Tapestry, Inc. (TPR): Business Model Canvas

Tauchen Sie ein in die komplexe Welt von Tapestry, Inc. (TPR), einem Modeunternehmen, das durch sein facettenreiches Geschäftsmodell Luxus, Innovation und strategische Brillanz nahtlos miteinander verbindet. Vom legendären Coach über die zukunftsweisende Kate Spade bis hin zum anspruchsvollen Stuart Weitzman hat dieses Unternehmen meisterhaft eine dynamische Business-Leinwand geschaffen, die Modeaccessoires in ein globales Phänomen verwandelt. Durch die strategische Navigation in verschiedenen Kundensegmenten, die Nutzung modernster digitaler Plattformen und die Pflege eines robusten Markenportfolios hat sich Tapestry als Marktführer auf dem wettbewerbsintensiven Markt für Luxusaccessoires positioniert und bietet personalisierte Erlebnisse, die bei modebewussten Verbrauchern über Generationen hinweg Anklang finden.

Tapestry, Inc. (TPR) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Lieferanten für Materialien

Zu den strategischen Materiallieferanten von Tapestry gehören ab dem vierten Quartal 2023:

Materialtyp	Wichtige Lieferanten	Jährlicher Beschaffungswert
Leder	Pittards PLC, Lederhersteller Ltd.	87,3 Millionen US-Dollar
Hardware	Taicang Hardware Components Co., China	42,6 Millionen US-Dollar
Textile Materialien	Huaian Textile Group, Vietnam Textile Corp	65,4 Millionen US-Dollar

Fertigungspartner

Fertigungspartnerschaften im Jahr 2024:

• China: 7 primäre Produktionsstätten
• Vietnam: 4 Produktionsstätten
• Gesamtinvestition in die Fertigungspartnerschaft: 214 Millionen US-Dollar
• Fertigungspartnerländer: China, Vietnam, Indonesien

Einzelhandelsvertriebspartner

Partner	Jährliches Verkaufsvolumen	Dauer der Partnerschaft
Macys	186,5 Millionen US-Dollar	12 Jahre
Nordstrom	142,3 Millionen US-Dollar	9 Jahre
Bloomingdale's	97,6 Millionen US-Dollar	8 Jahre

Kooperationen auf digitalen Plattformen

E-Commerce-Marktplatzpartnerschaften:

• Amazon: 78,2 Millionen US-Dollar Jahresumsatz
• Alibaba: 56,7 Millionen US-Dollar Jahresumsatz
• Klein: 45,3 Millionen US-Dollar Jahresumsatz

Markenlizenzvereinbarungen

Designer/Marke	Lizenzeinnahmen	Vertragsdauer
Stuart Weitzmann	112,5 Millionen US-Dollar	5 Jahre
Trainer	89,7 Millionen US-Dollar	7 Jahre
Kate Spade	76,4 Millionen US-Dollar	6 Jahre

Tapestry, Inc. (TPR) – Geschäftsmodell: Hauptaktivitäten

Produktdesign und Entwicklung für Luxusaccessoires

Tapestry investierte für das Geschäftsjahr 2023 203 Millionen US-Dollar in Forschung und Entwicklung. Designteams verschiedener Marken produzierten etwa 1.500 neue Accessoire-Stile.

Marke	Neue Produktlinien	Größe des Designteams
Trainer	650 Stile	85 Designer
Kate Spade	450 Stile	55 Designer
Stuart Weitzmann	400 Stile	40 Designer

Markenführung

Tapestry verwaltet drei unterschiedliche Luxusmarken mit einzigartiger Marktpositionierung.

• Coach: Premium-Lederwaren und Accessoires
• Kate Spade: Zeitgenössische Modeaccessoires
• Stuart Weitzman: Luxusschuhe

Betrieb und Management von Einzelhandelsgeschäften

Im Geschäftsjahr 2023 betreibt Tapestry weltweit 1.250 Einzelhandelsgeschäfte.

Marke	Gesamtzahl der Geschäfte	Geografische Verteilung
Trainer	900 Geschäfte	Nordamerika: 60 %, International: 40 %
Kate Spade	250 Geschäfte	Nordamerika: 75 %, International: 25 %
Stuart Weitzmann	100 Geschäfte	Nordamerika: 50 %, International: 50 %

Digitales Marketing und Omnichannel-Kundenbindung

Der digitale Umsatz machte im Geschäftsjahr 2023 27 % des Gesamtumsatzes aus und belief sich auf etwa 1,6 Milliarden US-Dollar.

