Mission Statement, Vision, & Core Values of Tapestry, Inc. (TPR)

What drives a fashion powerhouse like Tapestry, Inc., home to iconic brands such as Coach, Kate Spade, and Stuart Weitzman? Is it just about the bottom line, or is there something more profound guiding their strategic decisions? With a $6.67 billion in net sales for fiscal year 2024, how does Tapestry balance financial performance with its broader purpose?

Understanding Tapestry's mission, vision, and core values offers a glimpse into the soul of the company, revealing what truly matters beyond the numbers. How do these guiding principles shape their approach to innovation, customer engagement, and social responsibility? Dive in to discover the values that steer this global house of brands.

Tapestry, Inc. (TPR) An Overview of

Tapestry, Inc. is a global house of brands that includes Coach, Kate Spade, and Stuart Weitzman. Founded in 1941, Coach initially started as a family-run workshop in Manhattan, producing leather goods. Over the years, it evolved from a manufacturer of wallets and billfolds into a leading American designer of fine accessories and gifts for women and men. Kate Spade, established in 1993, quickly gained recognition for its vibrant and stylish handbags, apparel, and accessories. Stuart Weitzman, renowned for its innovative designs and craftsmanship in luxury footwear, joined the Tapestry portfolio in 2015, further diversifying the company's offerings.

As of April 2025, Tapestry's products are sold globally through a network of directly-operated stores, outlet locations, and e-commerce platforms, as well as through wholesale partners. The company has a significant presence in North America, Asia, and Europe. While specific, real-time sales figures for April 2025 are not available, Tapestry consistently aims to deliver high-quality, beautifully designed products that resonate with consumers worldwide.

Tapestry, Inc. demonstrated strong financial performance in fiscal year 2024. The company reported record revenue of $6.66 billion, marking an 11% increase on a reported basis and a 12% increase in constant currency. This growth was primarily driven by significant increases in sales from Coach and Kate Spade. Coach, the company’s largest brand, saw sales rise to $4.95 billion, while Kate Spade’s sales reached $1.49 billion. Additionally, Tapestry experienced substantial growth in international markets, particularly in Asia, reinforcing its global presence and market penetration.

Key highlights from the fiscal year 2024 financial results include:

• Gross Profit: Increased to $4.54 billion, representing a gross margin of 68.1%.
• Operating Income: Reached $1.25 billion, with an operating margin of 18.8%.
• Net Income: Totaled $973 million, or $4.09 per diluted share.

Tapestry, Inc. stands as a leader in the global fashion and accessories industry, driven by its iconic brands and commitment to innovation. The company's strategic focus on enhancing brand equity, expanding its digital presence, and delivering compelling products has solidified its position in the market. To understand the factors driving Tapestry's success and its appeal to investors, explore: Exploring Tapestry, Inc. (TPR) Investor Profile: Who’s Buying and Why?

Tapestry, Inc. (TPR) Mission Statement

Tapestry, Inc. operates as a global house of brands uniting Coach, Kate Spade New York, and Stuart Weitzman. The company focuses on leveraging collective strengths to connect with customers, empower communities, promote sustainability, and foster an equitable, inclusive, and diverse environment.

According to Tapestry, Inc., their mission is to 'Elevate the best in our people and our brands. We use our collective strengths to move our customers and empower our communities, make the fashion industry more sustainable, and build a house that is equitable, inclusive, and diverse'.

Tapestry's mission embodies three core components:

• Global Luxury Fashion and Lifestyle Brand Positioning: Tapestry, Inc. aims to manage global luxury brands across various fashion segments.
• Consumer Experience: The company focuses on enhancing the consumer experience in the fashion and accessories market.
• Digital Transformation: Tapestry emphasizes digital brand development.

Core Components of Tapestry, Inc.'s Mission Statement

Tapestry's mission statement is multifaceted, encompassing key elements that drive its strategic objectives and operational practices.

1. Empowering People and Brands

Tapestry aims to elevate its people and brands by:

• Fostering a Culture of Belonging: Redefining company values and reinforcing efforts to build a culture of belonging where differences spark brilliance.
• Diversity and Inclusion: Implementing 'The Power of Our People Goals 2025 and Beyond' to enhance diversity in leadership and bridge inclusion gaps across gender and ethnicity.
• Employee Resource Groups: Launching employee resource groups to connect people, develop professional skills, and provide mutual support.

2. Sustainability and Ethical Responsibility

Tapestry is dedicated to making the fashion industry more sustainable through:

• The Fabric of Change: Tapestry's framework that encapsulates its vision for a better-made future.
• Reducing Environmental Impact: Committing to reducing its environmental impact.
• Corporate Responsibility Goals: Establishing corporate responsibility goals aligned with the 'Our Social Fabric' strategy, focusing on people, planet, and communities.
• Innovation and Circularity: Focusing on producing quality products through material efficiency, embracing circularity, and driving innovation across the supply chain.
• Reducing GHG Emissions: In fiscal year 2024, Tapestry's Scope 1 and 2 GHG emissions were reduced by 84% compared to its fiscal year 2021 baseline.

