Tapestry Inc, the parent company of Kate Spade, Coach, and Stuart Weitzman, has updated its ESG strategy including new objectives to match its ambitions, starting with new science-based targets. The group aims to reduce total greenhouse gas emissions in Scopes 1, 2, and 3 by 42.5% by 2030 and achieve net zero emissions by 2050. In 2022, it reduced its total GHG emissions by 5% compared to the previous year.
The company has also updated its volunteer target of 500,000 hours by 2030, following the achievement of its 2025 target of 100,000 hours, and added new environmentally preferable materials targets focused on key raw materials and manufacturing processes.
As a result, the leading New York-based house of iconic accessories and lifestyle brands has announced that it has become a network partner of the Ellen MacArthur Foundation, an international charity that develops and promotes the idea of a circular economy. As a member of the Foundation's Fashion Initiative Advisory Board, Tapestry brings its commitment to a circular future, innovative capabilities to promote circular business models led by its brands, and technical and practical experience in creating products designed to last.
The Need for Circularity
Tapestry recognizes the importance of transitioning to a circular economy based on three key principles, all driven by design: Prevention of waste and pollution, recycling of products and materials, and regeneration of nature. By joining the Foundation's network, Tapestry is building on its brands' commitment to innovating and scaling circular economy models.
This includes Coach (Re)Loved, the brand's global circular ecosystem of unique Coach programs in repair, refurbishment, upcycling, recycling, and trade-in by the customer, which aim to give used and damaged Coach products a second life so they can continue to be used rather than going to landfill. The program, which has (re)loved more than 20,000 items since its April 2021 launch, is now available in the United States, Canada, the United Kingdom, Japan, and China. In addition, kate spade new york recently launched a partnership with thredUP to give its customers the opportunity to buy used styles and trade products, as part of the brand's first steps toward creating a circular future.
Driving Change Through Education and Training
Educating and training the current and next generation of design talent in the principles of a circular economy is also a critical element of making fashion circular. In 2022, Tapestry hosted its first Circular Design Workshop to encourage designers from Coach and kate spade new york to learn about the principles of circular design and explore how products can flow through circular business models.
In 2022, Coach also launched the Coach (Re)Loved Craftsperson Apprenticeship Program and the CFDA x Coach Dream It Real Circular Design Scholarship, which will be awarded to 15 design students. Both apprenticeship programs are helping to produce new generations of designers and craftspeople equipped with the skills and passion to drive change toward the circular economy.
Investing in Sustainability
In addition, Tapestry launched a four-year, $3 million partnership with the World Wildlife Fund (WWF) and supported the Fashion Institute of Technology's Social Justice Center (SJC) foundation with financial investments from the Tapestry Foundation. As a company that outlines the importance of responsible materials in fashion, and has outlined its continued support and partnership with the Leather Working Group.
The LWG is a not-for-profit organization responsible for the world's leading environmental certification for the leather manufacturing industry. It's the number one globally recognized brand representing responsible leather sourcing to the industry and consumers.