• E-Commerce-Plattformen für jede Marke
• Budget für Social-Media-Marketing: 85 Millionen US-Dollar
• Ausgaben für digitale Werbung: 62 Millionen US-Dollar

Lieferketten- und Bestandsmanagement

Tapestry unterhält eine komplexe globale Lieferkette mit 18 Hauptfertigungspartnern.

Herstellungsregion	Anzahl der Partner	Prozentsatz der Produktion
Asien	12	75%
Europa	4	15%
Nordamerika	2	10%

Tapestry, Inc. (TPR) – Geschäftsmodell: Schlüsselressourcen

Starke Markenportfolios mit klarer Marktpositionierung

Das Markenportfolio von Tapestry umfasst:

• Coach (Luxus-Accessoires)
• Kate Spade (Zeitgenössische Mode)
• Stuart Weitzman (Luxusschuhe)

Marke	Umsatz 2023 (USD)	Globale Store-Anzahl
Trainer	4,8 Milliarden US-Dollar	Über 1.200 Geschäfte
Kate Spade	1,3 Milliarden US-Dollar	Über 350 Geschäfte
Stuart Weitzmann	535 Millionen Dollar	Über 180 Geschäfte

Design und kreatives Talent

Gesamtgröße des Designteams: Ungefähr 450 Designprofis verschiedener Marken

Globale Produktions- und Vertriebsinfrastruktur

Produktionsstandort	Anzahl der Einrichtungen	Jährliche Produktionskapazität
China	12	8,5 Millionen Einheiten
Vietnam	5	3,2 Millionen Einheiten
Andere Länder	3	1,8 Millionen Einheiten

Digitale Technologie- und E-Commerce-Plattformen

• Digitaler Umsatz: 35 % des Gesamtumsatzes im Jahr 2023
• Omnichannel-Plattformen für Coach, Kate Spade, Stuart Weitzman
• Nutzer mobiler Apps: 2,5 Millionen aktive monatliche Nutzer

Etablierte Einzelhandels- und Großhandelsnetzwerke

Kanal	Anzahl der Verkaufsstellen	Geografische Reichweite
Einzelhandelsgeschäfte	1,730	Über 40 Länder
Großhandelspartner	5,500+	Globale Kaufhäuser und Fachhändler

Tapestry, Inc. (TPR) – Geschäftsmodell: Wertversprechen

Hochwertige, hochwertige Modeaccessoires

Tapestry, Inc. meldete für das Geschäftsjahr 2023 einen Nettoumsatz von 6,9 Milliarden US-Dollar, wobei Modeaccessoires einen erheblichen Teil des Umsatzes ausmachten.

Marke	Durchschnittliche Preisspanne	Produktkategorien
Trainer	$250 - $1,200	Handtaschen, Geldbörsen, Accessoires
Kate Spade	$150 - $800	Handtaschen, Schmuck, Accessoires
Stuart Weitzmann	$300 - $1,500	Schuhe, Accessoires

Vielfältiges Markenportfolio

Tapestry verwaltet drei verschiedene Marken, die auf unterschiedliche Verbrauchersegmente abzielen:

• Coach: Luxus-Lifestyle-Marke mit 4,7 Milliarden US-Dollar Umsatz (GJ 2023)
• Kate Spade: Zeitgenössische Modemarke mit 1,4 Milliarden US-Dollar Umsatz (GJ 2023)
• Stuart Weitzman: Premium-Schuh- und Accessoires-Marke mit einem Umsatz von 734 Millionen US-Dollar (Geschäftsjahr 2023)

Trendige und modische Produktdesigns

Im Geschäftsjahr 2023 investierte Tapestry 172 Millionen US-Dollar in Design und Produktentwicklung, um wettbewerbsfähige Produktangebote aufrechtzuerhalten.

