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Tapestry, Inc. Signs Women’s Empowerment Principles Charter of UN Women

NEW YORK--(BUSINESS WIRE)--

Tapestry, Inc. (TPR), a leading New York-based house of modern luxury accessories and lifestyle brands, today announced it has signed the Women’s Empowerment Principles Charter, a joint initiative of UN Women and the UN Global Compact (UNGC), providing guidance for promoting gender equality in the workplace through a set of seven Principles. Established to champion the development of women, businesses are encouraged to implement these Principles, which include establishing high-level corporate leadership for gender equality, promoting education, training and professional development for women, and promoting equality through community initiatives and advocacy.

Victor Luis, Chief Executive Officer of Tapestry, Inc., said, “I am thrilled to be signing the Women’s Empowerment Principles Charter on behalf of Tapestry, Inc. on International Women’s Day. At Tapestry, inclusivity is core to our values. The importance of gender equality and the continued conversation around this critical topic needs to come from the top. Three of our nine Board Directors are women, and women hold 60 percent of leadership positions within our organization. In an era where issues of gender, race and sexual orientation receive mass media attention, our commitment to the Women’s Empowerment Principles reaffirms our belief that anyone, from anywhere, can have a great idea. At Tapestry, success is based on merit – nothing else.”

Phumzile Mlambo-Ngcuka, Under-Secretary-General and Executive Director, UN Women added, “The 2030 Agenda for Sustainable Development envisages for us a world where no one is left behind, where every woman, man, girl and boy is able to live up to their full potential. If you wonder why gender equality is so important, just try to think of any part of the world, or even any business, where it’s possible to say that we’ve already achieved it. Whether you consider equal pay for women when they do the same job as a man; a balanced group of decision makers bringing their experience to bear on an issue in boardrooms or parliaments; or women’s full engagement in peace processes; in every case, there are gaps that are holding us back from achieving the 2030 Agenda vision of an end to poverty and a peaceful, sustainable world. Those gaps are the spaces where women – and girls – are missing. The WEPs can make a direct and substantive impact on empowering women and closing those gaps.”

In October 2018, Tapestry signed the UN Global Compact, which initiated the Company’s engagement with the UN.

Tapestry’s participation in the UN Global Compact builds upon established Corporate Responsibility (CR) programs. In 2001, the first year as a public company, Tapestry published its Supplier Code of Conduct, as well as a Social Auditing Program, both focusing on social and environmental compliance, solidifying the expectations placed upon suppliers regarding fair working conditions, wages and safety. The Social Auditing Program for factory compliance set high standards within the luxury industry.

Tapestry instituted its formal Sustainability Program in 2013, and in 2015, introduced the first set of Corporate Responsibility goals -- targets that focus on climate change, water, waste management and social issues, reporting progress annually.

For more information on Tapestry’s Corporate Responsibility program, please visit https://tapestry.gcs-web.com/sustainability-reports.

About UN Women

UN Women is the United Nations entity dedicated to gender equality and the empowerment of women. A global champion for women and girls, UN Women was established to accelerate progress on meeting their needs worldwide.

About the Women’s Empowerment Principles

The Women's Empowerment Principles offer seven steps to guide businesses on how to empower women in the workplace, marketplace and community. Subtitled, Equality Means Business, the Principles emphasize the business case for corporate action to promote gender equality and women's empowerment, and are informed by real-life business practices and input gathered from across the globe. Rather than being prescriptive or a new initiative to which businesses are asked to subscribe, the WEPs seek to point the way to best practices by elaborating the gender dimensions of good corporate citizenship, the UN Global Compact and business role in sustainable development. To date, more than 2,180 business leaders from around the world have signed a CEO Statement of support for the WEPs, confirming their commitment towards the advancement and empowerment of women, and towards the best practices highlighted by the seven Principles.

About the UN Global Compact

The UN Global Compact is a corporate sustainability initiative that aligns businesses, strategies and operations with ten principles on human rights, labour, environment and anti-corruption. It encourages participants to take actions to advance societal goals, such as the UN Sustainable Development Goals. Established in 2000, the UN Global Compact emphasizes collaboration and innovation between participants, the greater community and governments, and is present in over 160 countries and more than 80 local networks.

About Tapestry, Inc.

Tapestry, Inc. is a New York-based house of modern luxury lifestyle brands. The Company’s portfolio includes Coach, Kate Spade 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 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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