Latest news with #GenZ-focused
Fashion Network
a day ago
- Business
- Fashion Network
Coach parent Tapestry invests in Gen Phoenix to scale sustainable leather
Tapestry Inc., the New York–based parent company of Coach and Kate Spade, will invest $15 million in Gen Phoenix, a UK-based recycled leather innovator, to expand its sustainable materials strategy across its fashion portfolio, the companies told Reuters. The deal raises Tapestry's stake in Gen Phoenix to 9.9%, signaling a deeper commitment to circular fashion. The investment aligns with the company's broader sustainability ambitions and its focus on attracting Generation Z — those born between 1997 and 2012 — who increasingly prioritize eco-conscious fashion. The partnership began in 2022 with the launch of Coach's Gen Z-focused Coachtopia line, which features products designed with at least 50% recycled leather fibers made from waste supplied by Gen Phoenix, according to the company's website. Scott Roe, Tapestry's chief financial and chief operating officer, said Coachtopia serves as an indicator of younger consumers' shopping behavior. 'It's not that Coachtopia is so commercially massive, but it is helping us understand what's important to this really critical demographic,' he said. Roe declined to disclose Coachtopia's share of total earnings, noting only that it remains 'relatively small.' Gen Phoenix estimates its materials have an 80% lower carbon footprint compared to virgin leather. The companies previously collaborated on an uncoated lining material that Coachtopia brought to market in under a year, said Elyse Winer, chief marketing officer at Gen Phoenix. As part of the investment, Gen Phoenix — which sources waste materials from European tanneries and factories — will supply recycled leather to Tapestry for three years. Gen Phoenix CEO John Kennedy said the company looks forward to working across all Tapestry brands. Roe added that the potential applications of recycled materials across the business remain broad: 'There's a lot of opportunities to redirect a lot of that waste stream,' he said. © Thomson Reuters 2025 All rights reserved.
Fashion Network
a day ago
- Business
- Fashion Network
Coach parent Tapestry invests in Gen Phoenix to scale sustainable leather
Tapestry Inc., the New York–based parent company of Coach and Kate Spade, will invest $15 million in Gen Phoenix, a UK-based recycled leather innovator, to expand its sustainable materials strategy across its fashion portfolio, the companies told Reuters. The deal raises Tapestry's stake in Gen Phoenix to 9.9%, signaling a deeper commitment to circular fashion. The investment aligns with the company's broader sustainability ambitions and its focus on attracting Generation Z — those born between 1997 and 2012 — who increasingly prioritize eco-conscious fashion. The partnership began in 2022 with the launch of Coach's Gen Z-focused Coachtopia line, which features products designed with at least 50% recycled leather fibers made from waste supplied by Gen Phoenix, according to the company's website. Scott Roe, Tapestry's chief financial and chief operating officer, said Coachtopia serves as an indicator of younger consumers' shopping behavior. 'It's not that Coachtopia is so commercially massive, but it is helping us understand what's important to this really critical demographic,' he said. Roe declined to disclose Coachtopia's share of total earnings, noting only that it remains 'relatively small.' Gen Phoenix estimates its materials have an 80% lower carbon footprint compared to virgin leather. The companies previously collaborated on an uncoated lining material that Coachtopia brought to market in under a year, said Elyse Winer, chief marketing officer at Gen Phoenix. As part of the investment, Gen Phoenix — which sources waste materials from European tanneries and factories — will supply recycled leather to Tapestry for three years. Gen Phoenix CEO John Kennedy said the company looks forward to working across all Tapestry brands. Roe added that the potential applications of recycled materials across the business remain broad: 'There's a lot of opportunities to redirect a lot of that waste stream,' he said.