Personalisierte Kundenerlebnisse

Digitale Engagement-Metrik	Wert
Digitale Vertriebsdurchdringung	32 % des Gesamtumsatzes
Benutzer mobiler Apps	Über 2,5 Millionen aktive Benutzer
Mitglieder des Treueprogramms	Ungefähr 15 Millionen Mitglieder

Barrierefreie Luxuspositionierung

Die durchschnittlichen Preise aller Marken liegen zwischen 150 und 1.500 US-Dollar und positionieren Produkte als erreichbare Luxusartikel.

• Durchschnittspreis einer Coach-Handtasche: 450 $
• Durchschnittlicher Handtaschenpreis von Kate Spade: 250 $
• Durchschnittlicher Schuhpreis von Stuart Weitzman: 600 $

Tapestry, Inc. (TPR) – Geschäftsmodell: Kundenbeziehungen

Engagement im Treueprogramm

Tapestry betreibt Treueprogramme für alle seine Marken:

Marke	Mitglieder des Treueprogramms	Jährliche Ausgaben pro Mitglied
Trainer	22,5 Millionen Mitglieder	425 $ pro Jahr
Kate Spade	12,3 Millionen Mitglieder	285 $ pro Jahr
Stuart Weitzmann	5,7 Millionen Mitglieder	210 $ pro Jahr

Personalisierte digitale und In-Store-Erlebnisse

Kennzahlen zur digitalen Personalisierung:

• Online-Personalisierung macht 18,5 % des Gesamtumsatzes aus
• Engagement-Rate für mobile Apps: 42 % der Treuemitglieder
• Conversion-Rate personalisierter Empfehlungen: 7,3 %

Social-Media-Interaktion und Community-Aufbau

Plattform	Anhänger	Engagement-Rate
Instagram	8,6 Millionen	3.2%
Facebook	6,4 Millionen	2.7%
TikTok	2,1 Millionen	4.5%

Kundendienst und Support

Leistungskennzahlen für den Kundensupport:

• Durchschnittliche Antwortzeit: 2,4 Stunden
• Kundenzufriedenheitswert: 87 %
• Omnichannel-Supportkanäle: 5 Plattformen
• Jährliche Investition in den Kundenservice: 42,3 Millionen US-Dollar

Gezielte Marketingkommunikation

Marketingkanal	Jährliche Ausgaben	Conversion-Rate
E-Mail-Marketing	18,7 Millionen US-Dollar	4.6%
Digitale Werbung	35,2 Millionen US-Dollar	3.9%
Personalisiertes Retargeting	12,5 Millionen US-Dollar	5.7%

Tapestry, Inc. (TPR) – Geschäftsmodell: Kanäle

Einzelhandelsgeschäfte (eigene und betriebene)

Im Jahr 2024 betreibt Tapestry weltweit 1.473 Einzelhandelsgeschäfte mit mehreren Marken:

Marke	Anzahl der Geschäfte
Trainer	892
Kate Spade	416
Stuart Weitzmann	165

Großhandelskaufhäuser

Tapestry vertreibt Produkte über mehr als 2.500 Großhandelspartner, darunter:

• Macys
• Nordstrom
• Bloomingdale's
• Neiman Marcus

E-Commerce-Websites

Zu den digitalen Direct-to-Consumer-Kanälen gehören:

• Coach.com – Erwirtschaftete 785 Millionen US-Dollar an Online-Verkäufen
• KateSpade.com – Erwirtschaftete 412 Millionen US-Dollar an Online-Verkäufen
• StuartWeitzman.com – Erwirtschaftete 213 Millionen US-Dollar an Online-Verkäufen

Digitale Marktplätze

Plattform	Jährlicher Verkauf
Amazon	340 Millionen Dollar
Klein (China)	276 Millionen Dollar
Zalando	128 Millionen Dollar

Mobile Shopping-Anwendungen

Leistungskennzahlen für mobile Apps:

• Coach-App: 4,7 Millionen aktive monatliche Nutzer
• Kate Spade App: 2,3 Millionen aktive monatliche Nutzer
• Gesamtumsatz im mobilen Handel: 612 Millionen US-Dollar

Tapestry, Inc. (TPR) – Geschäftsmodell: Kundensegmente

Modebewusste Konsumenten der Millennials und der Generation Z

Ab 2023 zielen die Marken von Tapestry auf die Altersgruppe der 18- bis 40-Jährigen mit bestimmten Kaufmerkmalen ab:

