advocate for abuse prevention and mental health
- Christy Turlington: Model and maternal health activist
- Issa Rae: Actor, writer, producer, and rising business mogul
- Lucy Liu: Actress, director, producer, and visual artist
- Ming Xi: International supermodel and actress
The campaign film, directed by Matvey Fiks, features a remix of the 1963 musical song 'How Lovely to Be a Woman'. Fashion photographer Ned Rogers shot the campaign images. Stuart Weitzman aims to inspire women's confidence and empower them to be bold through this initiative.
Kate Spade New York and founding partners launched the Global Fund for Women's Mental Health in September 2024. The fund aims to increase access to community-led mental health interventions for women and girls worldwide. In its first year, it will focus on non-profit partners in North America, the U.K., Japan, Australia, and East Africa, with the first round of partners to be announced in March 2025.
The fund was launched at Kate Spade's 3rd annual Global Summit on Women's Mental Health, featuring celebrities and mental health stakeholders. With an initial investment of $450,000 from Kate Spade New York and contributions from partners, the fund seeks to catalyze further investments. Customers can also donate to the fund when checking out at North American stores.
Kate Spade New York has invested over $31M in women's mental health initiatives to date, reflecting their belief that good mental health is fundamental to women's empowerment. The brand's social impact work aims to provide greater access to culturally competent mental health solutions for women at every stage of life.
Coachtopia, a brand under Tapestry, Inc. (TPR), has launched the "Alter/Ego" collection, showcasing its commitment to circularity in fashion. This innovative line features five new bag styles crafted from leather scraps left over from iconic Coach bags like the Tabby, Hampton, and Brooklyn. Using Coachtopia's Checkerboard Upcrafted Leather technique, these bags have a 59-80% lower carbon footprint than comparable styles made with new materials.
The collection demonstrates Coachtopia's mission to reimagine waste, design, and product end-of-life. Joon Silverstein, SVP Global Marketing and Sustainability at Coach and Head of Coachtopia, emphasizes that this initiative represents a shift from using pre-existing waste to proactively designing out waste. The scalable processes developed through Coachtopia are expected to drive transformative change in the wider Coach brand's approach to circularity.
Yang Lu, Tapestry's recently promoted Chief Information Officer (CIO), has been named one of the '50 Outstanding Asian Americans in Business' by the Asian American Business Development Center. This recognition highlights Lu's leadership in technology integrations and modernizations across Tapestry, as well as her commitment to Equity, Inclusion, and Diversity initiatives. Lu also serves as the Executive Sponsor of Tapestry's Asian Heritage Alliance employee business resource group.
This honor underscores Tapestry's support for its employees' professional growth and achievements. The company encourages interested individuals to learn more about how Tapestry fosters career development and supports its workforce.
Coach unveiled its Spring 2025 collection with a runway show on New York City's High Line, showcasing Creative Director Stuart Vevers' vision of American classics reimagined for a new generation. The collection emphasizes personality and self-expression, blending classical tailoring with casual, counter-cultural elements.
Key highlights include:
- The debut of the Chain Tabby 26 bag
- New variations of the Frame bag
- Introduction of the Soho Sneaker with regenerative leather
- 'Re-loving' concept featuring repurposed post-consumer garments
- Graphic T-shirts with New York pop and rock 'n' roll iconography
The show, held in an urban setting, reflected the collection's theme of mixing different styles and personalities in a city environment.
Tapestry (NYSE: TPR) reported its Q4 and FY2024 results, showcasing a record non-GAAP EPS of $4.29 and total revenue of $6.67 billion, an increase of 1% in constant currency. The company's gross margin improved by 250 basis points, driven by lower freight expenses and FX tailwinds.
Key achievements include acquisition of 6.5M new customers, 1% revenue growth in constant currency, and significant operating and free cash flow of over $1.1 billion. The Coach brand reported record annual revenue exceeding $5 billion.
Despite a 2% decrease in Q4 sales to $1.59 billion, Tapestry achieved a gross margin of 74.9% and non-GAAP EPS of $0.92. CEO Joanne Crevoiserat highlighted the company's strategic advancements and future growth potential.
For FY2025, Tapestry forecasts revenue growth to $6.7 billion, an operating margin increase, and EPS between $4.45-$4.50, excluding the impact of the proposed Capri Holdings acquisition, which faces FTC challenges.
Stuart Weitzman, part of Tapestry's brand portfolio, has announced the recipients of its Bold Movers Grant in partnership with Vital Voices Global Partnership. The grant, funded by the Tapestry Foundation, aims to advance inclusive workplace initiatives for working mothers and caregivers. Four recipients were selected for their projects:
1. Janitza Vasquez: Developing 'The Mama Tribe,' a mentoring program for young mothers in New Orleans.
2. Laneceya Russ-Martin: Updating a guide to empower caregivers in advocating for work-life balance policies.
3. Michaela Ayers: Expanding Black Her Stories with live events and wellness workshops for Black caregivers.
4. Shivani Parikh: Advancing The EmpowerHer Conference to support South Asian working mothers and caregivers.
These initiatives focus on empowering women, providing resources, and advocating for policy changes to support working mothers and caregivers.
Tapestry, Inc. (NYSE: TPR) has announced its upcoming fiscal 2024 fourth quarter and year-end earnings call, scheduled for Thursday, August 15, 2024, at 8:00 a.m. ET. The company will release its financial results via press release earlier that morning. Investors and analysts can access the conference call by dialing 1-866-847-4217 or 1-203-518-9845 with the Conference ID 2329867. An audio webcast will also be available on the company's investor relations website. Tapestry is a global house of brands that includes Coach, kate spade new york, and Stuart Weitzman, focusing on innovation, authenticity, and sustainability in the fashion industry.
Tapestry, Inc. (NYSE: TPR) has announced the appointment of Eva Erdmann as CEO & Brand President of Kate Spade, effective October 2024. Erdmann, who will report to Tapestry CEO Joanne Crevoiserat, succeeds Liz Fraser, who is leaving in September. With a proven track record in leading global consumer brands, Erdmann joins from L'Oréal, where she served as Global President of Urban Decay Cosmetics since 2018. In her new role, she will oversee all aspects of Kate Spade's business, focusing on accelerating innovation to drive consumer connections and sustainable global growth. Tapestry maintains its Fiscal 2024 financial outlook and will report Q4 and full-year results on August 15, 2024.
Tapestry and L'Oreal recently co-hosted 'Juneteenth: A Celebration of Freedom' at Tapestry's Hudson Yards headquarters. This event, organized by Tapestry's Black Alliance and L'Oreal's Black @ L'Oréal employee resource groups, brought together over 200 attendees in-person and virtually.
The celebration featured a panel discussion about Juneteenth, focusing on themes of community, equity, and justice. Employees shared personal stories to commemorate the emancipation of enslaved people in the U.S. Following the discussion, a block party with live music, dancing, food, and games provided a vibrant atmosphere for participants.
Tapestry emphasized the importance of equity, inclusion, and diversity within its organization and highlighted the role of employee business resource groups in fostering a supportive community. The event underscored Tapestry's commitment to celebrating and promoting these values among their teams and local partners.
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