Tapestry Inc. — parent company of Coach, Kate Spade and Stuart Weitzman — is taking action.
The luxury fashion holding company has announced today the release of its new 2025 corporate responsibility goals, underlined by an ambitious plan to build diversity within its ranks and reduce its environmental impact just in time for Earth Day.
Among its ecological targets are the 20 percent reduction in greenhouse gas emissions, the sourcing of 90 percent of leather from eco-friendly tanneries and the 95 traceability of raw materials to ensure a transparent supply chain. It also intends to cut down its water usage by 10 percent as well as recycle 75 percent of packaging and trim 25 percent of waste in its North American corporate arm.
On the social front, Tapestry aims to increase the number of minority leaders based in the North America office, reduce gender and ethnicity differences (as gathered from its employee engagement survey) and expand its volunteerism around the globe.
“Built on our values of optimism, innovation and inclusivity, these goals solidify our commitment to social responsibility as we recognize our role as a leader in our industry to effect real, measurable change,” CEO Victor Luis said in a statement. “Addressing pressing global issues and contributing to a world that is inclusive, sustainable and safe is a responsibility that we all share.”
The report coincides with the launch of the firm’s new project dubbed Our Social Fabric, an auxiliary website dedicated to Tapestry’s sustainability and social governance initiative.
Since the launch of its corporate responsibility program in 2013, the New York-based company has been featured on Forbes’ “Best Employers for Diversity” list this year, joined the CEO Action for Diversity & Inclusion and signed the UN Global Compact — a commitment to adopt universally sustainable and socially responsible policies.
“We are tremendously passionate about corporate responsibility. It influences everything that we do. And perhaps most importantly, it is the right thing to do,” Luis added. “We recognize that this ambitious strategy will require us to push our boundaries, and we’re ready for the challenge. At Tapestry, we believe that enacting change is done better, together.”
Watch FN’s video on environmentally friendly shoe brand Allbirds.
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