Tapestry, Inc. (TPR): modelo de negócios [Jan-2025 Atualizado]

Mergulhe no intrincado mundo da Tapestry, Inc. (TPR), uma potência da moda que combina perfeitamente luxo, inovação e brilho estratégico por meio de seu modelo de negócios multifacetado. Do treinador icônico à tendência Kate Spade e à sofisticada Stuart Weitzman, esta empresa criou magistralmente uma tela de negócios dinâmicos que transforma acessórios de moda em um fenômeno global. Ao navegar estrategicamente diversos segmentos de clientes, alavancar plataformas digitais de ponta e manter um portfólio de marcas robustas, a tapeçaria se posicionou como líder no mercado competitivo de acessórios de luxo, oferecendo experiências personalizadas que ressoam com os consumidores conscientes da moda em todas as gerações.

Tapestry, Inc. (TPR) - Modelo de negócios: Parcerias -chave

Fornecedores estratégicos para materiais

A partir do quarto trimestre 2023, os fornecedores de materiais estratégicos da tapeçaria incluem:

Tipo de material	Principais fornecedores	Valor anual de compras
Couro	Pittards plc, Leather Manufacturers Ltd.	US $ 87,3 milhões
Hardware	Taicang Hardware Components Co., China	US $ 42,6 milhões
Materiais têxteis	Grupo Têxtil Huaiano, Vietnã Têxtil Corp	US $ 65,4 milhões

Parceiros de fabricação

Parcerias de fabricação em 2024:

• China: 7 instalações de fabricação primárias
• Vietnã: 4 instalações de fabricação
• Investimento total de parceria de fabricação: US $ 214 milhões
• Países parceiros de manufatura: China, Vietnã, Indonésia

Parceiros de distribuição de varejo

Parceiro	Volume anual de vendas	Duração da parceria
Macy's	US $ 186,5 milhões	12 anos
Nordstrom	US $ 142,3 milhões	9 anos
Bloomingdale's	US $ 97,6 milhões	8 anos

Colaborações da plataforma digital

Parcerias do mercado de comércio eletrônico:

• Amazon: US $ 78,2 milhões de vendas anuais
• Alibaba: US $ 56,7 milhões de vendas anuais
• TMall: US $ 45,3 milhões de vendas anuais

Acordos de licenciamento de marca

Designer/marca	Receita de licenciamento	Duração do acordo
Stuart Weitzman	US $ 112,5 milhões	5 anos
Treinador	US $ 89,7 milhões	7 anos
Kate Spade	US $ 76,4 milhões	6 anos

Tapestry, Inc. (TPR) - Modelo de negócios: Atividades -chave

Design e desenvolvimento de produtos para acessórios de luxo

A tapeçaria investiu US $ 203 milhões em pesquisa e desenvolvimento para o ano fiscal de 2023. As equipes de design em marcas produziram aproximadamente 1.500 novos estilos de acessórios.

Marca	Novas linhas de produtos	Tamanho da equipe de design
Treinador	650 estilos	85 designers
Kate Spade	450 estilos	55 designers
Stuart Weitzman	400 estilos	40 designers

Gerenciamento de marca

A tapeçaria gerencia três marcas de luxo distintas com posicionamento único de mercado.

• Treinador: Artigos de couro premium e acessórios
• Kate Spade: Acessórios de moda contemporânea
• Stuart Weitzman: calçados de luxo

Operações e gerenciamento de lojas de varejo

A partir do ano fiscal de 2023, a tapeçaria opera 1.250 lojas de varejo globalmente.

Marca	Total de lojas	Distribuição geográfica
Treinador	900 lojas	América do Norte: 60%, internacional: 40%
Kate Spade	250 lojas	América do Norte: 75%, internacional: 25%
Stuart Weitzman	100 lojas	América do Norte: 50%, internacional: 50%

Marketing digital e engajamento de clientes omnichannel

As vendas digitais representaram 27% da receita total no ano fiscal de 2023, totalizando aproximadamente US $ 1,6 bilhão.