3. Community Engagement and Inclusivity

Tapestry strives to empower communities and promote inclusivity by:

• Community Investments: Believing that investing in communities, people, and sustainability initiatives drives innovation and long-term success.
• Volunteerism: Encouraging employees to volunteer in their communities, with over 65,000 hours volunteered in fiscal year 2024, moving towards a target of 500,000 hours by 2030.
• Supporting BIPOC Community: Partnering with the FIT Social Justice Center to provide scholarships, mentorship, and career support for the BIPOC fashion community.
• Global Core Benefit Standard: Enabling employees to manage work-life balance by achieving a global core benefit standard for self-care, parental, and family care leave policies.

For more insights into Tapestry, Inc., explore Exploring Tapestry, Inc. (TPR) Investor Profile: Who’s Buying and Why?

Tapestry, Inc. (TPR) Vision Statement of

To truly understand the direction and principles guiding a company like Tapestry, Inc., it's essential to examine its mission, vision, and core values. These elements provide a roadmap for the company's strategic decisions and daily operations. For more in-depth information, you can also check out: Tapestry, Inc. (TPR): History, Ownership, Mission, How It Works & Makes Money

Tapestry, Inc. is a global house of brands. Their vision reflects the aspirations and future direction of the company. Understanding these components is crucial for anyone looking to grasp the essence of what Tapestry, Inc. aims to achieve and how it conducts its business.

Mission Statement

Tapestry’s mission statement is 'To stretch what’s possible.'

This succinct statement encapsulates the company's commitment to innovation and pushing boundaries within the fashion and retail industry. It suggests a forward-thinking approach, emphasizing the pursuit of new ideas and continuous improvement across all aspects of the business.

• Innovation: A drive to explore new designs, materials, and technologies.
• Customer Experience: A focus on exceeding customer expectations through personalized and engaging interactions.
• Operational Excellence: A commitment to efficiency and effectiveness in all processes.

Vision Statement

Tapestry’s vision statement is “To be the leading New York-based house of modern luxury lifestyle brands.”

This statement clearly defines the company's ambition to hold a prominent position in the luxury market, rooted in the heritage and style of New York. It signals a focus on creating and curating brands that resonate with consumers seeking contemporary luxury.

• Leading Position: Aiming for the top spot in the luxury market.
• New York Heritage: Leveraging the city's reputation as a fashion and cultural hub.
• Modern Luxury: Focusing on contemporary designs and consumer preferences.
• Lifestyle Brands: Offering a range of products that cater to various aspects of a consumer's life.

Core Values

Tapestry’s core values are:

• Optimistic, Innovative, and Inclusive

These values represent the guiding principles that shape the company's culture and behavior. They highlight a positive outlook, a commitment to creativity, and a welcoming approach to diversity and collaboration.

• Optimistic: Maintaining a positive and forward-looking attitude.
• Innovative: Encouraging creativity and the development of new ideas.
• Inclusive: Embracing diversity and fostering a collaborative environment.

Tapestry, Inc. (TPR) Core Values of

To maintain its competitive edge and achieve long-term success, a company must cultivate a robust set of core values. These values guide its actions, shape its culture, and define its relationship with stakeholders. This chapter delves into the core values that underpin Company's operations and strategic direction. These values are not merely aspirational statements; they are deeply embedded in the company's DNA and reflected in its day-to-day activities.

Explore more about Company and its investors: Exploring Tapestry, Inc. (TPR) Investor Profile: Who’s Buying and Why?

Optimistic, Inclusive, and Innovative

Company's core values are built on a foundation of optimism, inclusion, and innovation. These values guide the company's actions and shape its culture, influencing how it interacts with employees, customers, and the broader community.

• Optimism: Company fosters a positive and forward-thinking environment, believing in the potential for growth and success. This optimism permeates the organization, encouraging employees to approach challenges with a can-do attitude.
• Inclusion: Company embraces diversity and strives to create a workplace where everyone feels valued and respected. This commitment to inclusion extends to its products, marketing, and community engagement efforts.
• Innovation: Company is committed to pushing boundaries and exploring new possibilities. This value drives the company to invest in research and development, experiment with new technologies, and continuously improve its products and processes.

Specific Examples of Company's Commitment to Core Values

Company demonstrates its commitment to its core values through a variety of programs, initiatives, and actions. These examples provide concrete evidence of how the company translates its values into tangible outcomes.

• Employee Programs: Company offers a range of employee programs designed to promote well-being, professional development, and work-life balance. These programs reflect the company's commitment to creating a supportive and inclusive workplace.
• Sustainability Initiatives: Company is actively working to reduce its environmental impact through sustainable sourcing, manufacturing, and distribution practices. These initiatives demonstrate the company's commitment to environmental responsibility and long-term sustainability.
• Community Engagement: Company supports a variety of community organizations and initiatives through philanthropic giving, employee volunteerism, and partnerships. These efforts reflect the company's commitment to giving back to the communities where it operates.

These are examples of how Company translates its core values into action, shaping its culture and driving its success.