TAPESTRY, INC. (TPR)

Tapestry, Inc. is a global house of accessories and lifestyle brands that unites Coach and kate spade new york. The company designs and sells handbags, accessories, footwear and related lifestyle products, and says it aims to build lasting brand love and extend its brands to new geographies and generations. In fiscal 2026 (year ended June 27, 2026), it reported net sales of $8.0 billion. In early fiscal 2026 it introduced a growth strategy called "Amplify," built around consumer connection, fashion and product innovation, global growth led by Greater China and Europe, and its people.

The company has two reportable segments. Coach, founded in New York City in 1941, accounted for 86.4% of fiscal 2026 net sales ($6.9 billion). Kate Spade, launched in 1993, accounted for 13.4% ($1.1 billion). Both segments sell through direct-to-consumer, wholesale and licensing channels. Tapestry sold its Stuart Weitzman business on August 4, 2025, and Stuart Weitzman contributed only $14.6 million (0.2%) of fiscal 2026 net sales. By product category, handbags made up about 58% of total net sales, accessories about 28%, footwear about 6% and other items (outerwear, ready-to-wear, jewelry, watches, eyewear, fragrance and licensing royalties) about 9%. Kate Spade also offers home décor and gifts.

Direct-to-consumer sales were about 87% of net sales. They come from freestanding retail stores, outlet stores, concession shop-in-shops and brand e-commerce sites, plus third-party digital marketplaces. Coach had 973 stores and Kate Spade 326 at fiscal year-end, in North America and internationally. E-commerce operates in the U.S., Canada, Japan, Greater China, Europe, Australia and elsewhere in Asia. Wholesale was about 12% of net sales, serving department stores, specialty stores and digital partners. No customer exceeded 10% of any segment's net sales. Licensing partners such as Luxottica, Movado, Interparfums, Safilo and Case-Mate make products like eyewear, watches and fragrance, and royalties are about 1% of net sales.

Tapestry uses independent manufacturers rather than owning factories. Coach products are made mainly in Vietnam, Cambodia, the Philippines and India, and Kate Spade products mainly in Vietnam, Cambodia, the Philippines and Bangladesh. No vendor supplied 10% or more of either brand's inventory purchases. Sourcing offices in Vietnam, mainland China, the Philippines and Cambodia oversee manufacturers, and suppliers undergo quality and social compliance reviews. Fulfillment centers are run by Tapestry in Florida, Nevada and Ohio, with third-party centers in Canada, mainland China, the Netherlands, the United Kingdom, Singapore and other regions. Each brand has its own design and merchandising team, and marketing spend was $962.5 million, or 12% of net sales. The company owns the COACH and KATE SPADE trademarks and other intellectual property. It faces intense competition on style, price, service, quality and brand recognition, and imported goods are subject to tariffs and trade regulations. Tapestry had about 20,600 employees, about 16,800 of them in retail locations.