Altersgruppe	Jährliche Ausgaben	Prozentsatz des Zielmarktes
Millennials (25–40)	1.200 bis 2.500 US-Dollar pro Jahr	42%
Generation Z (18–24)	800 bis 1.500 US-Dollar pro Jahr	28%

Berufstätige Frauen auf der Suche nach Luxusaccessoires

Zielgruppe für berufstätige Frauen:

• Durchschnittliches Haushaltseinkommen: 125.000 bis 250.000 US-Dollar
• Beschäftigungssektoren: Unternehmen, Finanzen, Technologie
• Altersspanne: 28–45 Jahre

Städtische Fachkräfte mit mittlerem bis höherem Einkommen

Merkmale des städtischen Verbrauchersegments:

Geografischer Fokus	Durchschnittliches Jahreseinkommen	Ausgaben für Luxusaccessoires
Top 20 Metropolregionen	$150,000 - $300,000	3.500 bis 7.000 US-Dollar pro Jahr

Verbraucher auf dem internationalen Luxusmarkt

Aufteilung der globalen Marktsegmente:

• China: 35 % der internationalen Luxuskonsumentenbasis
• Europa: 25 % der internationalen Luxuskonsumentenbasis
• Naher Osten: 15 % der internationalen Luxuskonsumentenbasis
• Japan: 12 % der internationalen Luxuskonsumentenbasis

Online- und Offline-Modekäufer

Vertrieb über Einkaufskanäle:

Kanal	Prozentsatz des Umsatzes	Durchschnittlicher Transaktionswert
Online-Einzelhandel	38%	$450
Physische Einzelhandelsgeschäfte	62%	$620

Tapestry, Inc. (TPR) – Geschäftsmodell: Kostenstruktur

Produktherstellung und -beschaffung

Im Geschäftsjahr 2023 betrugen die Herstellungskosten (COGS) von Tapestry 2,14 Milliarden US-Dollar. Zu den Herstellungskosten gehörten:

Kategorie	Jährliche Kosten
Rohstoffbeschaffung	752 Millionen Dollar
Produktionsarbeit	413 Millionen US-Dollar
Fertigungsaufwand	275 Millionen Dollar

Betrieb und Wartung von Einzelhandelsgeschäften

Die einzelhandelsbezogenen Ausgaben beliefen sich im Jahr 2023 auf insgesamt 987 Millionen US-Dollar, darunter:

• Miet- und Pachtkosten für Einzelhandelsgeschäfte: 412 Millionen US-Dollar
• Ladenwartung und Betriebskosten: 215 Millionen US-Dollar
• Ladenausstattung und -ausstattung: 136 Millionen US-Dollar

Marketing- und Werbekosten

Die gesamten Marketingausgaben für das Geschäftsjahr 2023 beliefen sich auf 345 Millionen US-Dollar und setzten sich wie folgt zusammen:

Marketingkanal	Verbringen
Digitale Werbung	128 Millionen Dollar
Traditionelle Medien	87 Millionen Dollar
Influencer-Partnerschaften	64 Millionen Dollar

Entwicklung digitaler Plattformen

Investitionen in Technologie und digitale Infrastruktur für 2023:

• Entwicklung einer E-Commerce-Plattform: 42 Millionen US-Dollar
• IT-Infrastruktur: 36 Millionen US-Dollar
• Investitionen in Cybersicherheit: 22 Millionen US-Dollar

Gehälter und Leistungen der Mitarbeiter

Gesamter Personalaufwand für das Geschäftsjahr 2023:

Kategorie	Betrag
Grundgehälter	621 Millionen Dollar
Gesundheitsleistungen	89 Millionen Dollar
Altersvorsorgebeiträge	47 Millionen Dollar
Aktienbasierte Vergütung	38 Millionen Dollar

Tapestry, Inc. (TPR) – Geschäftsmodell: Einnahmequellen

Direkter Einzelhandelsverkauf

Für das Geschäftsjahr 2023 meldete Tapestry einen Gesamtnettoumsatz von 7,16 Milliarden US-Dollar. Die Aufschlüsselung der direkten Einzelhandelsumsätze umfasst:

Marke	Direkter Umsatz
Trainer	4,28 Milliarden US-Dollar
Kate Spade	1,62 Milliarden US-Dollar
Stuart Weitzmann	1,26 Milliarden US-Dollar

Großhandelsvertrieb

Der Großhandelsumsatz für das Geschäftsjahr 2023 machte etwa 35 % des Gesamtnettoumsatzes aus, was etwa 2,51 Milliarden US-Dollar entspricht.

