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About Tapestry, Inc.

Tapestry is weaving together a collection of leading premium fashion brands. Previously Coach, the company designs and makes (mostly through third parties) high-end leather goods and accessories, including handbags, wallets, and luggage under the Coach brand. It also licenses the Coach name for watches, eyewear, and fragrances. In addition, through acquisitions, Tapestry owns the Stuart Weitzman (luxury women's shoes) and Kate Spade (women's apparel and accessories) brands. The company sells its wares through department and outlet stores (in the US and globally) and websites. More than 55% of total revenue comes from US.


Tapestry reports through three primary segments: Coach (some 70% of revenue), Kate Spade (nearly a quarter), and Stuart Weitzman (about 5%).

The Coach brand include leather goods and accessories such as handbags, wallets, wristlets, and cosmetic cases. It also licenses its name to third parties for watches (Movado), eyewear (Luxottica), and fragrances (Interparfums). The segment's products are sold through some 1,700 wholesale and distributor locations as well as about 960 Coach stores.

Kate Spade's offerings include handbags, ready-to-wear, jewelry, footwear, gifts, and home décor. The brand is also licensed to third parties for bedding, eyewear, tableware, and a host of other products. The segment's products are sold through some 1,000 wholesale and distributor locations as well as approximately 420 Kate Spade stores.

Footwear is the domain of Stuart Weitzman, although the brand is expanding into handbags and accessories. Its products are sold through some 900 wholesale and distributor locations as well as over 130 Stuart Weitzman stores.

Geographic Reach

Tapestry directly operates more than 1,500 stores in North America and international countries. Leading markets include the US (over 55% of sales), China (about 15%), and Japan (more than 10%).

The New York-based company has distribution, product development, and quality control locations in the US, Canada, Hong Kong, China, Japan, South Korea, Vietnam, the Philippines, Singapore, Spain, and the UK.

Sales and Marketing

Tapestry's products are sold through department stores and other third-party retailers.

In fiscal 2020, fiscal 2019 and fiscal 2018, advertising expenses for the Company totaled $238.0 million, $247.1 million and $228.4 million, respectively.

Financial Performance

Since 2016, Tapestry's revenue experienced fluctuation and cannot maintain its growth. The same happened for the company's income for that five-year period.

In fiscal 2020 (ended June), the company reported revenue of $5 billion, down 18% from the prior year. This decrease was driven by the impact of the Covid-19 outbreak on its business.

Net income that year suffered a loss of $652.1 million. This decrease was primarily due to lower operating income, partially offset by a decrease in the provision for income taxes.

Cash at the end of fiscal 2020 was $1.4 billion, an increase of $457.1 million from the prior year. Cash from operations contributed to the coffers was $407 million, while investing activities provided another $44.3 million, coming from proceeds from maturities and sales of investments. Financing activities also generated $6 million from revolver proceeds.


The Company's growth is dependent on its overall operating strategy which historically group elect flagship locations with other stores located within the geographic area surrounding the flagship store as the Company believed the assets of the related group benefited from the Company's investments in the flagship location.

Beginning in fiscal 2020, the Company began to: Evaluate select flagship store closures across all brands; be more selective about new store openings as it focuses on store productivity; and Invest more significantly in growing its digital business and capabilities. Following this shift in strategy, during the quarter ended September 28, 2019, the Company determined for these certain flagship locations that the individual store represents the lowest level of independent identifiable cash flows. As a result, the Company identified impairment indicators at certain flagship store locations and recorded lease ROU assets and property and equipment asset impairment charges.

The Company's international expansion strategy has been to enter into joint ventures and establish distributor relationships to build market presence and capability. To further accelerate brand awareness, aggressively grow market share and to exercise greater control of its brands, the Company has historically acquired its joint venture partner's interests or distribution rights in these international regions.

Mergers and Acquisitions

In fiscal 2019, Tapestry acquired designated assets of its Stuart Weitzman distributor in Southern China and Australia and of its Kate Spade distributor in Australia, Malaysia and Singapore, for $47.8 million.

