Tapestry Sets Hainan as Its Chinese Travel Retail Headquarters

By Wei Junfan / / Updated: 10:49,22-April-2022

  Apr.19,2022-- Tapestry, Inc. (NYSE: TPR), a leading New York-based house of modern luxury accessories and lifestyle brands, today signed a strategic cooperation agreement with Hainan International Economic Development Bureau and Haikou Comprehensive Bonded Zone Management Committee. Tapestry Group, whose portfolio includes the brands COACH, kate spade and Stuart Weitzman, announced that it has officially established the group's China Tourism Retail Headquarters in Hainan Free Trade Port, further expand its business in this sector and continue to increase its investment in the port.

Tapestry China Tourism Retail Headquarters landed in Hainan Free Trade Port

  Han Shengjian, Director General of Hainan International Economic Development Bureau said, “With the accelerated construction of Hainan Free Trade Port, Hainan will surely embrace a promising future. That Tapestry established the group’s China Tourism Retail Headquarters in Hainan marks its upcoming new phase of development in the port. Hainan International Economic Development Bureau will next coordinate with Haikou Comprehensive Bonded Zone to offer support and service to Tapestry’s layout across the island and the construction of Hainan as a center of international tourism consumption.”

  Lu Min, member of Haikou Standing Committee, deputy mayor of Haikou, Secretary of Working Committee & director of Management Committee of Haikou Comprehensive Bonded Zone, “Haikou and Tapestry have formed a close bond during the 1st China International Consumer Products Expo, laying foundation for the following in-depth cooperation. Haikou will fully support Tapestry to fuel the innovative consumption upgrade, explore digital transformation and expand omni-channel services. ”

  “With the ongoing development and improvement of the construction of the Hainan Free Trade Port, the Hainan market continues to unleash vigorous growth momentum, which is consistently optimizing the business environment. This has attracted our interest and encouraged us to make great strides.” said Yann Bozec, President of Tapestry Asia Pacific and President & CEO of Coach China. “Tapestry China Tourism Retail Headquarters has officially opened in Hainan. For us, this is an important milestone marking a new chapter in the rapid development of our travel retail business in China. In the future, we hope to join hands with more partners to deepen our presence in the market and stimulate cooperation with forward-looking kinetic actions which can fully respond to consumers' yearning for a more personalized and better lifestyle.”

Tapestry, Hainan International Economic Development Bureau and Haikou Comprehensive Bonded Zone Management Committee signed strategic cooperation agreement

  New Playing Field: Deepening growth in the Hainan market and using cooperation to open up new win-win outcomes

  Tapestry China Tourism Retail Headquarters will coordinate the layout, planning and investment of the Group's travel retail business across the country. The Group will give full play to its own advantages, actively integrate resources, strengthen its talent pool and technological innovation, and continue to bolster the development of tourism and duty-free markets. With the encouragement of a series of favorable policies and the support of many parties, this strategic cooperation has also ushered in a new playing field of development for Tapestry in Hainan. We will expand our journey of growth together, boost the construction of Hainan as a center of international tourism consumption, and contribute to the development of China's tourism retail industry.

  New Growth: Actively increase presence in the Hainan market, renew and upgrade the consumption experience

  Focusing on the Hainan market, Tapestry has always adhered to be consumer-centric and continued to explore offering exclusive products and market activities inspired by Hainan to present more innovation opportunities. The Group also actively participates in the China International Consumer Products Expo held in Haikou and looks forward to getting to know and meet more partners through this important platform to promote the transformation and upgrading of China's fashion industry. Based on this cooperation, the group will further expand its business footprint in Hainan, actively build a local operations team, and hold a variety of activities in Hainan including innovative promotional campaigns, public welfare activities and tourism consumption events. We are committed to forging ahead with omni-channel development and layout and bringing cutting-edge products and unique consumer experiences to consumers.

  

Tapestry, with its brands COACH, kate spade and Stuart Weitzman at the 1st China International Consumer Products Expo

COACH’s exclusive pop-up store at Atlantis Sanya Hotel

  New Future: Practicing sustainable development and building a better way of life

  While expanding its presence in the market and renewing the consumption experience, Tapestry also hopes to promote meaningful and positive changes through this cooperation, and help drive the development of the Hainan market and China's tourism duty-free sector in a more sustainable way. By focusing on the sustainable development goals of the Group, Tapestry will vigorously promote public welfare activities in Hainan while practicing green concepts, and is committed to building a better lifestyle for consumers, the industry and the local community.

  A new journey that takes big strides on the road ahead. In the future, Tapestry will seek to join hands with more partners, actively embrace the construction of the Hainan Free Trade Port, further deepen its growth in the Hainan market, make concerted efforts to accelerate the establishment of an industry ecosystem, help the high-quality development of China's tourism retail industry, and continue to create more outstanding value.

  About Tapestry, Inc.Our global house of brands unites the magic of Coach, kate spade new york and Stuart Weitzman. Each of our brands are unique and independent, while sharing a commitment to innovation and authenticity defined by distinctive products and differentiated customer experiences across channels and geographies. We use our collective strengths to move our customers and empower our communities, to make the fashion industry more sustainable, and to build a company that’s equitable, inclusive, and diverse. Individually, our brands are iconic. Together, we can stretch what’s possible. To learn more about Tapestry, please visit www.tapestry.com. The Company’s common stock is traded on the New York Stock Exchange under the symbol TPR.

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