Ahead of the G7 Summit in Biarritz, 32 global fashion and textile companies will collectively focus on environmental challenges and improving industry practices
NEW YORK--(BUSINESS WIRE)--Aug. 23, 2019--
Tapestry, Inc. (NYSE: TPR), a global house of modern luxury accessories and lifestyle brands, today announced it is signing the Fashion Pact, an industry commitment on climate, biodiversity and oceans to meet the pressing global environmental issues of this era. Established by French President Emmanuel Macron and François-Henri Pinault, Chairman and Chief Executive Officer of Kering, the Fashion Pact brings together leading players in fashion and textiles to set practical objectives for reducing the environmental impact of their industry.
Victor Luis, Chief Executive Officer of Tapestry, Inc., said, “Building on the launch of our 2025 corporate responsibility strategy and goals, we are proud to join this collective commitment towards a more sustainable future. At Tapestry, sustainability is part of our DNA – we believe in good corporate citizenship to benefit our customers, our employees, and the communities where we live, operate and make our products. Joining forces with our industry peers is critical to achieving meaningful environmental change, and we look forward to driving continued progress as a member of this coalition.”
The Fashion Pact’s objectives draw on the Science-Based Targets (SBT) initiative, which focuses on action in three essential areas:
- Stop global warming: by creating and deploying an action plan in order to keep global warming below a 1.5°C pathway between now and 2100;
- Restore biodiversity: by utilizing Science-Based Targets to restore natural ecosystems and protect species; and
- Protect the oceans: by implementing practical initiatives, such as gradually removing the usage of single-use plastics.
To date, the Fashion Pact coalition comprises (in alphabetical order):
Adidas, Bestseller, Burberry, Capri Holdings Limited, Carrefour, Chanel, Ermenegildo Zegna, Everybody & Everyone, Fashion3, Fung Group, Galeries Lafayette, GAP, Inc., Giorgio Armani, H&M Group, Hermès, Inditex, Karl Lagerfeld, Kering, La Redoute, MatchesFashion.com, Moncler, Nike, Nordstrom, Prada Group, Puma, PVH, Corp., Ralph Lauren, Ruyi, Salvatore Ferragamo, Selfridges Group, Stella McCartney, Tapestry, Inc.
On Earth Day 2019, Tapestry launched bold 2025 corporate responsibility goals, which align with the Fashion Pact’s key objectives. These commitments include reducing water usage, waste, and scope 1, 2 and 3 carbon emissions. View our 2018 Corporate Responsibility Report and other resources at www.tapestry.com/responsibility.
About Tapestry, Inc.
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, follow us at www.linkedin.com/company/tapestryinc or 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 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 ERP implementation and growth strategies and our ability to achieve intended benefits, cost savings and synergies from acquisitions, the risk of cybersecurity threats and privacy or data security breaches, and 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.
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Source: Tapestry, Inc.
Analysts & Media:
Andrea Shaw Resnick
Global Head of Investor Relations and Corporate Communications
Director, Corporate Communications