Company Background

Tapestry traces its roots to the 1941 founding of leather goods maker Coach, Inc., which was acquired by Sara Lee Corporation in 1985. It went public in 2000 and Sara Lee divested its remaining ownership in 2001. 

Coach acquired Stuart Weitzman, a luxury women's footwear firm, in fiscal 2015 and Kate Spade, a lifestyle accessories and ready-to-wear company, in fiscal 2018. That year the company changed its name to Tapestry to reflect its multi-brand portfolio.

Tapestry, Inc.

10 Hudson Yards FL 18
New York, NY 10001-2158
Phone: 1 (212) 594-1850

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: TPR
Stock Exchange: , NYSE
President, Chief Administrative Officer, and Secretary: Todd Kahn
CEO and Interim CEO, Kate Spade & Company: Victor Luis
Chairman: Jide J. Zeitlin
Employees (This Location): 277
Employees (All Locations): 17,300

Major Office Locations

New York, NY

Other Locations

Anchorage, AK
Foley, AL
Mountain Brk, AL
Vestavia, AL
Chandler, AZ
Gilbert, AZ
Glendale, AZ
Scottsdale, AZ
Tucson, AZ
Alpine, CA
Arcadia, CA
Arleta, CA
Barstow, CA
Beverly Hills, CA
Brea, CA
Burlingame, CA
Cabazon, CA
Calabasas, CA
Calexico, CA
Camarillo, CA
Canoga Park, CA
Cerritos, CA
Commerce, CA
Corte Madera, CA
Costa Mesa, CA
Escondido, CA
Glendale, CA
La Jolla, CA
Lake Arrowhead, CA
Livermore, CA
Los Angeles, CA
Modesto, CA
Montebello, CA
Napa, CA
Newport Beach, CA
Ontario, CA
Palm Desert, CA
Palo Alto, CA
Pasadena, CA
Pleasanton, CA
Roseville, CA
Sacramento, CA
San Diego, CA
San Francisco, CA
San Jose, CA
Santa Ana, CA
Santa Clara, CA
Santa Monica, CA
Santa Rosa, CA
Sherman Oaks, CA
Tejon Ranch, CA
Tracy, CA
Tulare, CA
Vacaville, CA
Walnut Creek, CA
Woodland Hills, CA
Broomfield, CO
Castle Rock, CO
Denver, CO
Lakewood, CO
Littleton, CO
Clinton, CT
Farmington, CT
Greenwich, CT
Stamford, CT
Uncasville, CT
Washington, DC
Newark, DE
Rehoboth Beach, DE
Altamonte Springs, FL
Boca Raton, FL
Brandon, FL
Coral Gables, FL
Coral Springs, FL
Ellenton, FL
Estero, FL
Fort Lauderdale, FL
Fort Myers, FL
Gainesville, FL
Hialeah, FL
Jacksonville, FL
Key West, FL
Lutz, FL
Miami, FL
Naples, FL
Orlando, FL
Palm Beach, FL
Palm Beach Gardens, FL
Pompano Beach, FL
Saint Augustine, FL
Sunrise, FL
Tampa, FL
Vero Beach, FL
West Palm Beach, FL
Alpharetta, GA
Atlanta, GA
Buford, GA
Darien, GA
Dawsonville, GA
Locust Grove, GA
Pooler, GA
Woodstock, GA
Honolulu, HI
Waikoloa, HI
Waipahu, HI
West Des Moines, IA
Williamsburg, IA
Boise, ID
Aurora, IL
Chicago, IL
Geneva, IL
Hinsdale, IL
