Slide 1: Tapestry
tapestry COACH | kate spade | STUART WEITZMAN
Slide 2: Forward-looking statements
This presentation contains certain “forward-looking statements” based on management's current expectations. Forward-looking statements include, but are not limited to statements which can be identified by the use of forward-looking terminology such as “may,” “will,” “can,” “should,” “expect,” “inten
Slide 3: Purpose
Purpose STRETCH WHAT'S POSSIBLE STRETCH speaks to how tensions challenge and pull us in new directions. These tensions compel us to look beyond ourselves and embrace new perspectives, experiences and ideas. WHAT'S POSSIBLE refers to what happens when we embrace the creative tensions within each othe
Slide 4: Values
Values Built by go-getters who saw unseen needs and took daring leaps, we channel that same passion today, doing what it takes to make the dream happen and refusing to settle for anything less. From how we source, to how we sew, to how we sell, we insist on the highest integrity at each step, doing
Slide 5: Competitive Advantages
bi ' . & Competitive Avhantages UR a 01 02 O08 tapestry 5 4 O05
Slide 6: Iconic Brands
OT Iconic Brands kate spade NEW YORK STUART WEITZMAN tapestry
Slide 7: Attractive Categories
02 Attractive Categories WE PLAY IN Growing & High-margin Categories PERSONAL PREMIUM GOODS HANDBAGS, SLGS, FTW & APPAREL HANDBAGS, SLGS & FTW TAPESTRY FY22 Global market sourced from Euromonitor FY22, Bain Altagamma Luxury Goods World Wide Market Study Spring 2022. All figures have been aligned to
Slide 8: Diversified Model with Omni-Channel Leadership
03 Diversified Model with Omni-Channel Leadership Women’s Accessories 19% Category High-growth, high-margin categories Resilient & durable demand given emotional & functional need these categories fulfill Greater Cem Geography 15% Global leader in core categories with permission to play in lifestyle
Slide 9: Global Platform
04 Global Platform Modern, Data-driven & Agile Platform DESIGNED TO DRIVE CONSUMER ENGAGEMENT tapestry ’
Slide 10: Talented Team
5 Talented Team Joanne Scott Roe Crevoiserat CHIEF FINANCIAL CHIEF EXECUTIVE OFFICER Andrea Shaw Resnick CHIEF COMMUNICATIONS OFFICER OFFICER & CHIEF OPERATING OFFICER Peter Charles CHIEF SUPPLY CHAIN OFFICER / Todd Kahn CEO & BRAND PRESIDENT COACH ay David Howard Liz Fraser CEO & BRAND PRESIDENT KA
Slide 11: Powering Iconic Brands to Move at the Speed of the Consumer
WE'RE POWERING ICONIC BRANDS TO MOVE AT THE SPEED OF THE CONSUMER futurespeed
Slide 12: Build Lasting Customer Relationships
BUILD LASTING FUEL FASHION DELIVER POWER GLOBAL CUSTOMER INNOVATION & COMPELLING GROWTH RELATIONSHIPS PRODUCT OMNI-CHANNEL EXCELLENCE EXPERIENCES tapestry
Slide 13: 2023 Overview & FY23 Outlook
2023 Overvie & FY23 Outlook. REF 2s tapestry
Slide 14: CEO quote on holiday season
“During the key holiday season - where brand magic, compelling product and operational excellence are required to win with consumers - we outperformed expectations. This is a direct reflection of our talented teams and the benefits of our globally diversified business model, which continue to fuel i
Slide 15: Second Quarter Highlights
Second Quarter Highlights Achieved earnings ahead of expectations as we remained disciplined stewards of our brands DELIVERED REVENUE OF OVER CONSISTENT WITH OUTLOOK REALIZED A RECORD IN SECOND QUARTER EARNINGS PER DILUTED SHARE EXPANDED GROSS MARGIN BY WHICH OUTPACED FORECAST DROVE EARNINGS PER SHA
Slide 16: Revenue Trends by Geography: 2Q23
Revenue Trends by Geography: 2Q23 Growth rates shown on a constant currency basis. =~ tapestry 6
Slide 17: P&L Overview by Brand: 2Q23
P&L Overview by Brand: 2Q23 NET REVENUE GROSS PROFIT SG&A EXPENSES OPERATING INCOME EARNINGS PER DILUTED SHARE Net Revenue growth rates expressed on a constant currency basis. Earnings per diluted share growth rate compares to last year’s non-GAAP financials and excludes $0.11 of year-over-year curr
Slide 18: Coach Highlights: 2Q23