• Plataformas de comércio eletrônico para cada marca
• Orçamento de marketing de mídia social: US $ 85 milhões
• Gastes de publicidade digital: US $ 62 milhões

Cadeia de suprimentos e gerenciamento de inventário

A tapeçaria mantém uma complexa cadeia de suprimentos global com 18 parceiros de fabricação primários.

Região de fabricação	Número de parceiros	Porcentagem de produção
Ásia	12	75%
Europa	4	15%
América do Norte	2	10%

Tapestry, Inc. (TPR) - Modelo de negócios: Recursos -chave

Portfólios de marcas fortes com posicionamento de mercado distinto

O portfólio de marcas da Tapestry inclui:

• Treinador (acessórios de luxo)
• Kate Spade (moda contemporânea)
• Stuart Weitzman (calçados de luxo)

Marca	Receita 2023 (USD)	Contagem global de lojas
Treinador	US $ 4,8 bilhões	1.200 mais de lojas
Kate Spade	US $ 1,3 bilhão	350 mais de lojas
Stuart Weitzman	US $ 535 milhões	180+ lojas

Design e talento criativo

Tamanho total da equipe de design: Aproximadamente 450 profissionais de design em marcas

Infraestrutura de fabricação e distribuição global

Local de fabricação	Número de instalações	Capacidade de produção anual
China	12	8,5 milhões de unidades
Vietnã	5	3,2 milhões de unidades
Outros países	3	1,8 milhão de unidades

Tecnologia digital e plataformas de comércio eletrônico

• Receita digital: 35% da receita total em 2023
• Plataformas omnichannel para treinador, Kate Spade, Stuart Weitzman
• Usuários de aplicativos móveis: 2,5 milhões de usuários mensais ativos

Redes de varejo e atacado estabelecidas

Canal	Número de pontos de venda	Alcance geográfico
Lojas de varejo	1,730	Mais de 40 países
Parceiros por atacado	5,500+	Lojas de departamento globais e varejistas especializados

Tapestry, Inc. (TPR) - Modelo de Negócios: Proposições de Valor

Acessórios de moda premium e de alta qualidade

A Tapeestry, Inc. reportou vendas líquidas de US $ 6,9 bilhões no ano fiscal de 2023, com acessórios de moda representando uma parcela significativa da receita.

Marca	Faixa de preço médio	Categorias de produtos
Treinador	$250 - $1,200	Bolsas, carteiras, acessórios
Kate Spade	$150 - $800	Bolsas, jóias, acessórios
Stuart Weitzman	$300 - $1,500	Sapatos, acessórios

Portfólio de marcas diversificadas

A tapeçaria gerencia três marcas distintas direcionadas a diferentes segmentos de consumidores:

• Treinador: marca de estilo de vida de luxo com US $ 4,7 bilhões em receita (EF 2023)
• Kate Spade: marca de moda contemporânea com US $ 1,4 bilhão em receita (FY 2023)
• Stuart Weitzman: marca de calçados e acessórios premium com US $ 734 milhões em receita (ano fiscal de 2023)

Designs de produtos modernos e elegantes

No ano fiscal de 2023, a tapeçaria investiu US $ 172 milhões em design e desenvolvimento de produtos para manter ofertas competitivas de produtos.

Experiências personalizadas do cliente

Métrica de engajamento digital	Valor
Penetração de vendas digital	32% da receita total
Usuários de aplicativos móveis	Mais de 2,5 milhões de usuários ativos
Membros do programa de fidelidade	Aproximadamente 15 milhões de membros

Posicionamento de luxo acessível

Os preços médios entre as marcas variam de US $ 150 a US $ 1.500, posicionando produtos como itens de luxo atingíveis.

