Formerly | Coach, Inc. (2000–2017) |
---|---|
Company type | Public |
Industry | |
Predecessor | Coach Leatherware Company |
Founded | June 1, 2000 |
Headquarters | 10 Hudson Yards New York City, US |
Key people | Joanne Crevoiserat (CEO) [1] Scott Roe (CFO) [2] |
Brands | |
Revenue | US$6.67 billion (2024) |
US$1.14 billion (2024) | |
US$816 million (2024) | |
Total assets | US$13.4 billion (2024) |
Total equity | US$2.90 billion (2024) |
Number of employees | 18,600 (2024) |
Website | tapestry |
Footnotes /references Financials as of June 30,2024 [update] . [3] |
Tapestry, Inc. is an American multinational fashion holding company. It is based in New York City and is the parent company of three major brands: Coach New York, Kate Spade New York and Stuart Weitzman. Originally named Coach, Inc., the business changed its name to Tapestry on October 31, 2017. [4]
Coach was founded in 1941. Starting as a workshop, it grew into a company with over 17,000 employees. [4] Seeking wider recognition and a larger market, the company acquired brands such as Kate Spade and Stuart Weitzman. This broadened the appeal to consumers of all three brands. The company changed names, reducing the share price because investors felt that the name change was not well received by customers. The share price later recovered. [5]
American fashion designer Kate Spade founded Kate Spade New York in 1993. It was initially similar to the Coach company. The company was purchased by Coach in 2017 in a $2.4 billion deal.
Stuart Weitzman (born 1941) began working in the early 1960s for Seymour Shoes, [6] a company set up by his father Seymour Weitzman and his older brother Warren in Haverhill, Massachusetts in the late 1950s.
After the company was taken over by a Spanish company in 1971, it was bought by Stuart Weitzman in 1994. Over the years, and following a series of takeovers, the company has grown considerably to become one of the Tapestry group's luxury brands.
The brand was purchased by Coach in 2015 for $574 million. It was made to broaden Coach's product line. [7]
The business originally named Coach changed its name to Tapestry to better represent its broader product range when it expanded beyond Coach-brand handbags. [7] The company officially changed its name and ticker symbol on the New York Stock Exchange from COH to TPR on October 31, 2017. [8] Most of these products are accessories, such as handbags, key-chains, shoes and other small fashion items. Most of these items are leather goods and are produced by the individual subsidiaries. [5]
In late July, 2020, the company named Joanne Crevoiserat, Tapestry's CFO since early 2019, the new CEO. She became the 36th female to lead a Fortune 500 company. [9]
Tapestry announced it would acquire Capri Holdings in August 2023 for $8.5 billion. [10] Capri owns the brands Versace, Michael Kors, and Jimmy Choo. [11] The U.S. Federal Trade Commission sued to block the acquisition in April 2024 citing reduced competition between their brands, like Coach and Michael Kors, in the affordable luxury handbag market. It was also concerned that the deal would negatively impact hiring of workers and their wages. [12] The merger was blocked on 24 October 2024. [13] Tapestry and Capri have committed to appealing the decision. [13]
Victor Luis began working with the company as the CEO of the Japanese subsidiary. He then worked in China. He rose to serve as Tapestry's International CEO, and then CEO of Tapestry, Inc. [14] In September 2019, Tapestry Inc. replaced Luis as CEO, announcing he would leave immediately and be succeeded by board Chairman Jide Zeitlin, a former Goldman Sachs executive who has been on the board since 2006. [15] Jide J. Zeitlin was appointed chief executive officer (CEO) of Tapestry in September 2019. In this role, Jide was responsible for the execution of the company's strategic agenda and financial performance. Mr. Zeitlin was elected to Tapestry's board of directors in June 2006 and served as the chairman of the board from November 2014 [16] until his resignation in July 2020 after accusations of personal misconduct. [17] Tapestry announced in April 2021 that VF Corp. executive Scott Roe would be succeeding Andrea Shaw Resnick as CFO. [18] [19] [20]
In July 2020, Tapestry CEO Jide Zeitlin resigned from his positions as CEO and chairman amidst an investigation into his personal behavior. Previously, a woman had accused him of luring her into a romantic relationship in 2007 by pretending to be a photographer. [21]
Fossil Group, Inc., is an American fashion designer and manufacturer founded in 1984 by Tom Kartsotis and based in Richardson, Texas. Their brands include Fossil, Relic, Michele Watch, Skagen Denmark, Misfit, WSI, and Zodiac Watches. Fossil also makes licensed accessories for brands such as BMW, Puma, Emporio Armani, Michael Kors, DKNY, Diesel, Kate Spade New York, Tory Burch, Chaps, and Armani Exchange.
Gianni Versace S.r.l., usually referred to as Versace, is an Italian luxury fashion company founded by Gianni Versace in 1978. The company produces Italian-made ready-to-wear and accessories, as well as haute couture under its Atelier Versace brand and licenses its name and branding to Luxottica for eyewear. Gianni Versace being a native of Calabria, in the ancient Magna Grecia, the company logo is inspired by Medusa, a figure from Greek mythology.