Coach Highlights: 2Q23 Delivered revenue ahead of our plan, while driving operating margin to over 31% despite a difficult backdrop Fueled a mid-single-digit constant currency gain in handbag AUR globally and in North America, aided by our compelling & innovative product offering Continued to build
Slide 19: Kate Spade Highlights: 2Q23
Kate Spade Highlights: 2Q23 Delivered revenue ahead of our expectations; continued to invest in and advance the brand's strategic priorities to become more emotional, more lifestyle and more global Reinforced the pillars of our handbag collection — notably through our Knott & Katy families, as well
Slide 20: Stuart Weitzman Highlights: 2Q23
Stuart Weitzman Highlights: 2Q23 Progressed against the brand's strategies to build brand awareness and offer products that spark desire Curated an assortment of high-emotion product across both occasion wear and casual styles, including our iconic families, notably Soho, Stuart and Land Continued t
Slide 21: Committed to creating shareholder value
Tapestry remains committed to creating shareholder value RETURNED EXPECT TO SHAREHOLDERS IN 2023 IN SHAREHOLDER RETURNS IN FY23 = Repurchased $200 million in common stock in the second quarter = Repurchase of $700 million of common stock planned = Returned $72 million to shareholders through our div
Slide 22: Raised full year earnings outlook
Raised full year earnings outlook REVENUE Approximately $6.6 billion REVENUE GROWTH 2% to 3% on a constant currency basis; slight decline on a reported basis due to 300 basis points of FX headwind GROSS MARGIN Slightly ahead of FY22, with favorable freight costs & AUR increases partially offset by r
Slide 23: Capital allocation priorities
Capital allocation priorities focused on driving organic growth, profitability and shareholder value CURRENT FUTURE =~ tapestry
Slide 24: tapestry
tapestry
Slide 25: tapestry
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Slide 26: Being genuine and real has always been part of our ethos
BEING GENUINE AND REAL HAS ALWAYS BEEN PART OF OUR ETHOS AND PART OF THE IMPACT WE MAKE. TODAY, OUR CUSTOMERS SEEK MEANINGFUL CONNECTION AND SOMETHING REAL. THIS CAN ONLY HAPPEN WHEN THEY FEEL LIKE THEY CAN BE THEIR TRUE SELVES. OVER TIME, WE'VE LEARNED THAT COURAGE IS CONTAGIOUS, AND THAT WHEN YOU
Slide 27: Coach Net Sales
$4.9B NET SALES As of FY22. m= COACH 945 50+ 10,800 DIRECTLY COUNTRIES EMPLOYEES OPERATED STORES 27
Slide 28: Coach Revenue Breakdown
Coach Revenue Breakdown Direct to consumer-focused brand with diversified product categories & geographies. pf Other Asia % 14% Category Geography As of FY22. Channel
Slide 29: Coach Brand Building
BRAND BUILDING TO CONNECT EMOTIONALLY = Lead with purpose to engage our target audience = Recruit new customers, focusing on timeless Gen Z / Millennial consumers = Drive high receptivity to product stories through effective marketing = Increase retention rates & repeat purchases to maximize custome
Slide 30: kate spade
kate spade NEW YORK tapestry
Slide 31: Since its launch in 1993
SINCE ITS LAUNCH IN 1993 WITH A COLLECTION OF SIX ESSENTIAL HANDBAGS, KATE SPADE NEW YORK HAS ALWAYS BEEN COLORFUL, BOLD 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, FOOT
Slide 32: Kate Spade Net Sales
SLAB NET SALES DIRECTLY COUNTRIES EMPLOYEES OPERATED STORES As of FY22. —— & 32
Slide 33: Kate Spade Revenue Breakdown
Kate Spade Revenue Breakdown Opportunity to maximize core handbag offering, while:buitdingeupompositioning as a lifestyle brand. Rest of World Other Asia 7% 10% Category Geography Channel
Slide 34: Kate Spade FY25 Growth
Kate Spade FY25-Growg a y MORE EMOTIONAL LIFESTYLE GLOBAL = Create emotional product with = Capitalize on positioning as a style innovation lifestyle brand = Grow North America, grow other regions faster Invest in marketing that amplifies the brand's unique positioning & universally relevant purpose
Slide 35: tapestry
tapestry
Slide 36: Stuart Weitzman Celebrates Women Who Stand Strong
STUART WEITZMAN CELEBRATES WOMEN WHO STAND STRONG
Slide 37: Stuart Weitzman Net Sales
NET SALES DIRECTLY COUNTRIES EMPLOYEES OPERATED STORES As of FY22.