• Preço médio de bolsas do treinador: $ 450
• Kate Spade Média da bolsa Preço: $ 250
• Stuart Weitzman Sapato médio Preço: $ 600

Tapestry, Inc. (TPR) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento do programa de fidelidade

A tapeçaria opera programas de fidelidade em suas marcas:

Marca	Membros do programa de fidelidade	Gasto anual por membro
Treinador	22,5 milhões de membros	US $ 425 por ano
Kate Spade	12,3 milhões de membros	US $ 285 por ano
Stuart Weitzman	5,7 milhões de membros	US $ 210 por ano

Experiências digitais e na loja personalizadas

Métricas de personalização digital:

• A personalização online impulsiona 18,5% da receita total
• Taxa de envolvimento de aplicativos móveis: 42% dos membros de fidelidade
• Taxa de conversão de recomendações personalizadas: 7,3%

Interação da mídia social e construção comunitária

Plataforma	Seguidores	Taxa de engajamento
Instagram	8,6 milhões	3.2%
Facebook	6,4 milhões	2.7%
Tiktok	2,1 milhões	4.5%

Atendimento ao cliente e suporte

Métricas de desempenho de suporte ao cliente:

• Tempo médio de resposta: 2,4 horas
• Pontuação de satisfação do cliente: 87%
• Canais de suporte omnichannel: 5 plataformas
• Investimento anual de atendimento ao cliente: US $ 42,3 milhões

Comunicações de marketing direcionadas

Canal de marketing	Gasto anual	Taxa de conversão
Marketing por e -mail	US $ 18,7 milhões	4.6%
Publicidade digital	US $ 35,2 milhões	3.9%
Redirecionamento personalizado	US $ 12,5 milhões	5.7%

Tapestry, Inc. (TPR) - Modelo de Negócios: Canais

Lojas de varejo (pertencentes e operadas)

A partir de 2024, a tapeçaria opera 1.473 lojas de varejo globalmente em várias marcas:

Marca	Número de lojas
Treinador	892
Kate Spade	416
Stuart Weitzman	165

Lojas de departamento por atacado

A tapeçaria distribui produtos através de mais de 2.500 parceiros atacadistas, incluindo:

• Macy's
• Nordstrom
• Bloomingdale's
• Neiman Marcus

Sites de comércio eletrônico

Os canais digitais diretos ao consumidor incluem:

• Coach.com - gerou US $ 785 milhões em vendas on -line
• Katespade.com - gerou US $ 412 milhões em vendas on -line
• Stuartweitzman.com - gerou US $ 213 milhões em vendas online

Mercados digitais

Plataforma	Vendas anuais
Amazon	US $ 340 milhões
TMall (China)	US $ 276 milhões
Zalando	US $ 128 milhões

Aplicativos de compras móveis

Métricas de desempenho do aplicativo móvel:

• Aplicativo de treinador: 4,7 milhões de usuários mensais ativos
• Kate Spade App: 2,3 milhões de usuários mensais ativos
• Receita total de comércio móvel: US $ 612 milhões

Tapestry, Inc. (TPR) - Modelo de negócios: segmentos de clientes

Consumidores Millennial e Gen Z-Fashion

A partir de 2023, as marcas da tapeçaria têm como objetivo 18-40 demográfico da idade com características específicas de compra:

Faixa etária	Gastos anuais	Porcentagem do mercado -alvo
Millennials (25-40)	$ 1.200 - US $ 2.500 por ano	42%
Gen Z (18-24)	$ 800 - US $ 1.500 por ano	28%

Mulheres profissionais que buscam acessórios de luxo

Demografia de mulheres profissionais direcionadas:

• Renda familiar média: US $ 125.000 - US $ 250.000
• Setores de emprego: corporativo, finanças, tecnologia
• Faixa etária: 28-45 anos

Profissionais urbanos de renda média a superior

Características do segmento de consumidor urbano:

Foco geográfico	Renda média anual	Gastos com acessórios de luxo
20 principais áreas metropolitanas	$150,000 - $300,000	$ 3.500 - US $ 7.000 anualmente

Consumidores internacionais de mercado de luxo

Redução do segmento de mercado global:

• China: 35% da base internacional de consumo de luxo
• Europa: 25% da base internacional de consumo de luxo
• Oriente Médio: 15% da base internacional de consumo de luxo
• Japão: 12% da base internacional de consumo de luxo

