Tapestry, Inc. and Coach Support Regenerative Agriculture Movement Through Partnership With Savory Institute

Rhea-AI Summary

Tapestry (NYSE: TPR) has announced a partnership with the Savory Institute’s Land to Market Program to enhance the sustainability of its supply chain. The collaboration will focus on utilizing regenerative raw materials, which will positively impact the environment, promote biodiversity, and decrease CO₂ emissions. CEO Todd Kahn emphasized the commitment to environmental improvement through strategic changes in their supply chain. Tapestry aims to achieve 100% renewable electricity across its operations by 2025 and is also pursuing science-based targets to limit global warming and reach net-zero emissions by 2050.

Positive

• Partnership with Savory Institute's Land to Market Program to improve supply chain sustainability.
• Commitment to 100% renewable electricity by 2025.
• Pledge to achieve net-zero global emissions by 2050.

Negative

• None.

Coach to Incorporate Land to Market-Verified Regenerative Raw Materials Into Future Product

NEW YORK--(BUSINESS WIRE)-- Tapestry, Inc. (NYSE: TPR), a leading New York-based house of modern luxury accessories and lifestyle brands, and Coach today took steps to further improve the sustainability of Tapestry and Coach’s supply chain through a new partnership with the Savory Institute’s Land to Market Program, the first verified sourcing solution for regenerative agriculture. By utilizing regenerative raw materials that have a net positive impact on the environment, improve biodiversity, and result in a reduction of CO₂ emissions, Tapestry and Coach will be able to further reduce its impact on climate change.

Todd Kahn, CEO and Brand President of Coach, said, “We are proud to effect real and lasting change for our environment through strategic improvements in our supply chain and innovative productive offerings. While our Coach (Re)Loved collection gives many of our beloved bags a second life, this newly established membership with Land to Market supports the restoration and vitality of the grasslands. We are committed to further reducing our environmental impacts by continuing to engage with our supply chain, and increasing renewable energy, environmentally preferred materials, and traceability.”

Savory Institute’s Land to Market program works directly with farmers, ranchers and other raw material producers using Ecological Outcome Verification^TM (EOV), a scientific protocol that measures land health and verifies whether farmland is in a state of regeneration or degeneration. EOV was developed by the nonprofit Savory Institute, together with Michigan State University, Texas A&M, The Nature Conservancy and others.

As farmers and ranchers make shifts in management that regenerate their land, EOV measures the environmental impact and provides feedback for continuous improvement. As more land is regenerated, more vegetation is grown, and more CO₂ is removed from the atmosphere — helping to reduce temperature shifts caused by rising carbon in the atmosphere. In this way, regenerative agriculture plays a critical role in mitigating climate change.

Products with the Land to Market seal are sourced from farms and ranches that show positive environmental outcomes through EOV. With the Land to Market seal, consumers can be assured that the materials in the products they purchase have been scientifically proven to heal the earth.

“Land to Market is committed to improving the entire ecosystem with regenerative agriculture, which provides benefits for the soil, water, air and animals,” said Chris Kerston, co-leader of Land to Market. “Humanity can only reach critical climate goals with bold action and partnership with the business community. By joining Land to Market, Tapestry and Coach have committed to making a positive impact on the earth by restoring the land through regenerative agriculture.”

Through its partnership with Land to Market, Tapestry is continuing to strengthen its dedication to environmental efforts that combat climate change. This commitment further reinforces Tapestry’s recently announced actions to drive positive change for its people, the planet and community, including its pledge to procure 100% renewable electricity in its stores, offices, and fulfillment centers by 2025, and the establishment of the $50 million Tapestry Foundation to advance equity and opportunity and to combat the climate crisis. This past fall, Tapestry also announced that it signed the Science Based Targets Initiative (SBTi) Business Ambition 1.5°C, committing to setting interim science-based emissions reduction targets in order to limit global warming to 1.5°C and to reach net-zero global emissions by 2050 at the latest. For more information, please visit https://www.tapestry.com/responsibility/our-planet/.

About Tapestry, Inc.
Our global house of brands unites the magic of Coach, kate spade new york and Stuart Weitzman. Each of our brands are unique and independent, while sharing a commitment to innovation and authenticity defined by distinctive products and differentiated customer experiences across channels and geographies. We use our collective strengths to move our customers and empower our communities, to make the fashion industry more sustainable, and to build a company that’s equitable, inclusive, and diverse. Individually, our brands are iconic. Together, we can stretch what’s possible. To learn more about Tapestry, please visit www.tapestry.com. The Company’s common stock is traded on the New York Stock Exchange under the symbol TPR.

About Coach
Coach is a global fashion house founded in New York in 1941. Inspired by the vision of Creative Director Stuart Vevers and the inclusive and courageous spirit of its hometown, the brand makes beautiful things, crafted to last—for you to be yourself in.

Coach is a Tapestry, Inc. brand. Tapestry is publicly listed on the New York Stock Exchange under the ticker TPR.

About The Savory Institute
The Savory Institute, a U.S.-registered 501(c)(3) charitable organization, facilitates large-scale regeneration of the world’s grasslands through Holistic Management. Together with Savory’s global network of Hubs, the Savory Institute equips farmers and ranchers around the world with education, training, and implementation support to achieve success within their cultural and ecological contexts. Savory Institute also removes barriers and creates enhanced conditions for large-scale progress by informing policy, engaging the marketplace, and increasing public awareness. Savory’s long-term goal is to positively influence the management of 1 billion hectares of grasslands by 2025, thereby contributing to global climate-, water- and food-security. Savory is headquartered at 1500 28th Street, Boulder, CO 80303. Tel: 303.327.9760. Additional news and information about the organization is available at www.savory.global.

About Land to Market
A leader in the regenerative agriculture movement, Land to Market is the world’s first outcomes-based verified regenerative sourcing solution. The program’s Land to Market Verified seal has attracted some of the world’s leading consumer packaged goods companies, apparel brands and retailers. A program of the Savory Institute, Land to Market uses a science-based approach working directly with raw material producers to enhance transparency and traceability mechanisms across the entire value chain. To see the full list of Land to Market members, visit http://landtomarket.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220120005352/en/

Tapestry, Inc.

Analysts & Media:

Andrea Shaw Resnick

Chief Communications Officer

212/629-2618

aresnick@tapestry.com

Kelsey Mueller

Director, Investor Relations

212/946-8400 X 100235

kmueller@tapestry.com

Source: Tapestry

FAQ

What is Tapestry's new sustainability initiative with Land to Market?

Tapestry has partnered with the Savory Institute's Land to Market Program to enhance the sustainability of its supply chain through regenerative raw materials.

What is the significance of Tapestry's partnership with the Savory Institute?

The partnership aims to reduce environmental impact, promote biodiversity, and decrease CO₂ emissions.

When does Tapestry aim to achieve 100% renewable electricity?

Tapestry aims to achieve 100% renewable electricity across its operations by 2025.

What are Tapestry's goals regarding emissions reductions?

Tapestry is pursuing science-based targets to limit global warming and aims for net-zero emissions by 2050.

What benefits does the Land to Market seal provide?

Products with the Land to Market seal come from verified farms and ranches that positively impact the environment.