Tapestry, Inc. Announces Comprehensive 2025 Corporate Responsibility Goals
22 Abril 2019 - 6:15AM
Business Wire
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:
https://www.businesswire.com/news/home/20190422005308/en/
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 Our Communities.
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 chain.
Our Communities: Tapestry engages closely with the
communities in which our employees live and work, helping to enrich
and strengthen them.
- Dedicate 100,000 volunteer service
hours by Tapestry employees around the globe.
- Give $75,000,000 in financial and
product donations to nonprofit organizations globally.
- 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190422005308/en/
Tapestry, Inc.Analysts & Media:Andrea Shaw ResnickInterim
Chief Financial OfficerGlobal Head of Investor Relations and
Corporate Communications212/629-2618Christina ColoneVice President,
Investor Relations212/946-7252Aimée LeabonDirector, Corporate
Communications212/615-2040
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