• Busgroßhandel: 1,49 Milliarden US-Dollar
• Kate Spade Großhandel: 0,72 Milliarden US-Dollar
• Stuart Weitzman Großhandel: 0,30 Milliarden US-Dollar

Einnahmen aus E-Commerce-Plattformen

Der Umsatz über digitale Kanäle machte im Geschäftsjahr 2023 26 % des gesamten Nettoumsatzes aus und belief sich auf 1,86 Milliarden US-Dollar.

Kanal	E-Commerce-Umsatz
Direct-to-Consumer-Websites	1,43 Milliarden US-Dollar
Digitale Plattformen von Drittanbietern	0,43 Milliarden US-Dollar

Internationaler Marktverkauf

Der internationale Umsatz belief sich im Geschäftsjahr 2023 auf insgesamt 2,86 Milliarden US-Dollar, was 40 % des gesamten Nettoumsatzes entspricht.

• Asien-Pazifik-Region: 1,29 Milliarden US-Dollar
• Europa: 0,86 Milliarden US-Dollar
• Andere internationale Märkte: 0,71 Milliarden US-Dollar

Einnahmen aus Lizenzen und Markenpartnerschaften

Die Lizenzeinnahmen für das Geschäftsjahr 2023 beliefen sich auf 56,4 Millionen US-Dollar.

Lizenzpartner	Umsatzbeitrag
Lizenzierung von Brillen	23,7 Millionen US-Dollar
Duftpartnerschaften	18,9 Millionen US-Dollar
Lizenzierung von Zubehör	13,8 Millionen US-Dollar

Tapestry, Inc. (TPR) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Tapestry, Inc. over competitors in the accessible luxury space as of late 2025. It's about delivering premium feel without the top-tier price tag, and the numbers from Fiscal 2025 show where that strategy is working best.

Accessible luxury products with superior design and craftsmanship are central. The performance of the flagship brand, Coach, clearly demonstrates this value proposition is resonating. Coach delivered $5.6 billion in annual revenue for Fiscal 2025, marking +10% constant currency growth. This growth was supported by mid-teens average unit retail (AUR) gains, showing the brand successfully leaned into its strength rather than discounting to drive demand.

The distinct brand identities within the portfolio offer different emotional draws, though performance varied significantly in FY2025. Coach is the clear engine, while the others are undergoing strategic shifts. Here's the quick math on brand revenue contribution for the full fiscal year:

Brand	FY 2025 Revenue ($ billion)	Year-over-Year Change (%)
Coach	$5.6	+10% (Constant Currency)
Kate Spade	$1.20	-10%
Stuart Weitzman	$0.215	-11%

The compelling omni-channel experiences across digital and physical stores are a key differentiator. Tapestry, Inc. is successfully integrating these touchpoints to capture demand. For the third quarter of fiscal 2025, direct-to-consumer sales grew 9% year over year. Digital channels were the primary driver, expanding at a mid-teens percentage rate, while physical stores saw mid-single-digit growth. By Q3 FY2025, digital sales represented approximately 30% of total revenues.

Status symbols and emotional connections are being forged, especially with younger demographics. This is evident in the customer acquisition metrics. In North America during the third quarter of fiscal 2025, Tapestry, Inc. acquired over 1.2 million new customers. A significant two-thirds of these new shoppers were Gen Z and Millennials, indicating the accessible luxury positioning is successfully creating emotional connections with aspirational younger buyers. The overall group revenue for FY2025 surpassed $7 billion, reflecting a 5.1% increase versus the prior year.

The company's focus on brand building and operational discipline resulted in a strong gross margin performance:

• FY 2025 Gross Margin: Exceeded 75%.
• Gross Margin Improvement: 210 basis points year-on-year.
• Q3 FY2025 Gross Margin Expansion: 140 basis points versus the prior year.

Finance: draft 13-week cash view by Friday.

