NEW YORK--(BUSINESS WIRE)--Apr. 22, 2019--
Tapestry, Inc. (NYSE:TPR), a leading New York-based house of modern
luxury accessories and lifestyle brands, announces the release of new
2025 corporate responsibility goals. These targets, published today in
its 2018 Corporate Responsibility Report, coincide with the
launch of Our Social Fabric, a microsite solely devoted to
Tapestry’s sustainability and social governance program.
This press release features multimedia. View the full release here:
The High Line, the historic public park built on a freight rail line above the streets on Manhattan’s West Side, is also home to Tapestry’s global headquarters. (Photo: Getty Images)
Victor Luis, Chief Executive Officer of Tapestry, Inc., said, “We are
proud to launch our 2025 corporate responsibility strategy and goals on
Earth Day. Built on our values of Optimism, Innovation and Inclusivity,
these goals solidify our commitment to social responsibility, as we
recognize our role as a leader in our industry to effect real,
measurable change. Addressing pressing global issues, and contributing
to a world that is inclusive, sustainable and safe, is a responsibility
that we all share.”
Tapestry’s ambitious plan to drive continued progress is focused across
the company’s three responsibility pillars: Our People, Our Planet and
2025 Corporate Responsibility Goals
Our People: Having individuals from different backgrounds and
with different experiences around the table creates a diversity of
perspectives that enrich our organization.
Build diversity in North America Tapestry and brand leadership teams
by increasing the number of North America-based ethnic minority
leaders to better reflect the company’s general corporate population.
Reduce gender and ethnicity differences in the Employee Inclusion
Index scores from our Employee Engagement Survey.
Demonstrate a focus on career progression, development and mobility by
filling 60% of leadership roles (VP+) internally.
Enable employees to manage both their work and personal life balance
by achieving a global core benefit standard for self-care, parental
and family care leave policies.
Our Planet: Tapestry is dedicated to reducing its
environmental impact across the world through continuous innovation.
Achieve a 20% reduction in absolute Scope 1 and Scope 2 CO2e
emissions; and 20% reduction in absolute Scope 3 emissions from
freight shipping over a 2017 baseline.
Attain a 95% traceability and mapping of raw materials to ensure a
transparent and responsible supply chain.
Ensure that 90% of leather is sourced from Silver- and Gold-rated Leather
Working Group tanneries.
Achieve 75% recycled content in packaging and 25% reduction in North
America corporate and distribution center waste.
Achieve a 10% reduction in water usage across Tapestry and its supply
Our Communities: Tapestry engages closely with the communities
in which our employees live and work, helping to enrich and strengthen
Dedicate 100,000 volunteer service hours by Tapestry employees around
Give $75,000,000 in financial and product donations to nonprofit
Provide 50,000 people crafting Coach, kate spade new york and Stuart
Weitzman products access to empowerment programs during the workday.
This launch builds upon the significant progress Tapestry has made since
the inception of its corporate responsibility program in 2013. Notable
2018 highlights include:
Signed the UN Global Compact, reaffirming Tapestry’s
recognition of corporate responsibility as a key component of a
sustainable business model.
Achieved a score of 100 for the fifth consecutive year on the Human
Rights Campaign Corporate Equality Index, earning the
designation as a Best Place to Work for LGBTQ Equality;
Placed on the Forbes “Best Employers for Diversity” 2019 list;
Signed the CEO Action for Diversity and Inclusion pledge.
Mr. Luis concluded, “At Tapestry, we are tremendously passionate about
corporate responsibility. It influences everything that we do. And
perhaps most importantly, it is the right thing to do. We recognize that
this ambitious strategy will require us to push our boundaries, and
we’re ready for the challenge. At Tapestry, we believe that enacting
change is done better, together.”
For more information on Tapestry’s corporate responsibility program,
including the 2018 Corporate Responsibility Report, please
visit Our Social Fabric at www.tapestry.com/responsibility.
Tapestry, Inc. is a New York-based house of modern luxury lifestyle
brands. The Company’s portfolio includes Coach, kate spade new york and
Stuart Weitzman. Our Company and our brands are founded upon a creative
and consumer-led view of luxury that stands for inclusivity and
approachability. Each of our brands are unique and independent, while
sharing a commitment to innovation and authenticity defined by
distinctive products and differentiated customer experiences across
channels and geographies. To learn more about Tapestry, please visit www.tapestry.com.
The Company’s common stock is traded on the New York Stock Exchange
under the symbol TPR.
This information to be made available in this press release may
contain forward-looking statements based on management's current
expectations. Forward-looking statements include, but are not limited
to, statements under “2025 Corporate Responsibility Goals,” as well as
statements that can be identified by the use of forward-looking
terminology such as "may," "will," “can,” "should," "expect," "intend,"
"estimate," "continue," "project," "guidance," "forecast," “outlook,”
"anticipate," “moving,” “leveraging,” “capitalizing,” “developing,”
“drive,” “targeting,” “assume,” “plan,” “build,” “pursue,” “maintain,”
“on track,” “well positioned to,” “look forward to,” “to acquire,”
“achieve,” “strategic vision,” “growth opportunities” or comparable
terms. Future results may differ materially from management's current
expectations, based upon a number of important factors, including risks
and uncertainties such as expected economic trends, the ability to
anticipate consumer preferences, the ability to control costs and
successfully execute our transformation and operational efficiency
initiatives and growth strategies and our ability to achieve intended
benefits, cost savings and synergies from acquisitions, the impact of
tax legislation, etc. Please refer to the Company’s latest Annual Report
on Form 10-K and its other filings with the Securities and Exchange
Commission for a complete list of risks and important factors. The
Company assumes no obligation to revise or update any such
forward-looking statements for any reason, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190422005308/en/
Source: Tapestry, Inc.
Analysts & Media:
Andrea Shaw Resnick
Chief Financial Officer
Global Head of Investor Relations and
President, Investor Relations