Tapestry Releases 2020 Corporate Responsibility Report

Tapestry, Inc., a leading New York-based house of modern luxury accessories and lifestyle brands, today released its 2020 Corporate Responsibility Report, which highlights social and environmental progress made in the 2020 fiscal year, ending June 27, 2020. This marks the eighth year of reporting for Tapestry, and the first time the Company is reporting in line with the recommendations by the Task Force on Climate-Related Financial Disclosures (TCFD) and the Sustainable Accounting Standards Boards (SASB).

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“Our Social Fabric framework is focused on three pillars: our people, our planet and our communities. It unites teams across the 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. Today, our commitment and resolve to execute against these three pillars of Our Social Fabric has never been stronger,” said Joanne Crevoiserat, Chief Executive Officer of Tapestry, Inc. “In the face of unprecedented challenges over the year, we broadened the scope of our actions and built upon our commitments to shape the world to become more inclusive, sustainable and safe. I am incredibly proud of our global Tapestry teams who have demonstrated unwavering passion, agility and resilience.”

The 2020 Corporate Responsibility Report details the meaningful progress made in fiscal year 2020 towards Tapestry’s goals in key areas such as equity, inclusion & diversity; supply chain traceability; greenhouse gas emissions; and supporting communities around the world. Fiscal year 2020 highlights include:

Our People

• Launched Inclusion Council with the goal of increasing the participation of people with diverse perspectives from a variety of levels in business decisions
• Completed eLearning inclusion training by 92% of store managers, 97% of leadership and 96% of U.S. corporate employees
• Recognized on the Forbes 2020 Best Employers for Diversity List for the third consecutive year
• Achieved sixth consecutive score of 100 on the Human Rights Campaign Corporate Equality Index

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Our Planet

• Initiated supply chain mapping and began working towards achieving 95% traceability and mapping of its raw materials
• Achieved 87% landfill diversion rate for corporate and distribution center locations
• Increased the amount of leather that comes from Silver- or Gold-rated Leather Working Group tanneries to 67%

Our Communities

• Committed to more than $28 million in charitable giving (Foundation, corporate and brand product) from Tapestry, its brands and the Coach Foundation and the kate spade new york foundation, including:
  • $10.5 million in financial support and product donations to COVID-19 relief efforts globally
  • $350,000 in matching charitable gifts by Company Foundations to more than 400 nonprofit organizations that Tapestry employees support ($3,674,000 since the program’s inception in 2010)
• Supported 55 organizations addressing racial and social justice issues through the Company’s 2:1 employee charitable matching gifts program
• More than 4,400 volunteer service hours completed by global employees

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