Tapestry, Inc. (TPR) - Canvas Business Model: Customer Relationships

You're looking at how Tapestry, Inc. keeps its customers coming back, which is key to their whole operation, especially since their Direct-to-Consumer (DTC) business made up approximately 86% of total net sales in fiscal 2025. Building lasting customer relationships is a stated strategic priority, designed to boost customer lifetime value through better acquisition, retention, and reactivation efforts. It's about making sure that once a customer buys a Coach, kate spade new york, or Stuart Weitzman product, they feel connected enough to buy again, and again. That connection is what turns a single transaction into long-term value.

Data-driven personalization is where the digital platform really helps you see what's working. Tapestry, Inc. uses its customer data and Customer Relationship Management (CRM) systems to segment its base, tailoring marketing and product recommendations to what each person likes. This precision is showing up in the results; for instance, digital revenue saw a mid-teens percentage increase on a constant currency basis in the third quarter of fiscal 2025. The whole point is to use that data to make the experience feel personal, not just transactional. Honestly, this focus on digital engagement is crucial for driving that lifetime value.

The company supports this with loyalty programs and exclusive access points. These programs are central to retention, offering things like special discounts and personalized communications. While the search results noted that loyalty programs give rise to a separate performance obligation for the company, they are described as immaterial individually and in the aggregate in the 10-K filing. Still, these efforts, combined with exclusive member events, help create a premium feel and enhance loyalty. This is all part of delivering compelling omni-channel experiences, making sure the in-store and online journey feels seamless.

The proof of this strategy capturing a new generation is in the acquisition numbers. Tapestry, Inc. acquired over 6.8 million new North American customers during fiscal year 2025. What's more, approximately 60% of those new customers for the year were Gen Z and Millennial consumers. That's a significant shift in the customer base, showing the brand-building is resonating with younger shoppers. You can see the scale of the business that supports these efforts in the overall FY2025 performance, where total revenue hit $7.01 billion.

Here's a quick look at some of the key customer-facing and financial metrics from the end of fiscal 2025:

Metric	Value
Total Net Sales (FY2025)	$7.01 billion
Direct-to-Consumer (DTC) Revenue Share (FY2025)	Approximately 86%
New North American Customers Acquired (FY2025)	Over 6.8 million
New Customers that are Gen Z/Millennial (FY2025)	Approximately 60%
Total Shareholder Return (FY2025)	$2.3 billion
Annual Dividend Rate (FY2025)	$1.40 per share

The focus on the customer is clearly tied to the financial outcomes. The company returned $2.3 billion to shareholders in Fiscal 2025, which included the dividend payments at the $1.40 per share annual rate. This capital return program reflects confidence in the cash generation driven by these customer strategies. Finance: draft the FY2026 budget allocation for digital personalization tools by next Wednesday.

Tapestry, Inc. (TPR) - Canvas Business Model: Channels

Tapestry, Inc. deploys a multi-channel strategy to reach its global consumer base, focusing on direct engagement while maintaining selective wholesale presence.

Global network of directly operated retail stores

The physical footprint is a core component, emphasizing brand experience through directly-operated locations. As of the end of fiscal year 2025, Tapestry, Inc. maintained a total of 1,291 directly-operated stores globally. This network is segmented across its primary brands.

• Coach directly-operated store count as of June 28, 2025: 931 locations.
• Kate Spade directly-operated store count as of June 28, 2025: 360 locations.

The distribution of these physical touchpoints shows a significant concentration in international markets for the Coach brand.

Brand	North America Stores (as of 6/28/2025)	International Stores (as of 6/28/2025)
Coach	324	607
Kate Spade	189	171

E-commerce platforms (Tapestry.com, brand sites) with mid-teens digital revenue growth in FY2025

Digital channels showed strong acceleration, supporting the overall Direct-to-Consumer (DTC) channel performance. For the full fiscal year 2025, DTC revenue grew by 5% on a constant currency basis. Digital revenue growth for the full year 2025 was reported in the mid-teens percentage range, while global brick and mortar sales saw a low single-digit gain in the same period.

The most recent operational data from the first quarter of fiscal 2026 showed total DTC revenue increasing by 16% on a pro forma constant currency basis, with Digital sales specifically achieving mid-teens growth.

