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Tapestry, Inc. : Signs UN Global Compact

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10/09/2018 | 06:46am EDT

Tapestry, Inc. (NYSE: TPR), a leading New York-based house of modern luxury accessories and lifestyle brands, today announced it has signed onto the UN Global Compact. Tapestry joins over 9,800 companies who are signatories to the UN Global Compact, recognizing its role as a business with the ability to address global issues within the luxury goods sector.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181009005166/en/

UN Global Compact CEO, Lise Kingo, and Tapestry, Inc. CEO, Victor Luis, at the UN Global Compact Hea ...

UN Global Compact CEO, Lise Kingo, and Tapestry, Inc. CEO, Victor Luis, at the UN Global Compact Headquarters in New York City. (Photo: Business Wire)

Victor Luis, Chief Executive Officer of Tapestry, Inc., said, “Our Company is built upon values of optimism, inclusivity and innovation. We want to leave the world in a better place for the next generation, and this sentiment influences everything that we do -- from product development to our philanthropic work. At Tapestry, we recognize that corporate responsibility is a key component of a sustainable business model. Our alignment with the UN Global Compact demonstrates our commitment to driving meaningful positive change -- not just for our Company, but for the greater global community.”

Tapestry’s participation in the UN Global Compact builds upon established Corporate Responsibility (CR) programs. In 2001, the first year as a public company, we published our Supplier Code of Conduct as well as a Social Auditing Program, both focusing on social and environmental compliance, solidifying the expectations we place upon our suppliers regarding fair working conditions, wages and safety. The Social Auditing Program for factory compliance set high standards within the luxury industry.

Tapestry instituted its formal Sustainability Program in 2013, and since then, the Company has expanded its reporting to external agencies, including the CDP Climate Change, Water and Forests surveys.

In 2015, Tapestry introduced its first set of Corporate Responsibility goals -- targets that focus on climate change, water, waste management and social issues, reporting progress annually.

For more information on Tapestry’s Corporate Responsibility program, please visit https://tapestry.gcs-web.com/sustainability-reports.

About the UN Global Compact

The UN Global Compact is a corporate sustainability initiative that aligns businesses, strategies and operations with ten principles on human rights, labour, environment and anti-corruption. It encourages participants to take actions to advance societal goals, such as the UN Sustainable Development Goals. Established in 2000, the UN Global Compact emphasizes collaboration and innovation between participants, the greater community and governments, and is present in over 160 countries and more than 80 local networks.

About Tapestry, Inc.

Tapestry, Inc. is a New York-based house of modern luxury lifestyle brands. The Company’s portfolio includes Coach, Kate Spade 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 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.

© Business Wire 2018
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Financials ($)
Sales 2019 6 049 M
EBIT 2019 965 M
Net income 2019 664 M
Debt 2019 158 M
Yield 2019 4,46%
P/E ratio 2019 13,41
P/E ratio 2020 10,56
EV / Sales 2019 1,48x
EV / Sales 2020 1,35x
Capitalization 8 777 M
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Average target price 43,5 $
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Victor Luís Chief Executive Officer & Director
Leonard Todd Kahn President, Secretary & Chief Legal Officer
Olajide James Zeitlin Chairman
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