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 highlights employee development through the story of Samantha Lanzerotti, Senior Regional Visual Manager at kate spade new york. During her 11-year tenure, Lanzerotti has expanded her role and explored different business areas. The company emphasizes its commitment to talent development and providing equal growth opportunities across the enterprise, encouraging employees to explore roles beyond their current functions.
Sandeep Seth, Chief Marketing Officer of Coach and Chief Growth Officer of Tapestry, has been recognized in the Campaign US CMO 50. Seth earned this distinction for his consumer-centric approach and success in developing purpose-led marketing strategies that effectively engage Gen Z consumers. His recognition highlights his expertise in global brand-building and innovative marketing approaches that have strengthened Tapestry's brand positioning.
Tapestry (NYSE: TPR) has responded to a U.S. District Court ruling that granted the FTC's request for a preliminary injunction regarding its proposed acquisition of Capri Holdings (NYSE: CPRI). The company expressed disappointment with the decision, stating it believes the ruling is incorrect on both legal and factual grounds. Tapestry, which owns Coach, kate spade new york, and Stuart Weitzman brands, argues that the industry is highly competitive, dynamic, and fragmented. The company has announced its intention to appeal the decision in accordance with the merger agreement terms.
Tapestry (NYSE: TPR) has scheduled its fiscal 2025 first quarter earnings conference call for Thursday, November 7, 2024, at 8:00 a.m. ET. The company will release its financial results via press release earlier that morning.
Investors can access the call by dialing 1-866-847-4217 or 1-203-518-9845 with Conference ID 4306173, or listen to the audio webcast on the company's investor relations website. A telephone replay will be available for five business days starting at 12:00 noon ET on November 7th.
Jackee de Lagarde, VP of Global Licensing at Kate Spade New York, has been named to Crain's New York Business Notable Black Leaders list. De Lagarde, who joined the brand in 2014, leads the team responsible for the brand's licensing program. Under her leadership, the team has launched numerous categories in apparel, accessories, home, and pet products. Notable achievements include executing five licensing agreements in her first year and successful Starbucks collaborations in Asia during 2020 and 2022. She also served as co-chair of Black Alliance, Tapestry's first Employee Business Resource Group, contributing to the company's diversity initiatives.
Tapestry celebrates its Great Place To Work Certified status on Certification Nation Day. This recognition is based on employee feedback about various aspects of the company, including leadership, purpose, and culture. Tapestry prides itself on cultivating an environment that is both warm and rigorous, with work that is challenging and fun.
The company emphasizes a culture led by both head and heart, where each brand maintains its uniqueness while sharing a commitment to innovation and authenticity. Tapestry aims to:
- Connect with customers
- Empower communities
- Make the fashion industry more sustainable
- Build an equitable, inclusive, and diverse company
Tapestry expresses gratitude to its team members for this achievement and invites interested parties to learn more about their certification status.
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.
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