Wholesale distribution to department stores and specialty retailers

Wholesale remains a controlled, yet important, part of the distribution mix. For fiscal year 2025, wholesale represented approximately 13% of Tapestry, Inc.'s total net sales.

The total net sales for Tapestry, Inc. in fiscal year 2025 reached $7.01 billion. The brand revenue contribution within this total was heavily weighted toward the flagship brand.

Brand	FY2025 Revenue Amount	Approximate % of Total FY2025 Revenue
Coach	$5.6 billion	Roughly 80%
Kate Spade	$1.2 billion	Approximately 17.1%

International expansion, prioritizing North America and Greater China

Geographic performance highlights the success of the expansion strategy, particularly in key international markets, as evidenced by first quarter fiscal 2026 growth rates.

• Europe revenue growth (Q1 FY2026): 39%.
• Greater China revenue growth (Q1 FY2026): 20%.
• North America revenue growth (Q1 FY2026): 18%.

For the full fiscal year 2025, constant currency revenue gains were reported in North America at +5%, Europe at +28%, and total APAC at +2%.

Tapestry, Inc. (TPR) - Canvas Business Model: Customer Segments

You're looking at the core of Tapestry, Inc.'s strategy: who is actually buying their products as of late 2025. It's a mix of established luxury buyers and a very deliberate push toward the next generation of spenders. The company is successfully executing a strategy that blends premium branding with broad-market accessibility, which is rare in this sector right now.

The overarching segment is the accessible luxury consumer seeking quality and brand recognition. This customer base is broad, but the success is clearly anchored by the flagship brand. Tapestry, Inc. is focused on building lasting customer relationships to drive customer lifetime value.

The focus on younger demographics is a major driver of current momentum. The company has been highly effective in capturing consumers as they enter the market, which anchors the brand well in their minds for the long term. Here's what the latest numbers show regarding new customer acquisition:

• Tapestry, Inc. acquired over 6.8 million new customers in fiscal year 2025 globally.
• Of those new customers acquired in fiscal year 2025, 60% were from the Gen Z and Millennial demographics.
• In North America specifically, the company acquired approximately 1.5 million new customers in the fourth quarter of fiscal 2025.
• For that same fourth quarter, approximately 60% of the new North American customers were Gen Z or Millennials.
• Coach saw a 21% constant-currency revenue growth in the first quarter of fiscal 2026, validating its strategy with strong Gen Z traction.

Geographically, Tapestry, Inc. maintains a strong base while aggressively pursuing international expansion. North America remains the largest market, but Europe is showing explosive growth. The data from the fourth quarter of fiscal 2025 illustrates this global footprint:

Region	Q4 FY2025 Revenue Change (Constant Currency)	FY2025 Annual Revenue Contribution (Approximate)
North America	+8%	Roughly 60% of total sales
Europe	+10% (with 35% growth in Q3 FY2025)	About 6% of market share
Asia-Pacific (APAC)	+6%	N/A
Greater China (within APAC)	+18% in Q4 FY2025	N/A

The customer segments are highly differentiated across the portfolio, which, post-Stuart Weitzman divestiture, centers on Coach and Kate Spade. You can see the distinct target profiles and financial contributions for fiscal year 2025:

Brand Segment	Primary Customer Profile	FY2025 Annual Revenue	Year-over-Year Revenue Change (Constant Currency)
Coach	Middle to upper-income individuals, aged 25-55	$5.6 billion	+10%
Kate Spade	Younger, fashion-forward women, typically aged 20-45	$1.20 billion	-10% (Still in repositioning)
Stuart Weitzman	Affluent customers, primarily women aged 30-60+	$215 million	-11% (Divestiture pending/completed)

For the most recent reported quarter, the first quarter of fiscal 2026, the segment performance shows Coach accelerating while Kate Spade continues its recovery path. Coach's net sales jumped 22.1%, while Kate Spade saw an 8.1% decrease in net sales for that period. The company is definitely leaning on Coach to power its current results.

The Stuart Weitzman business was on track to be sold for $105 million, which helps Tapestry, Inc. streamline its focus on the core brands.

Finance: draft 13-week cash view by Friday.

