Business Description

Tapestry, Inc. (the "Company") is a global house of iconic accessories and lifestyle brands uniting the magic of Coach and kate spade new york. Together, we stretch what’s possible – advancing brands further than they could go alone, expanding their reach to new geographies and generations. Inspired by our consumers, we create experiences and products that build lasting brand love and elevate everyday life. OUR BRANDS The Company has two reportable segments: • Coach - Coach is a global fashion house of accessories and lifestyle collections, founded in New York City in 1941. Inspired by the vision of Expressive Luxury and the inclusive and courageous spirit of its hometown, the brand makes beautiful things, crafted to last – for you to be yourself in. Coach has built a legacy of craftsmanship and a community that champions the courage to be real. Coach includes global sales of primarily Coach brand products to customers through our direct-to-consumer ("DTC"), wholesale and licensing businesses. This segment represented 86.4% of total net sales in fiscal 2026. • Kate Spade - Since its launch in 1993 with a collection of six essential handbags, kate spade new york has always been feminine, colorful, and optimistic. Today, it is a global lifestyle brand that designs extraordinary things for the everyday, delivering seasonal collections of handbags, ready-to-wear, jewelry, footwear, gifts, home décor and more. Known for its rich heritage and unique brand DNA, kate spade new york's mission is to be the world's most welcoming and uplifting fashion brand. Where a touch of wit and intentional color can inspire you to find joy in the everyday. Kate Spade includes global sales of primarily kate spade new york brand products to customers through our DTC, wholesale and licensing businesses. This segment represented 13.4% of total net sales in fiscal 2026. On August 4, 2025, the Company completed the sale of the Stuart Weitzman business and, as a result, determined it had two reportable segments on a prospective basis. For the year ended June 27, 2026, Stuart Weitzman net sales were $14.6 million, representing 0.2% of total net sales in fiscal 2026. Refer to Note 5, "Acquisitions and Divestitures," for further information. In addition to these reportable segments, the Company has certain corporate expenses that are not directly attributable to its brands ("Unallocated corporate expenses"); therefore, they are not allocated to its segments. Such costs primarily include certain overhead expenses related to corporate functions as well as certain administration, corporate occupancy, information technology and depreciation costs. Refer to Note 17, "Segment Information," for further information about the Company's segments. OUR STRATEGY In the first quarter of fiscal 2026, the Company introduced its 2028 growth strategy (“Amplify”), which focuses on four key pillars: • Build Emotional Connections with Consumers: The Company aims to drive new customer acquisition, with a focus on Gen Z consumers entering the market to build brand love and lifetime value. • Fueling Fashion Innovation & Product Excellence: The Company aims to lead with handbags and leathergoods with targeted lifestyle expansion in footwear. • Delivering Compelling Experiences to Drive Global Growth: The Company aims to sustain growth in North America and accelerate momentum in international markets, prioritizing Greater China and Europe. • Ignite the Power of Our People: The Company aims to future-proof growth by continuing to develop a consumer-obsessed culture that is agile and always looking forward. 2 DIRECT TO CONSUMER BUSINESS Our DTC business consists of channels that provide us with immediate, controlled access to consumers. This includes retail and outlet stores, brand e-commerce sites as well as concession shop-in-shops. DTC revenues were approximately 87% of total net sales in fiscal 2026. • Stores - Our brands operate freestanding retail stores, outlet stores, as well as concession shop-in-shop locations. These stores are located in regional shopping centers, metropolitan areas throughout the world and established outlet centers. Store Count 2026 2025 2024 Coach North America 336 324 324 International 637 607 606 Total Coach 973 931 930 Kate Spade North America 178 189 197 International 148 171 181 Total Kate Spade 326 360 378 Avg.…