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Tapestry, Inc. Breaks Ground at North Las Vegas Fulfillment Center
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Tapestry, Inc. (NYSE: TPR) has announced the groundbreaking of its new North Las Vegas Fulfillment Center, expected to create over 400 jobs by 2029. The facility aims to enhance Tapestry's omni-channel capabilities and is projected to handle 22.2 million units annually across its brands, including Coach and Kate Spade. The NVFC will feature advanced technology and is designed for LEED Gold certification, reflecting Tapestry's commitment to sustainability. This strategic move is set to improve service delivery to West Coast customers and support company growth.
Positive
Creation of over 400 full-time jobs by 2029.
New facility to enhance omni-channel capabilities and improve service for West Coast customers.
Designed for LEED Gold certification, showcasing commitment to sustainability and renewable energy.
Negative
None.
Strengthens Omni-Channel Solutions
Further Enhances Product Availability and Service
NEW YORK--(BUSINESS WIRE)--
Tapestry, Inc. (NYSE: TPR), a leading New York-based house of modern luxury accessories and lifestyle brands including Coach, Kate Spade New York and Stuart Weitzman, today officially announced the groundbreaking of its new Fulfillment Center in North Las Vegas, Nevada (NVFC), which is expected to add over 400 full-time jobs by 2029. The new facility demonstrates Tapestry’s consumer centricity and will further strengthen the Company’s omni-channel capabilities.
Tapestry, Inc. leaders Joanne Crevoiserat (CEO), Todd Kahn (CEO & Brand President, Coach), Ken Sanders (SVP of Fulfillment and Logistics), Joseph Gillespie (Sr. Director, Engineering & Facilities) and Alma Mercado (Sr. Manager, HR, NVFC) at the groundbreaking for the Company’s new North Las Vegas Fulfillment Center. (Photo: Business Wire)
Company representatives at the groundbreaking ceremony included Tapestry CEO Joanne Crevoiserat, SVP of Fulfillment and Logistics Ken Sanders, Senior Director of Engineering and Facilities Joseph Gillespie, and Coach CEO & Brand President Todd Kahn. Attendees of the ceremony also included Jermareon Williams, Regional Representative for U.S. Senator Jacky Rosen, Melanie Sheldon, Director of Business Development – Southern Nevada from the Governor’s Office of Economic Development, North Las Vegas Mayor John Jay Lee and other community leaders as well as representatives from asset manager Clarion Partners, site developer Seefried Industrial Properties, and commercial real estate firm JLL. Also in attendance was Jason DiOrio, Director, Corporate Partnerships of United Way of Southern Nevada.
GIVING BACK AS A MEMBER OF THE LAS VEGAS COMMUNITY
The Tapestry Foundation is also supporting the greater Las Vegas community with a $50,000 grant to United Way of Southern Nevada to fund community programs, which include education, emergency shelter, food support, health services and crisis support. This donation builds on Tapestry’s recently announced actions to drive positive change for its people, planet and community, including its new program giving all global employees one paid day per year to volunteer to support causes that they care about in the communities where our associates live and work. Tapestry organizes year-round volunteering opportunities for employees and will encourage them to engage with United Way of Southern Nevada’s impactful corporate volunteer program.
Additionally, in alignment with Tapestry’s commitment to reduce its direct environmental impacts and increase its focus on renewable energy, the NVFC project is being designed for LEED Gold® certification. The new fulfillment center will be partially powered by a solar array on its roof, use innovative landscaping to minimize water usage, have energy efficient lighting throughout the facility, and feature electric vehicle charging stations.
“The new North Las Vegas Fulfillment Center is another example of the power of Tapestry’s unique platform, which allows us to scale innovation across our brands and channels and support continued growth.” said Joanne Crevoiserat, CEO of Tapestry, Inc. “We are delighted to join the North Las Vegas community with this facility which will include cutting-edge technology solutions that enable us to better serve our West Coast customers.”
FULFILLMENT CENTER INNOVATION
The NVFC will leverage some of the latest advancements in materials handling equipment technology, including a Goods-to-Person system, which increases efficiency, speed and storage capacity through automation and interaction with management systems to optimize the allocation processes. Serving Coach and Kate Spade, the facility is designed to distribute an annual 22.2 million units and hold 4 million units in inventory for both retail and eCommerce. Upon expected completion in 2022, the NVFC will span over 788,000 square feet.
John Jay Lee, Mayor of North Las Vegas added, “We are delighted that Tapestry chose North Las Vegas as the location for their state-of-the-art fulfillment center. North Las Vegas has a proven track record of recruiting and attracting cutting-edge industry leaders who are also good corporate citizens, and through their purpose-led and people-centered philosophy, Tapestry is already making a positive impact in our community as the company expands into the City.”
Ken Sanders, Tapestry’s SVP of Fulfillment and Logistics, said, “We are thrilled to break ground on our new North Las Vegas Fulfillment Center and bring additional jobs to the North Las Vegas community with our largest, most technologically advanced facility to date. We are grateful for the collaboration of Clarion Partners, Seefried Industrial Properties, JLL, and many local and state leaders who helped make this facility a reality.”
Hiring for the NVFC has already begun. Tapestry offers competitive wages and a comprehensive benefits package, including paid time off, 401(K) savings plan and Company match, financial education resources and training, medical benefits for full- and eligible part-time employees, and paid sick leave for all employees. For more information about job opportunities in Tapestry’s NVFC, visit https://careers.tapestry.com/.
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. Follow us on LinkedIn and Instagram.
About Clarion Partners
Clarion Partners, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 39 years. Headquartered in New York, the firm maintains strategically located offices across the United States and Europe. With more than $65 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 500 domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.
About Seefried Industrial Properties
Founded in 1984 by Ferdinand Seefried, Seefried Industrial Properties specializes in the development, leasing and management of industrial real estate in key markets across the U.S. Seefried leases and manages approximately 35 million square feet for its institutional and European clients and has developed, or is in the process of developing, approximately 190 million square feet of space valued in excess of $13 billion across 30+ markets. Based in Atlanta, the firm has regional offices in Dallas, Chicago, Los Angeles and Phoenix. For more information, please visit www.seefriedproperties.com.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About United Way of Southern Nevada:
United Way of Southern Nevada (UWSN) believes that everyone deserves a roof over their heads, a good job, and access to a quality education. For over 64 years, UWSN has united our community to improve people’s lives. Funds raised in Southern Nevada stay here and help provide support to one in four individuals. Join us and help ensure that every person in our community has the opportunity to succeed. Give today at uwsn.org and connect with us on Facebook @UnitedWaySN, Instagram, Twitter, and YouTube @UWSN, LinkedIn at United Way of Southern Nevada, and TikTok @UWSN702.
What is Tapestry, Inc.'s new fulfillment center project about?
Tapestry, Inc. has broken ground on a new fulfillment center in North Las Vegas, aiming to enhance its omni-channel capabilities and create over 400 jobs.
How many jobs will Tapestry's new fulfillment center create?
The new fulfillment center in North Las Vegas is expected to create over 400 full-time jobs by 2029.
What are the environmental features of Tapestry's new fulfillment center?
The fulfillment center is designed for LEED Gold certification and will incorporate renewable energy solutions, including a solar array and energy-efficient systems.
What brands will the new North Las Vegas fulfillment center serve?
The new fulfillment center will serve Coach and Kate Spade brands.
What is the expected annual distribution capacity of the new fulfillment center?
The facility is designed to distribute an annual 22.2 million units.
