TAPESTRY Business Summary

Tapestry, Inc. (TPR) is a leading global house of modern luxury brands that generates revenue primarily through the design and sale of high-end accessories, leather goods, and lifestyle products. As of March 2026, the company’s business model is concentrated on two core segments: Coach, which serves as the primary growth engine contributing over 80% of total revenue, and Kate Spade; this follows the strategic divestiture of the Stuart Weitzman brand to Caleres in August 2025. Tapestry operates an omni-channel distribution network, deriving the majority of its income from direct-to-consumer (DTC) channels—including a global fleet of retail and outlet stores and a robust e-commerce platform—complemented by a controlled wholesale presence. The company competes directly with Capri Holdings, Ralph Lauren, PVH Corp., and the entry-level luxury segments of LVMH. Within this competitive set, Tapestry distinguishes itself as the leader in "accessible luxury," leveraging its centralized "Amplify" platform to maintain gross margins above 75% and drive high engagement among Gen Z and Millennial consumers. The company is led by Chief Executive Officer Joanne Crevoiserat, who assumed the role in 2020 after serving as COO at Abercrombie & Fitch and CFO at Kohl’s. Supporting her is Scott Roe, who serves as Chief Financial Officer and Chief Operating Officer, bringing over 25 years of experience from his tenure as CFO of VF Corporation. The executive team also includes Todd Kahn, CEO and Brand President of Coach, and Eva Erdmann, who leads the Kate Spade brand. While the modern corporate entity was established via the 2017 rebranding of Coach, Inc.—a firm originally founded in 1941 by Lillian and Miles Cahn—its current strategic direction is governed by a board chaired by Susan Kropf. Notable board members include Anne Gates (formerly of Disney) and David Denton (CFO of Pfizer). Tapestry’s shareholder base is dominated by institutional giants such as Vanguard and BlackRock, who have supported the company’s post-2024 pivot toward aggressive share repurchases and organic brand elevation following the regulatory termination of the Capri Holdings acquisition.