Slide 1: Tapestry
tapestry
Slide 2: Forward-looking statements
tapestry <= 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 What’ 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: Competitive Advantages
COMPETITIVE ADVANTAGES Iconic Brands Attractive Categories Omni-Channel Leadership Global Platform Talented Team
Slide 6: Iconic Brands
Iconic Brands COACH STUART WEITZMAN kate spade NEW YORK ran aa
Slide 7: Attractive Categories
Attractive Categories We play in GROWING & HIGH-MARGIN CATEGORIES Personal Premium Goods by ~$370B FY25E (6% to 8% CAGR vs. FY22) Personal Premium Goods $295B Handbags, SLGs, FTW & Apparel $195B Handbags, SLGs & FTW Tapestry FY22 © 2022 Tapestry, Inc. Global market sourced from Euromonitor FY22, Bai
Slide 8: Diversified Model with Omni-Channel Leadership
Diversified Model with Omni-Channel Leadership REVENUE BY CATEGORY FOOTWEAR & OTHER LIFESTYLE 17% WOMEN'S ACCESSORIES 19% MEN'S 14% * High-growth, high-margin categories + Resilient & durable demand given emotional & functional need these categories fulfill © 2022 Tapestry, Inc. Figures as of FY22.
Slide 9: Designed to drive consumer engagement
designed to drive consumer engagement
Slide 10: Talented Team
Talented Team Consumer-centric leadership team with a proven track record Joanne Crevoiserat Scott Roe Todd Kahn Liz Fraser Giorgio Sarné Noam Paransky CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER & CEO & BRAND PRESIDENT CEO & BRAND PRESIDENT CEO & BRAND PRESIDENT CHIEF OMNI & CHIEF OPERATING OFF
Slide 11: Q1 FY23 Overview & FY23 Outlook
il Q23 Overview & FY23 ED:
Slide 12: CEO quote on first quarter results
tapestry <m “Our first quarter results demonstrate the strength of our iconic brands, the agility of our operating model, and the consistent execution of our global teams. Our unwavering focus on the consumer, commitment to innovation, and operational discipline will enable us to advance our strateg
Slide 13: Record first quarter revenue and highlights
ACHIEVED A RECORD DROVE REVENUE GROWTH OF DROVE INTERNATIONAL SALES GAIN OF $1.5 billion 5% 11% IN FIRST QUARTER REVENUE ON A CONSTANT CURRENCY BASIS ON A CONSTANT CURRENCY BASIS DELIVERED EARNINGS FUELED RETURNED PER SHARE OF AUR growth $0.79 $175 million 8% ABOVE PRIOR YEAR ON A IN OUR CORE CATEGO
Slide 14: Revenue Trends by Geography: 1Q23
tapestry <= Revenue Trends by Geography: 1Q23 © 2022 Tapestry, Inc. All growth rates on a constant currency basis. 14
Slide 15: P&L Overview by Brand: 1Q23
P&L Overview by Brand: 1Q23 NET REVENUE GROSS PROFIT SG&A EXPENSES OPERATING INCOME EARNINGS PER DILUTED SHARE © 2022 Tapestry, Inc. TAPESTRY $1.51B +5% vs. LY $1.05B 70.0% margin $800M 53.1% of sales $254M 16.9% margin +8% vs. LY excluding the impact of currency tapestry <= $1.12B +h% vs. LY $470M
Slide 16: Coach Highlights: 1Q23
a, — Coach Highlights: 1Q23 ¢ Achieved revenue growth of 4% in constant currency; drove an increase in overall spend per customer and purchase frequency ¢ Fueled a mid-single-digit constant currency gain in global handbag AUR, including an increase in North America, through our compelling and innova
Slide 17: Kate Spade Highlights: 1Q23
a= Kate Spade Highlights: 1Q23 + Delivered revenue growth of 10% at constant currency, fueled by gains in both North America and International * Amplified key handbag platforms, with continued outperformance in our number one Knott family; launched new styles, including Boxxy and Katy, that have out
Slide 18: Stuart Weitzman Highlights: 1Q23
Stuart Weitzman Highlights: 1Q23 * Advanced brand strategy to win with heat by sparking consumer desire with high-emotion product and compelling assortments * Realized outperformance in the Stuart family collection of pumps and boots, which was launched earlier in the calendar year; Delivered outsiz