Compradores de moda online e offline

Distribuição de canais de compra:

Canal	Porcentagem de vendas	Valor médio da transação
Varejo online	38%	$450
Lojas de varejo físico	62%	$620

Tapestry, Inc. (TPR) - Modelo de negócios: estrutura de custos

Fabricação e fornecimento de produtos

Para o ano fiscal de 2023, o custo de bens da tapeçaria vendido (CAGS) foi de US $ 2,14 bilhões. Despesas de fabricação incluídas:

Categoria	Custo anual
Aquisição de matéria -prima	US $ 752 milhões
Trabalho de produção	US $ 413 milhões
Manufatura de sobrecarga	US $ 275 milhões

Operações e manutenção de lojas de varejo

As despesas relacionadas ao varejo para 2023 totalizaram US $ 987 milhões, incluindo:

• Despesas de aluguel e aluguel da loja de varejo: US $ 412 milhões
• Manutenção e utilitários da loja: US $ 215 milhões
• Equipamentos e acessórios de loja: US $ 136 milhões

Despesas de marketing e publicidade

As despesas totais de marketing no fiscal de 2023 foram de US $ 345 milhões, divididas da seguinte forma:

Canal de marketing	Gastar
Publicidade digital	US $ 128 milhões
Mídia tradicional	US $ 87 milhões
Parcerias de influenciadores	US $ 64 milhões

Desenvolvimento da plataforma digital

Investimentos de tecnologia e infraestrutura digital para 2023:

• Desenvolvimento da plataforma de comércio eletrônico: US $ 42 milhões
• Infraestrutura de TI: US $ 36 milhões
• Investimentos de segurança cibernética: US $ 22 milhões

Salários e benefícios dos funcionários

Total de despesas relacionadas ao pessoal para o ano fiscal de 2023:

Categoria	Quantia
Salários da base	US $ 621 milhões
Benefícios de saúde	US $ 89 milhões
Contribuições de aposentadoria	US $ 47 milhões
Remuneração baseada em ações	US $ 38 milhões

Tapestry, Inc. (TPR) - Modelo de negócios: fluxos de receita

Vendas diretas no varejo

Para o ano fiscal de 2023, a tapeçaria registrou vendas líquidas totais de US $ 7,16 bilhões. O detalhamento direto de vendas no varejo inclui:

Marca	Receita de vendas direta
Treinador	US $ 4,28 bilhões
Kate Spade	US $ 1,62 bilhão
Stuart Weitzman	US $ 1,26 bilhão

Distribuição por atacado

A receita de atacado para o ano fiscal de 2023 representou aproximadamente 35% do total de vendas líquidas, o que é igual a aproximadamente US $ 2,51 bilhões.

• Treinador atacado: US $ 1,49 bilhão
• Kate Spade por atacado: US $ 0,72 bilhão
• Stuart Weitzman por atacado: US $ 0,30 bilhão

Receita da plataforma de comércio eletrônico

As vendas de canais digitais representaram 26% do total de vendas líquidas no ano fiscal de 2023, totalizando US $ 1,86 bilhão.

Canal	Receita de comércio eletrônico
Sites direta ao consumidor	US $ 1,43 bilhão
Plataformas digitais de terceiros	US $ 0,43 bilhão

Vendas do mercado internacional

As vendas internacionais no ano fiscal de 2023 totalizaram US $ 2,86 bilhões, representando 40% do total de vendas líquidas.

• Região da Ásia -Pacífico: US $ 1,29 bilhão
• Europa: US $ 0,86 bilhão
• Outros mercados internacionais: US $ 0,71 bilhão

Licenciamento e receita de parceria de marca

As receitas de licenciamento para o ano fiscal de 2023 foram de US $ 56,4 milhões.

Parceiro de licenciamento	Contribuição da receita
LICENCIAMENTO DE EYEWARE	US $ 23,7 milhões
Parcerias de fragrâncias	US $ 18,9 milhões
Acessórios Licenciamento	US $ 13,8 milhões

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.