NEW YORK–(BUSINESS WIRE)–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).
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.
Contacts
Tapestry, Inc.
Media:
Andrea Shaw Resnick
Chief Communications Officer
212/629-2618
[email protected]
Analysts and Investors:
Christina Colone
Global Head of Investor Relations
212/946-7252
[email protected]
Kelsey Mueller
212/946-8183
Director of Investor Relations
[email protected]