Slide 19: Returned $175 million to shareholders in 1Q23
RETURNED $175 MILLION TO SHAREHOLDERS IN 1Q23 + Repurchased $100 million in Tapestry’s common stock + Returned $75 million to shareholders through Tapestry remains our dividend program committed to creating EXPECT $1.0 BILLION IN SHAREHOLDER shareholder value RETURNS IN FY23 * Repurchase of $700 mil
Slide 20: Full year FY23 outlook
tapestry <= Maintained full year earnings outlook on a currency neutral basis despite the volatile external environment REVENUE $6.5 billion to $6.6 billion REVENUE GROWTH 2% to 4% on a constant currency basis; slight decline on a reported basis due to 450 basis points of FX pressure GROSS MARGIN is
Slide 21: Long-Term Growth Strategy
Loney ae Growth Strategy Bee Pa me © 2022 Tapestry, Inc. 2
Slide 22: 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 © 2022 Tapestry, Inc. 22
Slide 23: Record revenue, operating margin, EPS
RECORD REVENUE OPERATING MARGIN EPS
Slide 24: Strategic Growth Pillars
Strategic Growth Pillars BUILD LASTING CUSTOMER RELATIONSHIPS © 2022 Tapestry, Inc. FUEL FASHION INNOVATION & PRODUCT EXCELLENCE DELIVER COMPELLING OMNI-CHANNEL EXPERIENCES POWER GLOBAL GROWTH 26
Slide 25: Fuel customer lifetime value
© 2022 Tapestry, nc. TO FUEL CUSTOMER LIFETIME VALUE, WE WILL LEVERAGE OUR TRANSFORMED BUSINESS MODEL TO: ACQUIRE REACTIVATE NEW, DRIVE pes YOUNGER RETENTION cues CUSTOMERS 25
Slide 26: Continued growth in core, with gains in footwear & lifestyle
ee. il CONTINUED GROWTH IN OUR CORE, WITH OUTSIZED GAINS IN FOOTWEAR & LIFESTYLE FUEL FASHION INNOVATION & REVENUE BY CATEGORY PRODUCT EXCELLENCE FOOTWEAR & ~20% FOOTWEAR) penetration LIFESTYLE 18% penetration HANDBAGS & SLGS HANDBAGS & ~80% SL6S penetration 82% penetration FY22 FY25E © 2022 Tapestr
Slide 27: Digital and stores revenue growth to reach $2.6B in FY25
DIGITAL STORES Fuel a high-single-digit Drive a mid-single-digit revenue CAGR revenue CAGR TO REACH $2.6B IN FY25 AT HIGHER PROFITABILITY © 2022 Tapestry, Incgesote-CAGR refers to growtttegg FY22 Actual to FY25lestimate, 27
Slide 28: Continued runway in key regions
with AUR & unit opportunity CONTINUED RUNWAY IN KEY REGIONS ~ North America mid-single-digit CAGR » Greater China low double-digit CAGR » Japan low-single-digit CAGR © 2022 Tapestry, Inc. Note: CAGR refers to revenue growth from FY22 Actual to FY25 estimate. Balanced growth across geographies, FURTH
Slide 29: Focus positions Tapestry for growth and cash generation
Our intentional focus positions Tapestry for continued growth and significant cash generation REVENUE EARNINGS PER SHARE CUMULATIVE RETURN OF 6% TO 7% LOW TO MID-TEENS CAGR VS. FY22 CAGR VS. FY22 TO SHAREHOLDERS © 2022 Tapestry, Inc. Note: Non-GAAP financials (full reconciliation in appendix). 29
Slide 30: Balanced, profitable growth across our brands
We will drive balanced, profitable growth across our brands COACH kate spade NEW YORK STUART WEITZMAN IN REVENUE IN REVENUE IN REVENUE ~30% OPERATING MARGIN MID-TEENS OPERATING HIGH-SINGLE-DIGIT MARGIN OPERATING MARGIN © 2022 Tapestry, Inc. Note: Non-GAAP financials (full reconcitiation in appendix)
Slide 31: Capital priorities
Capital priorities focused on driving organic growth, profitability and shareholder value 1 2 3 REINVEST CAPITAL TO MAINTAIN M&A IN THE BUSINESS FLEXIBILITY SHAREHOLDERS © 2022 Tapestry, Inc. 31
Slide 32: Overview by Brand
OETIIEE by Brand — © 2022 Tapestry, Inc. 32
Slide 33: Coach
COACH
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Slide 35: 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 36: Coach key facts
