Tapestry : Corporate Responsibility Report 2020

Corporate Responsibility Report

FY2020

Photo courtesy of Friends of the High Line

TABLE OF CONTENTS
OUR REPORT	3
CEO Letter...................................................................	4
About Tapestry.........................................................	5
Award Highlights.....................................................	8
Goals..............................................................................	9
OUR PEOPLE	13
Equity, Inclusion and Diversity.........................	14
Learning and Development...............................	17
Employee Benefits..................................................	18
OUR PL ANET	19
Climate Change........................................................	20
Water..............................................................................	22
Supply Chain..............................................................	23
Waste.............................................................................	24
OUR COMMUNITIES	25
COVID-19 Response...............................................	27
Racial and Social Justice....................................	28
Community Impact.................................................	29
Employee Engagement........................................	31
Product Donations.................................................	32
Safety and Human Rights..................................	33
FR AMEWORKS	35
GRI...................................................................................	36
Sustainability Accounting
Standards Board (SASB).....................................	51
Task Force on Climate-Related
Financial Disclosures (TCFD)...........................	53

Summary Report Responsibility Corporate Tapestry 2020

Our Report

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Report Responsibility Corporate Tapestry FY2020

Our Report

Our People

Our Planet

Our Communities

Frameworks

CEO LETTER

FY2020

Joanne Crevoiserat

Tapestry, Inc. Chief Executive Officer

Our Social Fabric is Tapestry's corporate responsibility framework that unites teams across our business to meet common goals and a shared objective: to create the modern luxury company of the future that balances true fashion authority with meaningful, positive change.

We have lived through a year like no other. Communities around the world have faced and continue to confront extraordinary challenges. Since Tapestry's last Corporate Responsibility report, we have experienced the events of the COVID-19 pandemic and the long overdue awareness and actions on social and racial justice and equity. These challenges have only reinforced the importance of sustainability and responsibility as both business and moral

imperatives. At Tapestry, we were able to quickly shift our resources and priorities to support our communities and address some of their most pressing needs.

Our commitment to the pillars of Our Social Fabric

• Our People, Our Planet and Our Communities
• has never been stronger. In the face of an unprecedented year, we broadened the scope of our actions to continue to shape the world to become more inclusive, sustainable and safe.

I am incredibly proud of our global Tapestry team who have demonstrated unwavering passion, agility and resilience during this time. The events of the last year have been a critical inflection point in our journey. It is in times like this when actions matter most. I am pleased we prioritized support of communities affected by the pandemic

by committing $10.5 million in financial support through our Foundations and product donations

through our brands to COVID-19 relief efforts globally. Equally important are the efforts of our Tapestry employees, who collectively donated more than $350,000 through our employee matching gift program, including over $120,000 to 55 organizations addressing social and racial justice and equity, such as the NAACP Legal Defense Fund, the Equal Justice Initiative and Black Lives Matter.

Tapestry's transformation to become a more resilient company and integrate corporate responsibility into all that we do is well underway. The pandemic has given us an imperative to accelerate our transformation and further strengthen our business and commitments. It forced us to be bold and made clear that we

had much more work to do, so in FY2020 we broadened efforts and accelerated our long-term commitments. To help preserve our planet, we continue to reduce our environmental impacts, cutting down greenhouse gas emissions and focusing on water and waste while scaling responsible sourcing and environmentally preferred materials. We are also giving back to our communities, raising our targets on philanthropy and volunteering in all the places we call home, at a time when so much is still desperately needed.

I believe that unlocking the power of purpose leads to unlocking the power of people. At Tapestry, our teams have remained dedicated to our purpose

and values, and have maintained an optimism and enthusiasm for our brands that has kept the

organization energized. With our company and purpose aligned, we can move even faster in the

years to come. I am incredibly proud of what our teams around the world have accomplished in this environment.

We remain steadfast in our commitment to building our business for the future, balancing true fashion authority with meaningful, positive change. In further strengthening our resolve, we will be unveiling new, Bold Commitments in the months ahead so that we can accelerate the work that we are doing.

I invite you to explore our efforts in this FY2020 Our Social Fabric Report.

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ABOUT TAPESTRY

Tapestry is a global house of modern luxury lifestyle brands powered by optimism, innovation, and inclusivity. True luxury is a freedom of expression that ignites confidence and authenticity.

Our house of brands includes Coach, kate spade new york and Stuart Weitzman. Tapestry's common stock is traded on the New York Stock Exchange under the symbol TPR. We operate in over 70 countries, with 17,562 employees across Tapestry, Coach, kate spade new york and Stuart Weitzman,

generating $5B in annual revenues in FY2020.

"

At Tapestry, we believe that anyone from anywhere can have the best idea, and with hard work and dedication, anything is possible.

"

OUR SOCIAL FABRIC STRATEGY AND GOVERNANCE

Our Social Fabric, Tapestry's corporate responsibility framework, unites teams across our business to meet common goals and a shared objective: to create the modern luxury company of the future that balances true fashion authority with

meaningful, positive change. Our Social Fabric is focused on three pillars: Our People, Our Planet and Our Communities.

Our corporate responsibility strategy, including oversight, management and identification of risks, is ultimately governed by our Board of Directors and driven by our Environmental, Social and Corporate Governance (ESG) Task Force, which is comprised of senior leaders and cross-functional members from major business functions. The Board approves long-term sustainability goals, strategic moves or major plans of action and receives updates at least annually. Starting during FY2021, the Governance and Nominations Committee of the Board will

receive quarterly updates on sustainability strategy.

ABOUT OUR SOCIAL FABRIC REPORT

This is our eighth annual Corporate Responsibility Report, which provides highlights, updates and performance data for FY2020, from June 30, 2019 to June 27, 2020. The report highlights our corporate responsibility efforts and focuses on the ESG issues of greatest importance to our stakeholders. The structure of this report and disclosures align

with leading sustainability reporting frameworks,

including the Global Reporting Initiative (GRI). We are also utilizing the Task Force on Climate-related Financial Disclosures (TCFD) and the Sustainability Accounting Standards Board (SASB) frameworks for the first time.

Our determination of relevant topics is influenced by ongoing engagement with our stakeholders. In FY2021, we will be conducting an updated materiality assessment, which will be used to inform our FY2021 Corporate Responsibility Report.

For more information on our corporate responsibility program, Our Social Fabric, a section of the Tapestry website houses news announcements and program highlights, as well as comprehensive information pertaining to our overall strategy. You can access this website at www.tapestry.com/responsibility.

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Report Responsibility Corporate Tapestry FY2020

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Our People

Our Planet

Our Communities

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