Northbrook, IL
Oak Brook, IL
Orland Park, IL
Schaumburg, IL
Skokie, IL
Tuscola, IL
Vernon Hills, IL
Evansville, IN
Fort Wayne, IN
Fremont, IN
Greenwood, IN
Indianapolis, IN
Michigan City, IN
Mishawaka, IN
Kansas City, KS
Shawnee Mission, KS
Wichita, KS
Lexington, KY
Louisville, KY
Simpsonville, KY
Metairie, LA
Shreveport, LA
Boston, MA
Braintree, MA
Burlington, MA
Chestnut Hill, MA
East Sandwich, MA
Lee, MA
Marlborough, MA
Natick, MA
Wrentham, MA
Annapolis, MD
Baltimore, MD
Bethesda, MD
Columbia, MD
Hagerstown, MD
Kensington, MD
Ocean City, MD
Oxon Hill, MD
Queenstown, MD
Freeport, ME
South Portland, ME
Ann Arbor, MI
Auburn Hills, MI
Birch Run, MI
Byron Center, MI
Clinton Township, MI
Grandville, MI
Howell, MI
Livonia, MI
Novi, MI
Sterling Heights, MI
Troy, MI
West Branch, MI
Albertville, MN
Edina, MN
Hopkins, MN
Minneapolis, MN
North Branch, MN
Rochester, MN
Saint Paul, MN
Branson, MO
Independence, MO
Kansas City, MO
Osage Beach, MO
Saint Louis, MO
Springfield, MO
Warrenton, MO
Southaven, MS
Blowing Rock, NC
Charlotte, NC
Concord, NC
Mebane, NC
Raleigh, NC
Omaha, NE
Nashua, NH
North Conway, NH
Salem, NH
Tilton, NH
Atlantic City, NJ
Carlstadt, NJ
Cherry Hill, NJ
Edison, NJ
Hackensack, NJ
Jackson, NJ
Marlton, NJ
Newark, NJ
North Bergen, NJ
Paramus, NJ
Rockaway, NJ
Sea Girt, NJ
Short Hills, NJ
Shrewsbury, NJ
Tinton Falls, NJ
Wayne, NJ
Santa Fe, NM
Henderson, NV
Jean, NV
Las Vegas, NV
Reno, NV
Albany, NY
Amagansett, NY
Central Valley, NY
Cheektowaga, NY
El Paso, NY
Garden City, NY
Glendale, NY
Huntington Station, NY
Manhasset, NY
Monroe, NY
New York, NY
Niagara Falls, NY
Riverhead, NY
White Plains, NY
Canton, OH
Cincinnati, OH
Cleveland, OH
Columbus, OH
Dublin, OH
Fairlawn, OH
Jeffersonville, OH
Monroe, OH
Sunbury, OH
Toledo, OH
West Chester, OH
Westlake, OH
Wilmington, OH
Oklahoma City, OK
Tulsa, OK
Portland, OR
Tualatin, OR
Woodburn, OR
Ardmore, PA
Grove City, PA
Hershey, PA
King Of Prussia, PA
Lahaska, PA
Lancaster, PA
Langhorne, PA
Philadelphia, PA
Pittsburgh, PA
Reading, PA
Whitehall, PA
San Juan, PR
Providence, RI
Bluffton, SC
Charleston, SC
Gaffney, SC
Greenville, SC
Myrtle Beach, SC
Chattanooga, TN
Dyersburg, TN
Elizabethton, TN
Germantown, TN
Knoxville, TN
Lebanon, TN
Nashville, TN
Sevierville, TN
Allen, TX
Austin, TX
Cypress, TX
Dallas, TX
El Paso, TX
Frisco, TX
Grand Prairie, TX
Houston, TX
Katy, TX
Laredo, TX
Mcallen, TX
Mercedes, TX
Murphy, TX
Plano, TX
Rockwall, TX
Round Rock, TX
San Antonio, TX
San Marcos, TX
Spring, TX
Sugar Land, TX
Terrell, TX
