First, the company has formed a new Tapestry Foundation to advance access and equity initiatives and to combat climate change. In addition, Tapestry is taking further action to accelerate and amplify it’s Our Social Fabric corporate responsibility agenda to effect positive change.
The Tapestry Foundation is said to be dedicated to advancing equity, opportunity, and dignity for all. The foundation is committed to supporting social and environmental programmes focused on access and opportunity. Tapestry has made an initial contribution of US$25 million to the foundation. Additionally, the Coach Foundation will grant US$25 million of its corpus for the endowment of the Tapestry Foundation.
Tapestry is strengthening its dedication to environmental efforts to combat climate change by committing to procure 100% renewable electricity in the company’s stores, offices, and fulfilment centres by 2025.