Tapestry, Inc. (NYSE: TPR), a house of iconic accessories and
lifestyle brands consisting of Coach, Kate Spade and Stuart
Weitzman, announced today the opening of the company’s new
full-scale Fulfillment Center in North Las Vegas, Nevada
(NVFC).
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20231115528378/en/
Tapestry, Inc. opens its doors to the
company’s new fulfillment center in North Las Vegas. (Photo:
Business Wire)
The Fulfillment Center, which is expected to add more than 400
full-time jobs by 2029, leverages some of the latest advancements
in material handling equipment technology to enhance our
fulfillment operations. Expanding to better serve West Coast
customers, the North Las Vegas facility positions Tapestry for the
future, enabling the company to sustain multi-brand fulfillment,
meeting the needs of customers in a more sustainable and efficient
manner. Most notably, the facility is expected to distribute an
annual 22.2 million units and hold 4 million units in inventory for
both retail and eCommerce.
“The opening of our newest full-scale fulfillment center here in
North Las Vegas will equip us to continue stretching what’s
possible for our brands, our people, and our customers,” said
Joanne Crevoiserat, CEO of Tapestry, Inc. "Moving at the speed of
the consumer is an essential component of our business. With
cutting-edge technology, this fulfillment center strengthens our
omni-channel capabilities and helps us better serve West Coast
customers. The center also creates new opportunities for team
members, deepens our relationship with the local community, and
reflects our ongoing commitment to environmental responsibility.
I’m so proud to celebrate the opening of this impressive facility
and appreciate the work of our team and partners in bringing this
vision to life.”
At the ribbon-cutting event today, Tapestry was honored to host
local community leaders and partners who made this project possible
including Mayor of North Las Vegas Pamela Goynes-Brown; Executive
Director of the Governor’s Office of Economic Development (GOED),
Tom Burns; City of North Las Vegas Council Members Isaac Barron,
Richard Cherchio and Ruth Garcia-Anderson; North Las Vegas City
Manager Dr. Ryann Juden, City Attorney Micaela Moore and key
members of the city's leadership team; North Las Vegas Chambers of
Commerce members; esteemed local business leaders as well as
representatives from end-to-end material handling systems
integrator FORTNA, warehouse management system partner Manhattan,
asset manager Clarion Partners, and commercial real estate firm
JLL.
“The City of North Las Vegas continues to lead Southern Nevada
in industrial development and economic diversification,” said Mayor
Pamela Goynes-Brown. “We appreciate a world-renowned company like
Tapestry choosing the City of North Las Vegas to expand to, and all
of the jobs and opportunities they will bring to our residents.
Having been at Tapestry’s groundbreaking, it is very exciting for
me to see the project come full circle.”
The ribbon cutting ceremony was attended by company
representatives dedicated to the success of this project including
Tapestry CEO Joanne Crevoiserat; Coach CEO & Brand President
Todd Kahn; Chief Supply Chain Officer Peter Charles; Chief Omni and
Innovation Officer Noam Paransky; Chief People Officer Denise
Kulikowsky; SVP of Global Fulfillment and Logistics Ken Sanders; VP
of Fulfillment and Logistics Todd McCullough; and Senior Director
of Engineering and Facilities Joseph Gillespie.
Tapestry is committed to creating an environment that keeps its
people at the forefront of the business. With the new Fulfillment
Center, the company has reinforced its dedication to investing in
its employees and community – as well as ensuring the customer
satisfaction is of utmost importance, decreasing delivery windows
from 5-7 days down to 2-3 days.
Tapestry’s SVP of Global Fulfillment and Logistics Ken Sanders
said, “The new North Las Vegas Fulfillment Center is a testament to
our continuous growth as a company, and something we couldn’t have
done without the ongoing support of our exceptional workforce. Our
people have been critical to making this center a reality, and we
are excited to continue our collaboration with our local partners
and the broader community leveraging this new facility.”
For more information on Tapestry, please visit:
https://tapestry.gcs-web.com/
About Tapestry, Inc.
Our global house of brands unites the magic of Coach, Kate Spade
New York and Stuart Weitzman. 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. We use our
collective strengths to move our customers and empower our
communities, to make the fashion industry more sustainable, and to
build a company that’s equitable, inclusive, and diverse.
Individually, our brands are iconic. Together, we can stretch
what’s possible. To learn more about Tapestry, please visit
www.tapestry.com. For important news and information regarding
Tapestry, visit the Investor Relations section of our website at
www.tapestry.com/investors. In addition, investors should continue
to review our news releases and filings with the SEC. We use each
of these channels of distribution as primary channels for
publishing key information to our investors, some of which may
contain material and previously non-public information. 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, the statements that can be identified by the use of
forward-looking terminology such as "may," "will," “can,” "should,"
"expect," “expectation,” “potential,” "intend," "estimate,"
"continue," "project," "guidance," "forecast," “outlook,” “commit,”
"anticipate," “goal,” “leveraging,” “sharpening,” transforming,”
“creating,” accelerating,” “enhancing,” “innovation,” “drive,”
“targeting,” “assume,” “plan,” “progress,” “confident,” “future,”
“uncertain,” “on track,” “achieve,” “strategic,” “growth,” “view,”
“we can stretch what’s possible,” 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 the impact of economic conditions,
recession and inflationary measures, the impact of the Covid-19
pandemic, risks associated with operating in international markets
and our global sourcing activities, the ability to anticipate
consumer preferences and retain the value of our brands, including
our ability to execute on our e-commerce and digital strategies,
the ability to successfully implement the initiatives under our
2025 growth strategy, the effect of existing and new competition in
the marketplace, our ability to control costs, the effect of
seasonal and quarterly fluctuations on our sales or operating
results; the risk of cybersecurity threats and privacy or data
security breaches, our ability to protect against infringement of
our trademarks and other proprietary rights, the impact of tax and
other legislation, the risks associated with potential changes to
international trade agreements and the imposition of additional
duties on importing our products, our ability to achieve intended
benefits, cost savings and synergies from acquisitions including
our proposed acquisition of Capri Holdings Limited (“Capri”), the
anticipated impact of the proposed acquisition of Capri on the
combined company’s business and future financial and operating
results, the anticipated closing date for the proposed acquisition
of Capri, risks related to the availability of funding for our
bridge loan facility associated with our proposed acquisition of
Capri, the impact of pending and potential future legal
proceedings, and the risks associated with climate change and other
corporate responsibility issues, etc. In addition, purchases of
shares of the Company’s common stock will be made subject to market
conditions and at prevailing market prices. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231115528378/en/
Tapestry, Inc. Media: Andrea Shaw Resnick Chief Communications
Officer 212/629-2618 aresnick@tapestry.com
Analysts and Investors: Christina Colone Global Head of Investor
Relations 212/946-7252 ccolone@tapestry.com
Kelsey Mueller 212/946-8183 Director of Investor Relations
kmueller@tapestry.com
Tapestry (NYSE:TPR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Tapestry (NYSE:TPR)
Historical Stock Chart
From Sep 2023 to Sep 2024