Tapestry Inc
- Industry
- Retail
- Exchange
- US
- Country
- USA
- IPO date
- Oct 5, 2000
- Employees
- 12,500
- Website
- www.tapestry.com
Composite valuation range · conservative $95–$110 / fair $125–$150 / optimistic $170–$200. At $147.43, Within the fair intrinsic-value range.
At publication $139.01 (May 28, 2026)
Data from EODHD, shown in the reporting currency; for reference only, not investment advice.
Tapestry, Inc. provides accessories and lifestyle brand products in North America, Greater China, rest of Asia, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags, fashion designs, business cases, computer bags, messenger style bags, backpacks, travel bags, and totes; and accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories, including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, technology accessories, gifting, straps, and charms. The company also provides women's and men's footwear, which casual and dress shoes, boots, sneakers, and sandals; and other products which includes outerwear, ready-to-wear, jewelry, watches, eyewear, fragrance, scarves, hats, gloves, and other products. It offers its products through retail and outlet stores, brand e-commerce sites, and concession shop-in-shops under the Coach, Kate Spade, and Stuart Weitzman brand names. The company was formerly known as Coach, Inc. and changed its name to Tapestry, Inc. in October 2017. Tapestry, Inc. was founded in 1941 and is headquartered in New York, New York.
History
Tapestry, Inc. was founded in 1941 and is headquartered in New York, New York, and traces its public history to its IPO on October 5, 2000. The company was formerly known as Coach, Inc. and changed its name to Tapestry, Inc. in October 2017 as it built out a house-of-brands model. In FY2025 it still reported three segments: Coach, Kate Spade, and Stuart Weitzman, which contributed 79.9%, 17.1%, and 3.0% of group sales respectively; Stuart Weitzman was divested for $109.1 million in August 2025, leaving FY2026 effectively a two-brand Coach and Kate Spade structure. After regulatory opposition led by the FTC, management terminated the planned acquisition of Capri and pivoted toward large share repurchases. Revenue moved from $5.746 billion in FY2021 to $6.685 billion in FY2022, $6.661 billion in FY2023 and $7.011 billion in FY2025, with full-year FY2026 guidance of about $7.95 billion, while the diluted weighted share count fell from roughly 283 million in FY2021 toward FY2026 guidance of about 210 million. Store count was 1,371 at the end of FY2025, down from 1,429 in FY2023, and the company employed about 12,500 people.
Industry position
Tapestry operates in the consumer-cyclical luxury-goods space, positioned within the "accessible luxury" segment rather than the very top tier. In the FTC's suit to block Tapestry's acquisition of Capri, the handbag market occupied by Coach, Kate Spade, and Michael Kors was treated as a closely competing field, and the court upheld that market definition. Its main competitors include Ralph Lauren, Michael Kors (under Capri), high-end apparel brands under PVH, and broader European luxury and emerging designer brands. The United States remains the anchor market, with FY2025 net sales by customer location of about $4.21 billion in the US, $1.06 billion in Greater China, $515 million in Japan, and $1.23 billion in other regions. Its competitive position rests on brand, channel control, and data-driven direct-to-consumer operations: DTC accounted for about 86% of FY2025 sales versus roughly 13% wholesale and 1% licensing, and no single customer represented more than 10% of any segment's sales at FY2025 year-end. Strength is uneven across the portfolio: in FY2026 Q3 Coach revenue grew 31% (North America +20%, Greater China +61%, Europe +31%), with over 2.4 million new global customers of whom more than 35% were Gen Z, handbag units up over 20% and average unit retail up low double digits, whereas Kate Spade recorded $244.1 million of goodwill impairment and $610.7 million of brand intangible impairment in FY2025.