Slide 1: Tapestry
tapestry
Slide 2: Forward-looking statements
tapestry <m This presentation contains certain “forwarcHooking 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,” “expe
Slide 3: Purpose: Stretch What's Possible
PURPOSE tapestry <= Stretch Whats 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 withi
Slide 4: Values
VALUES DEDICATED TO THE DREAM 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. © 2022 Tapestry, Inc. HOLD TO HIGH STANDARDS From how we source, to how we sew, to
Slide 5: Brand attributes
UTHENTIC, COURAGEOUS, INCLUSIVE STYLISH, CONFIDENT, SOPHISTICATED JOYFUL, OPTIMISTIC, COLORFUL
Slide 6: Global leader in advantaged categories with direct distribution
tapestry Global leader in advantaged categories with direct distribution REVENUE BY CATEGORY Women's Accessories, 19% * High-growth, high-margin categories + Resilient & durable demand given emotional & functional need these categories fulfill © 2022 Tapestry, Inc. Figures as of FY22. REVENUE BY GEO
Slide 7: Consumer-centric leadership team with a proven track record
tapestry <m Consumer-centric leadership team with a proven track record JOANNE CREVOISERAT TODD KAHN LIZ FRASER GIORGIO SARNE SCOTT ROE NOAM PARANSKY Chief Executive Officer CEO & Brand President, CEO & Brand President, CEO & Brand President, CFO & Chief Chief Omni & Coach Kate Spade Stuart Weitzman
Slide 8: FY22 Overview & FY23 Outlook
tapestry FY22 Overview & FY23 Outlook = E ' E
Slide 9: Drove standout results in the fiscal year
DROVE STANDOUT RESULTS IN REMAIN CONFIDENT IN THE THE FISCAL YEAR SIGNIFICANT RUNWAY AHEAD • • • • • • •
Slide 10: Fourth quarter and fiscal year highlights
GLOBAL DIGITAL SALES ROSE HIGH-SINGLE- FUELED A FOURTH QUARTER RECORD DROVE REVENUE GROWTH OF DIGITS AND REPRESENTED NEARLY $1.6 billion 9% 30% IN REVENUE ON A CONSTANT CURRENCY BASIS OF TOTAL REVENUE DELIVERED EARNINGS PER IN NORTH AMERICA, ACQUIRED NEARLY RETURNED APPROXIMATELY SHARE GAINS OF 1.8
Slide 11: 4Q22 Revenue Trends by Geography
tapestry 40)22 Revenue Trends by Geography Revenue excludes Distributors. Comparisons to the prior year’s fourth quarter exclude the impact of the additional week (full reconciliation in the appendix) (1) Japan growth compared to last year excludes headwind from currency, sales rose approximately 10
Slide 12: Revenue and operating income
REVENUE 4Q21 4Q22 4Q19 4Q22 OPERATING INCOME 4Q21 4Q22 4Q19 4Q22
Slide 13: CEO quote on Acceleration Program
tapestry <m “We've made tremendous strides forward under our Acceleration Program. | am confident in the foundation we've built, which positions us to continue to be agile in an ever-changing environment, as we remain focused on moving at the speed of the consumer to drive sustainable, profitable gr
Slide 14: Coach Highlights
Coach Highlights Ree A, om * Achieved revenue growth of 18% for the fiscal year at a strong operating margin of 30% * Delivered a focused and compelling product assortment, underpinned by our core handbag families, including Tabby, Willow, Rogue and Field, which continue to resonate with consumers +
Slide 15: Kate Spade Highlights
RN \ | Kate Spade Highlights o— * Delivered record revenue of over $1.4 billion for the fiscal year, representing growth of 22%, while expanding operating margin * — Continued to build out core handbag offering by amplifying key platforms, such as the Knott, and introduced new shapes in the fourth q
Slide 16: Stuart Weitzman Highlights
Stuart Weitzman Highlights W = + Delivered double-digit sales growth and returned the brand to profitability in the fiscal year * Maintained a consumer-centric strategy by utilizing data analytics to deliver a compelling assortment, capitalizing on the recent shift toward occasion-wear * Recruited n
Slide 17: P&L Overview by Brand: FY22 Q4
P&L Overview by Brand: FY22 Q4 NET REVENUE GROSS PROFIT SG&A EXPENSES OPERATING INCOME EARNINGS PER DILUTED SHARE © 2022 Tapestry, Inc. TAPESTRY $1.62B +7h% vs. LY $1.12B 68.9% margin $860M 52.9% of sales $260M 16.0% margin $0.78 vs. $0.65 LY $1.21B +8% vs. LY 71.5% margin 42.4% of sales $352M 29.1%
Slide 18: Capital Allocation Priorities
tapestry <m Capital Allocation Priorities RETURN CAPITAL TO REINVEST IN THE BUSINESS SHAREHOLDERS returns and long-term share repurchases profitable growth © 2022 Tapestry, Inc. 18 | to support strong | through dividends and