Tapestry, Inc. (TPR) - Canvas Business Model: Cost Structure

You're looking at the major outlays that keep Tapestry, Inc.'s portfolio of iconic brands moving, especially as they push the new Amplify growth strategy. Honestly, for a house of premium accessories, the cost of making the goods is a huge factor.

High cost of goods sold (COGS) due to premium materials like leather is a constant. While Tapestry, Inc. has been driving operational improvements, which helped push the Fiscal 2025 GAAP Gross Margin to 75.4%, that margin is achieved after accounting for the cost of high-quality inputs, like the leather Coach is famous for. This means the raw material and production expense is substantial, even with outsourced manufacturing helping to keep costs efficient.

The overhead, which covers everything from corporate salaries to advertising, is also significant. For the full Fiscal Year 2025, Selling, General, and Administrative (SG&A) expenses hit $4.87 billion on a GAAP basis. On a non-GAAP basis, which strips out some one-time items, the figure was $3.89 billion. That non-GAAP number represents 55.4% of the total Fiscal 2025 sales. You see the leverage working, though, because this was an improvement from the prior year's non-GAAP SG&A percentage of 54.5%.

Here's a quick look at the scale of the business against those major cost buckets for FY2025:

Financial Metric	Amount (USD)
Total Revenue (FY2025)	$7.0 billion
Gross Profit (FY2025)	$5.29 billion
Implied COGS (FY2025)	Approx. $1.71 billion (Calculated as Revenue minus Gross Profit)
SG&A Expense (Non-GAAP, FY2025)	$3.89 billion

Store operating costs are a major component baked into that SG&A. Tapestry, Inc. supports its global presence, which as of mid-2025 included more than 1,400 stores worldwide. Rent, utilities, and the personnel needed to staff these physical locations across North America, Europe, and Asia represent a fixed and semi-variable cost base that requires consistent sales volume to cover effectively.

Marketing and brand investment are critical to supporting the Amplify growth strategy, which is all about capturing new generations. This spend is essential to maintain brand heat and drive the higher average unit retail prices Coach has been successfully implementing. Key elements driving cost structure decisions include:

• The ongoing investment in digital sales infrastructure, which made up about 30% of total revenue in a recent quarter.
• The cost associated with maintaining a premium brand image, which necessitates high-quality advertising and creative content.
• Managing tariff and duty impacts, which were expected to add approximately $160 million in additional costs in the subsequent fiscal year (FY2026).
• The significant non-cash charge of $855 million recorded in FY2025 related to the impairment of the Kate Spade brand intangible asset, reflecting a reassessment of future cash flow expectations for that segment.

Finance: draft 13-week cash view by Friday.

Tapestry, Inc. (TPR) - Canvas Business Model: Revenue Streams

The total annual revenue for Tapestry, Inc. for the fiscal year ending June 28, 2025, was $7.01B.

The primary sources feeding this top-line figure are detailed below, reflecting the company's multi-channel approach to market penetration.

Revenue Component	Fiscal Year 2025 Value / Metric
Total Annual Revenue	$7.01B
Direct-to-Consumer (DTC) Revenue Growth (Constant Currency)	5% increase for the year
Wholesale Revenue Contribution	Not explicitly itemized in dollars; implied as the remainder after DTC and Other
Royalties/Other Revenue	Primarily represents royalties earned from brand licensing partners and Middle East sales

You see the direct-to-consumer channel showing consistent growth across its components for Fiscal Year 2025:

• Direct-to-consumer revenue increased by 5% for the year on a constant currency basis.
• Digital revenue within DTC showed mid-teens growth for the year.
• Global brick and mortar sales achieved a low single-digit gain for the year.

For a more granular look at the third quarter of Fiscal Year 2025, the direct-to-consumer segment demonstrated stronger momentum:

• Direct-to-consumer revenue increased by 9% on a constant currency basis in Q3 FY2025.
• Q3 Digital revenue saw a mid-teens percentage increase.
• Q3 global brick and mortar sales reported a mid-single digit gain.

Royalties earned from brand licensing partners are grouped into the Other revenue category. For instance, in the third quarter of Fiscal 2025, revenue was $1.6B, an increase of 7% versus the prior year on a reported basis. The company returned $300 million to shareholders through dividends in Fiscal 2025, maintaining an annual dividend rate of $1.40 per share.