Coach may refer to:
Katherine Noel Valentine Brosnahan Spade was an American fashion designer and entrepreneur. She was the co-founder and co-owner of the designer brand Kate Spade New York.
Michael David Kors is an American fashion designer. He is the chief creative officer of his brand, Michael Kors, which sells men's and women's ready-to-wear, accessories, watches, jewelry, footwear, and fragrance. Kors was the first women's ready-to-wear designer for the French house Celine, from 1997 to 2003. On January 2, 2019, Michael Kors Holdings Limited officially changed its name to Capri Holdings Limited. Michael Kors, Jimmy Choo, and Versace are the three founder-led brands under Capri Holdings Limited.
Stuart A. Weitzman is an American shoe designer, philatelist, and founder of the shoe company Stuart Weitzman. Weitzman has designed footwear for Beyoncé and Taylor Swift.
Kate Spade & Company, initially known as Liz Claiborne Inc., and then as Fifth & Pacific Companies, Inc., is a fashion company that designs and markets a range of women's and men's apparel, accessories and fragrance products under the Kate Spade New York and Jack Spade labels. The company is owned by Tapestry, Inc.
Nine West Holdings is an American designer, marketer and wholesaler of branded clothing, shoes and accessories. In 2019, the company restructured under the new name Premier Brands Group Holdings Llc.
The term designer label refers to clothing, luxury automobile manufacturers and other personal accessory items sold under an often prestigious marque which is commonly named after a designer, founder, or a location-like where the company was founded. The term is most often applied to luxury goods. While members of the upper middle class, or the mass affluent, are perhaps the most commonly targeted customers of these designer labels, some marquees—such as Cartier, Rolex, Montblanc and the haute couture — tend to a wealthier customer base. But almost every designer brand has merchandise that the middle-class wouldn't normally be able to afford, such as exotic skins, furs and hides, limited edition pieces, or things simply priced higher. Designer label companies use their smaller and cheaper merchandise, aimed at the middle class, such as wallets, fashion jewellery, key-rings and small accessories, to make the majority of their income, whilst the more expensive pieces such as haute couture, high jewellery, hand-bags, shoes and even furnishings are usually reserved for the wealthier upper-class clientele.
Longchamp is a French leather goods company, founded in Paris in 1948 by Jean Cassegrain. The company pioneered luxury leather-covered pipes before expanding into small leather goods. Longchamp debuted women's handbags in 1971, becoming one of France's leading leather goods makers. Today, the company designs and manufactures leather and canvas handbags, luggage, shoes, travel items, fashion accessories, and women's ready-to-wear. The house is privately owned and managed by the Cassegrain founding family and does business in 80 countries through around 1,500 retail outlets.
A diaper bag or nappy bag is a storage bag with many pocket-like spaces that is big enough to carry everything needed by someone taking care of a baby while taking a typical short outing.
Versus (Versace) was a diffusion line of the Italian luxury fashion house Versace. It was founded in 1989 by Gianni Versace as a gift to his sister Donatella. The line was discontinued in 2005 but was relaunched by Donatella in 2009 with a capsule collection of accessories designed by British designer Christopher Kane.
Kate Spade New York is an American fashion house founded in January 1993 by Kate and Andy Spade. In 2017, the company was purchased by Tapestry, Inc., formerly known as Coach, Inc.
Capri Holdings Limited is a multinational fashion holding company, incorporated in the British Virgin Islands, with executive offices in London and operational offices in New York. It was founded in 1981 by American designer Michael Kors. The company sells clothes, shoes, watches, handbags, and other accessories. In 2015, the company had more than 550 stores and over 1,500 in-store boutiques in various countries.
Dee Ocleppo Hilfiger is an American fashion designer and entrepreneur. She was married from 1997 to 2003 to Gianni Ocleppo, with whom she had two children, including Julian Ocleppo. Since 2008, she has been married to fashion designer Tommy Hilfiger.
Coach New York, commonly known as Coach, is an American luxury fashion house headquartered in New York City & specialized in handbags, luggage, and accessories, as well as ready-to-wear. Coach licenses its name and branding to Luxottica for eyewear and Paris-based Interparfums for fragrances. Stuart Vevers has been the executive creative director since June of 2013.
Roberto Cavalli S.p.A. is an Italian luxury fashion company founded by the designer Roberto Cavalli in Osmannoro, Florence, during the 1970s. Known for animal prints on leather and textiles, the label manufactures and markets haute couture, ready-to-wear, and accessories, including handbags, eye wear, watches, shoes, perfumes and jewelry. The company is also involved in interior design projects for high-end buildings and hotels.
Kenny Park, also known as Park Eun-kwan, is a South Korean businessman. He is the founder and CEO of Simone Accessory, a handbag and accessories manufacturer.
Rebag is a New York-based retail platform, established in 2014, that operates both online and through brick-and-mortar stores. It specializes in the buying, trading, and selling of luxury handbags, accessories, watches, fine jewelry, shoes, and select apparel.