Tapestry Named One of America’s 50 Most Community-Minded Companies by Points of Light

Rhea-AI Summary

Tapestry, a global house of brands including Coach, kate spade new york, and Stuart Weitzman, has been recognized as one of America's 50 most community-minded companies by Points of Light for the second consecutive year. Tapestry was also named Sector Leader in the Consumer Discretionary industry. The company emphasizes making the fashion industry more sustainable and ensuring equity, inclusivity, and diversity.

Tapestry's strategic social impact includes achieving 100,000 volunteer hours by 2021, with a new goal of 500,000 by FY2030, and donating $75 million to nonprofits by FY2025. The Coach Foundation’s 'Dream It Real' program has supported over 170,000 young people and funded 5,279 scholarships. Kate Spade's 'On Purpose' initiative in Rwanda empowers women, providing full-time employment and mental health training to over 250 women. Stuart Weitzman's 'Bold Movers' program partners with Vital Voices to support gender equity initiatives.

For more information, visit Tapestry's website.

Positive

• Tapestry recognized as one of America’s 50 most community-minded companies by Points of Light.
• Named Sector Leader in Consumer Discretionary industry.
• Achieved 100,000 volunteer hours by 2021; new goal of 500,000 hours by FY2030.
• Committed $75 million in financial/product donations to nonprofits by FY2025.
• Coach Foundation's 'Dream It Real' reached 170,000+ young people and funded 5,279 scholarships.
• Kate Spade's 'On Purpose' initiative provided 250+ women with full-time jobs and mental health training.
• Stuart Weitzman's 'Bold Movers' program supports gender equity and provides grants for initiatives.

Negative

• Increased goal of 500,000 volunteer service hours may strain resources.
• Commitment of $75 million in donations could impact financials if not managed well.

NORTHAMPTON, MA / ACCESSWIRE / May 16, 2024 / Tapestry, Inc.
Company also recognized as Leader in Consumer Discretionary sector

Tapestry employees volunteering

Tapestry, a global house of brand consisting of Coach, kate spade new york and Stuart Weitzman, for the second year in a row, has been recognized as one of America's 50 most community-minded companies by Points of Light. For the first year, Tapestry has also been named as the Sector Lead for the Consumer Discretionary industry.

Tapestry is committed to driving change on pressing global social issues through strategic investment. We use our collective strengths to help make the fashion industry more sustainable and to build a company that's equitable, inclusive and diverse.

Our approach to social impact is to invest where we believe our brands and people can create the most impact, in line with the brand's distinct purposes. We champion causes that are important to Tapestry, our people and our values.

Tapestry's 19 Bold Goals set targets across key areas that we would achieve by 2025. To date, the "community" pillar, we have met two of our three original goals:

• 100,000 volunteer hours completed by 2025. This was achieved in 2021. Our new goal is 500,000 volunteer service hours completed by our employees around the world by FY2030.
• $75 million in financial and product donations to nonprofit organizations globally by FY2025.

Coach, kate spade new york, and Stuart Weitzman are also making change with their respective programs.

Since the launch of Dream it Real in 2018, the Coach Foundation has reached over 170,000 young people; funded 5,279 scholarships funded, paired 250 college students with Tapestry employee mentors and has eight active Dream It Real programs globally, including China, Japan and North America. Dream It Real programs offer scholarship, mentorship, belonging and wrap-around support and partnership to help young people gain access to post-secondary education.

"Volunteering through the Coach Cares program has been transformational," says Megan Christiansen, a Coach store manager in Southern California. "Not only has the program strengthened connection within each other, our communities and organizations, but it's also illuminated the power we hold both individually and collectively to shape a brighter tomorrow."

kate spade new york's women's empowerment and mental health journey started in 2013 in Rwanda with its On Purpose initiative. The company set out to use their supply chain to empower women and encourage sustainable practices in their community. Through their business partner Abahizi CBC a B-corporation certified and employee-owned business located in Masoro, Rwanda, over 250 women have full-time employment, 95% of the workforce has attended empowerment and mental health training, and 90% of women feeling they can make a decision regarding family planning by themselves or jointly with their partner.

Divya Kaushal, an area leader with kate spade new york says, "Social impact is important as it empowers us to be powerful, progressive and sensitive leaders by embracing everyone's true potential and authenticity."

Stuart Weitzman continued its partnership with Vital Voices through a bespoke program called Bold Movers: Investing in Women Working Toward Gender Equity. This new, seven-week leadership training and mentoring program is dedicated to investing in women advancing inclusive workplace initiatives, specifically to address challenges for working mothers and caregivers. Participants will be eligible to receive a grant to help further their missions.

Morgan LaBar, associate manager at Stuart Weitzman, said, "Celebrating International Women's Day in our office with the Vital Voices Bold Movers cohort was one of the most meaningful and memorable days I've had at Stuart Weitzman. It was incredible to meet a group of women all making a difference in their communities and knowing that our brand supports them in doing this made me proud to work here!"

Tapestry is honored to be recognized for our efforts to stretch what's possible for our communities. Read more about our efforts in volunteering and community investment here.

View additional multimedia and more ESG storytelling from Tapestry, Inc. on 3blmedia.com.

Contact Info:
Spokesperson: Tapestry, Inc.
Website: https://www.3blmedia.com/profiles/tapestry-inc
Email: info@3blmedia.com

SOURCE: Tapestry, Inc.

View the original press release on accesswire.com

FAQ

What recognition did Tapestry receive from Points of Light?

Tapestry was named one of America's 50 most community-minded companies by Points of Light for the second year in a row.

What sector did Tapestry lead according to Points of Light?

Tapestry was named Sector Leader in the Consumer Discretionary industry.

What is Tapestry's new volunteer service hours goal?

Tapestry aims to achieve 500,000 volunteer service hours by FY2030.

How much has Tapestry committed to donate to nonprofits by FY2025?

Tapestry has committed to donating $75 million to nonprofits globally by FY2025.

What is the Coach Foundation’s 'Dream It Real' program?

The 'Dream It Real' program by Coach Foundation supports young people through scholarships, mentorship, and post-secondary education access.

What is the purpose of kate spade new york's 'On Purpose' initiative?

The 'On Purpose' initiative empowers women in Rwanda through employment and mental health training.

What does Stuart Weitzman's 'Bold Movers' program focus on?

The 'Bold Movers' program invests in women working toward gender equity and provides leadership training and grants.