$4.9B NET SALES 945 DIRECTLY OPERATED STORES 50+ COUNTRIES 10,800 EMPLOYEES
Slide 37: Coach Revenue Breakdown
Coach Revenue Breakdown Direct to consumer focused brand with diversified product categories & geographies WOMEN’S ACCESSORIES 19% GREATER OTHER CHINA LIFESTYLE 18% 10% DIRECT TO WOMEN’S NORTH CONSUMER HANDBAGS AMERICA Channel Category Geography 90% 52% 63% OTHER MEN’S ASIA 19% 14% WHOLESALE 10% RES
Slide 38: Coach FY25 Growth Strategies
Coach FY25 Growth Strategies BRAND BUILDING TO CONNECT INNOVATION THAT ENCOURAGES DIGITAL TO OMNI-CHANNEL EMOTIONALLY SELF-EXPRESSION EXPERIENCE • Lead with purpose to engage our • Grow women’s leather goods by • Drive seamless omni-channel target audience continuing to build equity in iconic experi
Slide 39: Kate Spade New York
kate spade NEW YORK
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Slide 41: 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 42: Kate Spade key facts
$1.4B NET SALES 398 DIRECTLY OPERATED STORES 40+ COUNTRIES 4,500 EMPLOYEES
Slide 43: Kate Spade Revenue Breakdown
Kate Spade Revenue Breakdown Opportunity to maximize core handbag offering, while building upon positioning as lifestyle brand WOMEN’S ACCESSORIES 21% GREATER CHINA WOMEN’S DIRECT TO HANDBAGS NORTH 3% CONSUMER AMERICA Channel 57% Category Geography 89% OTHER LIFESTYLE 80% OTHER ASIA 10% 22% WHOLESAL
Slide 44: Kate Spade FY25 Growth Strategies
Kate Spade FY25 Growth Strategies MORE EMOTIONAL MORE LIFESTYLE MORE GLOBAL • Create emotional product with style • Capitalize on positioning as a lifestyle • Grow North America, grow other innovation brand regions faster • Invest in marketing that amplifies the • Drive growth in jewelry, footwear a
Slide 45: Stuart Weitzman
STUART WEITZMAN
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Slide 47: Stuart Weitzman celebrates women who stand strong
Slide 48: Stuart Weitzman key facts
As of FY22. NET SALES DIRECTLY OPERATED STORES COUNTRIES EMPLOYEES 48
Slide 49: Stuart Weitzman Revenue Breakdown
STUART WEITZMAN REVENUE BREAKDOWN REMAIN FOCUSED ON KEY GEOGRAPHIES & CHANNELS WITH A COMPELLING FOOTWEAR ASSORTMENT FOOTWEAR 100% NORTH AMERICA 60% CATEGORY GEOGRAPHY REST OF WORLD 1% © 2022 Tapestry, Inc. As of FY22. CHANNEL, DIRECT TO CONSUMER 66% 49
Slide 50: Stuart Weitzman FY25 Growth Strategies
STUART WEITZMAN FY25 GROWTH STRATEGIES BUILD EXCITING OMNI- CHANNEL EXPERIENCES SPARK CONSUMER DESIRE CREATE BRAND HEAT 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, ANCHOR
Slide 51: Corporate Responsibility
Corporate Responsi bility Ja me
Slide 52: 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 53: Our People
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 54: Our Planet Goals
125 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 transparent & responsible supply chain. Ensure that 90% of leat
Slide 55: Our Communities
Our Communities 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 empowerment prog
Slide 56: Appendix
APE © 2022 Tapestry, Inc. 56
Slide 57: Non-GAAP financial measures
tapestry <= 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 58: GAAP to non-GAAP reconciliation: quarter ended October 1, 2022
GAAP to non-GAAP reconciliation For the quarter ended October 1, 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 We
Slide 59: GAAP to non-GAAP reconciliation: year ended July 2, 2022
GAAP to non-GAAP reconciliation For the year 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 Weitzman
Slide 60: GAAP to non-GAAP reconciliation: year ended June 29, 2019
GAAP to non-GAAP reconciliation For the year ended June 29, 2019 © 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
Slide 61: Thank you
te tapestry COACH | kate spade | STUART WEITZMAN ~ wh ©