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logoMorningstarOctober 27, 2020

Tapestry, Inc.: Tapestry Taps Crevoiserat to Lead Its Acceleration Program as Its Permanent CEO; Shares Undervalued

Symbols
TPR
Sector(s)
Consumer Cyclical
Rating
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Current Price
$29.00
Fair Value
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Economic Moat
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Stewardship
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Summary

Coach, Kate Spade, and Stuart Weitzman are the fashion and accessory brands that comprise Tapestry. The firm’s products are sold through about 1,500 company-operated stores, wholesale channels, and e-commerce in North America (62% of fiscal 2020 sales), Europe, Asia (32% of fiscal 2020 sales), and elsewhere. Coach (71% of fiscal 2020 sales) is best known for affordable luxury leather products. Kate Spade (23% of fiscal 2020 sales) is known for colorful patterns and graphics. Women’s handbags and accessories produced 68% of Tapestry's sales in fiscal 2020. Stuart Weitzman, Tapestry's smallest brand, generates nearly all (98%) of its revenue from women’s footwear.

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