Slide 19: Returned to shareholders in FY22; FY23 expectation
$1.9 BILLION RETURNED TO SHAREHOLDERS IN FY22 • • EXPECT $1.0 BILLION IN SHAREHOLDER RETURNS IN FY23 • •
Slide 20: FY23 outlook
tapestry <m Leveraging established capabilities & leaning into our competitive advantages amid a challenging backdrop REVENUE In the area of $6.9 billion "REVENUE GROWTH GROSS MARGIN SG&A EXPENSE OPERATING MARGIN. “NET INTEREST EXPENSE TAX RATE “SHARE COUNT “DILUTED EPS “CAPEX & CLOUD COMPUTING Grow
Slide 21: Acceleration Program
Acceleration Program © 2022 Tapestry, Inc. 2
Slide 22: Acceleration
tapestry <a acceleration we are accelerating growth & profitability /ak, sela'raSH(a)n/ 9 mam we are accelerating our focus on the consumer the act of accelerating; . , _ increase of speed or velocity. we are accelerating with agility & urgency together
Slide 23: Acceleration Program pillars and results
SHARPEN OUR FOCUS ON THE LEVERAGE DATA & LEAD WITH A TRANSFORM INTO A LEANER & MORE CONSUMER DIGITAL-FIRST MINDSET RESPONSIVE ORGANIZATION • • • • • • • RESULTED IN ACCELERATED GROWTH & ENHANCED PROFITABILITY ACROSS THE PORTFOLIO
Slide 24: Acceleration Program results
REALIZED OPERATIONAL SAVINGS TO FUND ACHIEVED RECORD ANNUAL REVENUE OF DELIVERED BRAND BUILDING, WITH MARKETING AT $6.7 billion $2.0 billion 8% IN FY22, REPRESENTING GROWTH OF 11% IN GLOBAL DIGITAL SALES, MORE THAN OF SALES, AS COMPARED TO 3-4% IN FY19 AGAINST THE PRIOR YEAR TRIPLING VS. FY19 PRE-PA
Slide 25: Foundational changes, sustainable gains
FOUNDATIONAL CHANGES SUSTAINABLE GAINS • • • • • • • •
Slide 26: Recruitment of new customers and retention
DRIVING RECRUITMENT OF NEW CUSTOMERS • • • • • INCREASING RETENTION AND LIFETIME VALUE OF • EACH CUSTOMER •
Slide 27: Tapestry's differentiated platform provides
TAPESTRY’S DIFFERENTIATED PLATFORM PROVIDES:
Slide 28: Overview by Brand
| Overview by Brand
Slide 29: Coach
ee AF, COAC NEW YORK
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Slide 31: Courage to be real
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 32: Coach key facts
$4.9B NET SALES 945 DIRECTLY OPERATED STORES 50+ COUNTRIES 10,800 EMPLOYEES
Slide 33: Coach Revenue Breakdown
Coach Revenue Breakdown Direct to consumer focused brand with diversified product categories & geographies Other Lifestyle Rest of Wholesale, Categories, 10% World, 5% 10% Other Asia, Women’s Women's 14% handbags Accessories, 19% Women's Greater Handbags, China, North 52% 18% America, 63% Direct to
Slide 34: Coach FY23 Growth Strategies
Coach FY23 Growth Strategies EXPAND CUSTOMER DRIVE GROWTH IN INFUSE BRAND REACH & INCREASE ACCELERATE KEY INVEST IN DIGITAL CORE NARRATIVE INTO CUSTOMER CATEGORIES AND CHINA LEATHERGOODS MESSAGING LIFETIME VALUE • Recruit new • Build equity in iconic • Fuel Men’s through DIGITAL • Lead with purpose
Slide 35: Kate Spade
kate spade NEW YORK
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Slide 37: Joy Colors Life
JOY COLORS LIFE 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
Slide 38: Kate Spade key facts
$1.4B NET SALES 398 DIRECTLY OPERATED STORES 40+ COUNTRIES 4,500 EMPLOYEES
Slide 39: Kate Spade Revenue Breakdown
Kate Spade Revenue Breakdown Opportunity to maximize core handbag offering, while building upon positioning as lifestyle brand Greater Wholesale, Rest of China, 3% World, 7% 11% Women's Accessories, Other Asia, 21% 10% Other Women's Lifestyle Handbags, Categories, 57% North America, Direct to Consum
Slide 40: Kate Spade FY23 Growth Strategies
Kate Spade FY23 Growth Strategies DELIVER DISTINCTIVE FUEL EMOTIONAL DRIVE CUSTOMER LEATHERGOODS ACCELERATE LIFESTYLE POWER OF THE BRAND LIFETIME VALUE OFFERING & COMMUNITY • Enhance • Capitalize on • Continue to reactive • Invest in marketing distinctiveness by positioning as a and engage existing
Slide 41: Stuart Weitzman
STUART WEITZMAN
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Slide 43: Stuart Weitzman shoes are designed for high fashion and high function
Stuart Weitzman shoes are designed for high fashion and high function. Known for over 35 years for its artisanal Spanish craftsmanship and precisely-engineered fit, the luxury footwear brand inspires women around the world to shine with confidence with every step.