Slide 38: Category Geography Channel
Category Geography Channel As of FY22. w
Slide 39: Stuart Weitzman Growth Priorities
SPARK CONSUMER DESIRE WITH PRODUCT = Design high-emotion product to drive AUR = Build new icons & reignite existing icons = Deliver assortment that is balanced across end-uses = Offer on-trend product, anchored in global key styles = Create Global collaborations BUILD EXCITING OMNI-CHANNEL EXPERIENC
Slide 40: ESG & Corporate Responsibility
_ ESG & Corpora Responsibility _ Esai —— tapestry
Slide 41: A Vision for a Better-Made Future
A VISION FOR A BETTER-MADE FUTURE Fabric of Change OUR PLANET OUR COMMUNITIES : nN WN \ } J. tw hm ¢ tapestry
Slide 42: Our People
Our People 2025 Goals Build diversity in Tapestry and brand leadership teams in North America by increasing the number of racial and ethnic minority leaders to better reflect the company's general corporate population. Reduce differences in our Employee Inclusion Index scores based on gender and eth
Slide 43: Our Planet
Our Planet 2025 & Beyond Goals Reduce absolute Scope 1, 2 and 3 GHG emissions by 42.5% below FY21 by FY30 Attain a 95% traceability and mapping of our raw materials to ensure a transparent and responsible supply chain. Ensure that 90% of leather is sourced from Silver and Gold-rated Leather Working
Slide 44: Our Communities
Our Communities Dedicate 500,000 volunteer service hours by our employees around the globe by 2030, following the achievement of reaching Tapestry's 100,000-hour volunteer goal two years ahead of schedule. Give $75 million in financial and product donations to nonprofit organizations globally. Provi
Slide 45: tapestry
tapestry
Slide 46: The Company reports information in accordance with U.S. GAAP
The Company reports information in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). The Company's management does not, nor does it suggest that investors should, consider non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in a
Slide 47: Condensed Consolidated Segment Data
Condensed Consolidated Segment Data For the quarter ended December 31, 2022. in millions, except per share data; unaudited GAAP BASIS (AS REPORTEI Coach $1,035.3 Kate Spade 302.1 Stuart Weitzman 51.9 Gross profit 1,389.3 Coach 582.1 Kate Spade 233.1 Stuart Weitzman 51.2 Corporate 104.7 Selling, gene
Slide 48: Overview of Tapestry Revenue Growth: 2Q23
Overview of Tapestry Revenue Growth: 2Q23 AS REPORTED CONSTANT CURRENCY CONSTANT CURRENCY EXCL. Global -5% 2% +1% North America -2% -2% n/a Greater China -27% -20% n/a Japan -12% +10% n/a Europe 8% +20% n/a Other Asia 19% +29% n/a Direct-to-Consumer -6% -2% +low-single-digit Stores -b6% -1% +mid-sin
Slide 49: GAAP to non-GAAP reconciliation
GAAP tonon-GAAP reconciliation For the quarter ended January 1, 2022. in millions, except per share data; unaudited GAAP BASIS (AS REPORTED) DEBT EXTINGUISHMENT ACCELERATION PROGRAM NON-GAAP BASIS (EXCLUDING ITEMS) coach $1.078.2 + = $1,078.2 Kate Spade 308.0 - - 308.0 Stuart Weitzman n2 — = ae Gros
Slide 50: GAAP to non-GAAP reconciliation
GAAP tonon-GAAP reconciliation For the year ended July 2, 2022. in millions, except per share data; unaudited GAAP BASIS (AS REPORTED} \CCELERATION PROGRAM DEBT EXTINGUISHMENT NON-GAAP BASIS (EXCLUDING ITEMS) Coach $3,553.8 $- $- $3,553.8 Kate Spade 912.0 - - 912.0 Stuart Weitzman 184.6 - - 184.6 Gr
Slide 51: GAAP to non-GAAP reconciliation
GAAP tonon-GAAP reconciliation For the year ended June 29, 2019. TONS oF) IIE Ie Te Rg Ti] | GAAP BASIS (AS REPORTED) ACCELERATION PROGRAM INTEGRATION & ACQUISITION IMPACT OF TAX LEGISLATION NON-GAAP BASIS (EXCLUDING ITEMS) Coach $2,996.4 $(1.9) + $2,998.3 Kate Spade 863.6 - (6.3) - 869.9 Stuart Wei
Slide 52: tapestry
tapestry COACH | kate spade | STUART WEITZMAN © 2023 Tapestry, Inc.