Tapestry, Inc. (NYSE:TPR) shares were largely unchanged during early Tuesday trading, following an announcement that underscores the company’s ongoing sustainability efforts.
Gen Phoenix, a leader in eco-friendly recycled leather fibers, revealed a renewed multi-year collaboration with Tapestry, home to legacy fashion names like Coach, Kate Spade, and Stuart Weitzman.
The agreement includes a fresh investment from Tapestry in Gen Phoenix’s $15 million Series round and a committed three-year supply partnership.
Also Read: Coach Bags A 32% Upside, But Kate Spade Lags Behind In Tapestry’s Playbook
The luxury group has now increased its ownership stake in Gen Phoenix to 9.9%, a near fourfold jump from its initial 2023 position.
Gen Phoenix is a leading sustainable materials company that uses a patented, revolutionary circular process to rescue leather offcuts, and soon post-consumer waste, from landfills.
These materials are regenerated into premium recycled leather, which is durable, beautiful, and has a significantly lower carbon footprint than traditional leather.
First initiated in 2022, the collaboration between Gen Phoenix and Tapestry has matured into a strategic alliance built around material research, design integration, and factory-level collaboration.
Rather than remaining a conventional vendor relationship, this partnership now serves as a case study in how legacy brands can co-develop scalable, sustainable solutions without compromising their signature aesthetics.
According to Gen Phoenix CEO John Kennedy, “This expanded partnership marks a major milestone, not just for Gen Phoenix, but for the future of sustainable materials.”
Tapestry’s increased stake in Gen Phoenix not only deepens its commitment to sustainability but also enhances its supply chain resilience and aligns with the preferences of environmentally-conscious consumers. Scott Roe, Tapestry’s Chief Financial and Operating Officer, emphasized that the collaboration aims to meet the demands of modern shoppers while preserving the brand’s craftsmanship DNA.
For Gen Phoenix, the new capital infusion supports several initiatives, expanding into global markets, enhancing production at its U.K. facility capable of generating over 60 million square feet of material annually, and accelerating development of fully circular leather solutions using post-consumer waste.
As high-end fashion increasingly leans into “luxcycling”, a movement blending tradition with next-gen material science, this strengthened partnership demonstrates how luxury houses can scale eco-forward practices.
Tapestry and Gen Phoenix are setting a new standard for sustainable leather alternatives in an evolving retail landscape.
Price Action: TPR shares are trading higher by 0.43% to $101.99 premarket at last check Tuesday.
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