Slide 44: Stuart Weitzman key facts
$318M NET SALES 100 DIRECTLY OPERATED STORES 35+ COUNTRIES 800 EMPLOYEES
Slide 45: Stuart Weitzman FY23 Growth Strategies
STUART WEITZMAN FY23 GROWTH STRATEGIES SPARK DESIRE ACCELERATE FURTHER WITH HIGH- CREATE BRAND CHINA; CONTINUE INCREASE IMPROVE EMOTION HEAT TO GROW NORTH DIGITAL REVENUE PROFITABILITY PRODUCT AMERICA • Design high-emotion • Drive awareness with • Capture customer • Build omni-luxury • Continue to b
Slide 46: Stuart Weitzman Revenue Breakdown
STUART WEITZMAN REVENUE BREAKDOWN Remain focused on key geographies & channels with a compelling footwear assortment Rest of World, 11% Wholesale, Greater 34% China, Direct to North 29% Consumer, America, 60% 66% Footwear, 100%
Slide 47: Our Social Fabric: Corporate Responsibility Strategy & 2025 Goals
Slide 48: Our Social Fabric Strategy
tapestry Our Social Fabric Strategy OUR PEOPLE We aim to bolster Tapestry’s purpose and culture by embedding equity, inclusion and diversity throughout our organization, holding our leaders accountable for our equity, inclusion and diversity goals and attracting and retaining talent with a compellin
Slide 49: Our People: 2025 Goals
Our People 2025 Goals Increase the number of North America-based ethnic minority leaders to better reflect the company’s general corporate population. Reduce gender and ethnicity differences in the Employee Inclusion Index scores from our Employee Engagement Survey. Demonstrate a focus on career pro
Slide 50: Our Planet: 2025 Goals
2025 Goals Achieve a 20% reduction in absolute Scope 1 & Scope 2 CO2 emissions & 20% reduction in absolute Scope 3 emissions from freight shipping over a 2017 baseline. Attain a 95% traceability & mapping of our raw materials to ensure a ‘ent Highlights transparent & responsible supply chain. Recent
Slide 51: Our Communities: 2025 Goals
Our Communities 2al at a time. 2025 Goals Dedicate 100,000 volunteer service hours completed by our employees around the globe Give $75M in financial and product donations to nonprofit organizations globally. Provide 100,000 people crafting Coach, Kate Spade and Stuart Weitzman products access to em
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52 © 2022 Tapestry, Inc.
Slide 53: Non-GAAP financial measures note
tapestry <m 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 p
Slide 54: GAAP to non-GAAP reconciliation, quarter ended July 2, 2022
GAAP to non-GAAP reconciliation For the quarter ended July 2, 2022 © 2022 Tapestry, Inc. in millions, except per share data; unaudited Coach Kate Spade Stuart Weitzman Gross profit(”) Coach Kate Spade Stuart Weitzman Corporate Selling, general and administrative expenses Coach Kate Spade Stuart Weit
Slide 55: GAAP to non-GAAP reconciliation, quarter ended July 3, 2021
GAAP to non-GAAP reconciliation For the quarter ended July 3, 2021 © 2022 Tapestry, Inc. in millions, except per share data; unaudited Coach Kate Spade Stuart Weitzman Gross profit(”) Coach Kate Spade Stuart Weitzman Corporate Selling, general and administrative expenses Coach Kate Spade Stuart Weit
Slide 56: FY21 14th Week Impact on Results
FY21 14" Week Impact on 04 Results (Non-GAAP) © 2022 Tapestry, Inc. NON-GAAP BASIS in millions, except per share data; unaudited (EXCLUDING ITEMS) Net revenue $1,615.4 Gross profit 1,158.0 Selling, general and administrative expenses 885.5 Operating Income 272.5 EPS 0.7% (1) Adjustmentswithin Gross
Slide 57: GAAP to non-GAAP reconciliation, year ended July 2, 2022
GAAP to non-GAAP reconciliation For the year ended July 2, 2022 © 2021 Tapestry, Inc. in millions, except per share data; unaudited Coach Kate Spade Stuart Weitzman Gross profit Coach Kate Spade Stuart Weitzman Corporate Selling, general and administrative expenses Coach Kate Spade Stuart Weitzman C
Slide 58: GAAP to non-GAAP reconciliation, year ended July 3, 2021
GAAP to non-GAAP reconciliation For the year ended July 3, 2021 © 2022 Tapestry, Inc. in millions, except per share data; unaudited Coach Kate Spade Stuart Weitzman Gross profit Coach Kate Spade Stuart Weitzman Corporate Selling, general and administrative expenses Coach Kate Spade Stuart Weitzman C
Slide 59: Thank you
a0 ae BE tapestry COACH | kate spade | STUART WEITZMAN ~ wh ©