Texas City, TX
Tyler, TX
Park City, UT
Arlington, VA
Charlottesville, VA
Fairfax, VA
Leesburg, VA
Mc Lean, VA
Richmond, VA
Williamsburg, VA
Woodbridge, VA
Manchester Center, VT
Bellevue, WA
Bellingham, WA
Federal Way, WA
Kennewick, WA
Quil Ceda Village, WA
Seattle, WA
Tacoma, WA
Tukwila, WA
Madison, WI
Pleasant Prairie, WI
Adachi-Ku, Japan
Akita, Japan
Aomori, Japan
Chiba, Japan
Chitose, Japan
Chiyoda-Ku, Japan
Chuo-Ku, Japan
Ebina, Japan
Fuchu, Japan
Fujisawa, Japan
Fukui, Japan
Fukuoka, Japan
Fukuyama, Japan
Funabashi, Japan
Gamou-Gun, Japan
Gifu, Japan
Gotemba, Japan
Hachioji, Japan
Hakodate, Japan
Hamamatsu, Japan
Hanyu, Japan
Himeji, Japan
Hiroshima, Japan
Hokuto, Japan
Imba-Gun, Japan
Inashiki-Gun, Japan
Iruma, Japan
Izumisano, Japan
Kagoshima, Japan
Kanazawa, Japan
Kashihara, Japan
Kashiwa, Japan
Kawagoe, Japan
Kawasaki, Japan
Kisarazu, Japan
Kitahiroshima, Japan
Kitakyushu, Japan
Kita Saku-Gun, Japan
Kobe, Japan
Kofu, Japan
Koriyama, Japan
Koshigaya, Japan
Koto-Ku, Japan
Kumagaya, Japan
Kumamoto, Japan
Kurashiki, Japan
Kusatsu, Japan
Kushiro, Japan
Kuwana, Japan
Kyoto, Japan
Machida, Japan
Matsudo, Japan
Matsue, Japan
Matsuyama, Japan
Minato-Ku, Japan
Mito, Japan
Miyazaki, Japan
Moriguchi, Japan
Morioka, Japan
Musashino, Japan
Nagano, Japan
Nagasaki, Japan
Nagoya, Japan
Naha, Japan
Nara, Japan
Narita, Japan
Nasushiobara, Japan
Niigata, Japan
Nishinomiya, Japan
Obihiro, Japan
Odawara, Japan
Oita, Japan
Okayama, Japan
Okazaki, Japan
Osaka, Japan
Ota-Ku, Japan
Otsu, Japan
Oyabe, Japan
Sagamihara, Japan
Saitama, Japan
Sakai, Japan
Sano, Japan
Sapporo, Japan
Sendai, Japan
Setagaya-Ku, Japan
Shibuya-Ku, Japan
Shimonoseki, Japan
Shinjuku-Ku, Japan
Shizuoka, Japan
Suita, Japan
Sumida-Ku, Japan
Tachikawa, Japan
Taito-Ku, Japan
Takamatsu, Japan
Takasaki, Japan
Takatsuki, Japan
Toki, Japan
Tokoname, Japan
Tokorozawa, Japan
Tokushima, Japan
Tomigusuku, Japan
Toshima-Ku, Japan
Tosu, Japan
Tottori, Japan
Toyama, Japan
Toyohashi, Japan
Toyonaka, Japan
Toyota, Japan
Utsunomiya, Japan
Wakayama, Japan
Yamaguchi, Japan
Yokkaichi, Japan
Yokohama, Japan
Yonago, Japan
Burlington, Canada
Burnaby, Canada
Calgary, Canada
Côte Saint-Luc, Canada
Edmonton, Canada
Georgetown, Canada
Kitchener, Canada
London, Canada
Markham, Canada
Mississauga, Canada
Newmarket, Canada
North York, Canada
Ottawa, Canada
Pointe-Claire, Canada
Richmond, Canada
Rocky View County, Canada
Thornhill, Canada
Toronto, Canada
Vancouver, Canada
Victoria, Canada
West Vancouver, Canada
Windsor, Canada
Paris, France