Fashion Network
a day ago
- Business
- Fashion Network
Coach parent Tapestry invests in Gen Phoenix to scale sustainable leather
Tapestry Inc., the New York–based parent company of Coach and Kate Spade, will invest $15 million in Gen Phoenix, a UK-based recycled leather innovator, to expand its sustainable materials strategy across its fashion portfolio, the companies told Reuters. The deal raises Tapestry's stake in Gen Phoenix to 9.9%, signalling a deeper commitment to circular fashion. The investment aligns with the company's broader sustainability ambitions and its focus on attracting Generation Z — those born between 1997 and 2012 — who increasingly prioritise eco-conscious fashion. The partnership began in 2022 with the launch of Coach's Gen Z-focused Coachtopia line, which features products designed with at least 50% recycled leather fibres made from waste supplied by Gen Phoenix, according to the company's website. Scott Roe, Tapestry's chief financial officer and chief operating officer, said Coachtopia serves as an indicator of younger consumers' shopping behaviour. 'It's not that Coachtopia is so commercially massive, but it is helping us understand what's important to this really critical demographic,' he said. Roe declined to disclose Coachtopia's share of total earnings, noting only that it remains 'relatively small.' Gen Phoenix estimates its materials have an 80% lower carbon footprint compared to virgin leather. The companies previously collaborated on an uncoated lining material that Coachtopia brought to market in under a year, said Elyse Winer, chief marketing officer at Gen Phoenix. As part of the investment, Gen Phoenix — which sources waste materials from European tanneries and factories — will supply recycled leather to Tapestry for three years. Gen Phoenix CEO John Kennedy said the company looks forward to working across all Tapestry brands. Roe added that the potential applications of recycled materials across the business remain broad: 'There's a lot of opportunities to redirect a lot of that waste stream,' he said. ($1 = £0.74)
Fashion Network
a day ago
- Business
- Fashion Network
Coach parent Tapestry invests in Gen Phoenix to scale sustainable leather
Tapestry Inc., the New York–based parent company of Coach and Kate Spade, will invest $15 million in Gen Phoenix, a UK-based recycled leather innovator, to expand its sustainable materials strategy across its fashion portfolio, the companies told Reuters. The deal raises Tapestry's stake in Gen Phoenix to 9.9%, signaling a deeper commitment to circular fashion. The investment aligns with the company's broader sustainability ambitions and its focus on attracting Generation Z — those born between 1997 and 2012 — who increasingly prioritize eco-conscious fashion. The partnership began in 2022 with the launch of Coach's Gen Z-focused Coachtopia line, which features products designed with at least 50% recycled leather fibers made from waste supplied by Gen Phoenix, according to the company's website. Scott Roe, Tapestry's chief financial and chief operating officer, said Coachtopia serves as an indicator of younger consumers' shopping behavior. 'It's not that Coachtopia is so commercially massive, but it is helping us understand what's important to this really critical demographic,' he said. Roe declined to disclose Coachtopia's share of total earnings, noting only that it remains 'relatively small.' Gen Phoenix estimates its materials have an 80% lower carbon footprint compared to virgin leather. The companies previously collaborated on an uncoated lining material that Coachtopia brought to market in under a year, said Elyse Winer, chief marketing officer at Gen Phoenix. As part of the investment, Gen Phoenix — which sources waste materials from European tanneries and factories — will supply recycled leather to Tapestry for three years. Gen Phoenix CEO John Kennedy said the company looks forward to working across all Tapestry brands. Roe added that the potential applications of recycled materials across the business remain broad: 'There's a lot of opportunities to redirect a lot of that waste stream,' he said.
Fashion Network
a day ago
- Business
- Fashion Network
Coach parent Tapestry invests in Gen Phoenix to scale sustainable leather
Tapestry Inc., the New York–based parent company of Coach and Kate Spade, will invest $15 million in Gen Phoenix, a UK-based recycled leather innovator, to expand its sustainable materials strategy across its fashion portfolio, the companies told Reuters. The deal raises Tapestry's stake in Gen Phoenix to 9.9%, signaling a deeper commitment to circular fashion. The investment aligns with the company's broader sustainability ambitions and its focus on attracting Generation Z — those born between 1997 and 2012 — who increasingly prioritize eco-conscious fashion. The partnership began in 2022 with the launch of Coach's Gen Z-focused Coachtopia line, which features products designed with at least 50% recycled leather fibers made from waste supplied by Gen Phoenix, according to the company's website. Scott Roe, Tapestry's chief financial and chief operating officer, said Coachtopia serves as an indicator of younger consumers' shopping behavior. 'It's not that Coachtopia is so commercially massive, but it is helping us understand what's important to this really critical demographic,' he said. Roe declined to disclose Coachtopia's share of total earnings, noting only that it remains 'relatively small.' Gen Phoenix estimates its materials have an 80% lower carbon footprint compared to virgin leather. The companies previously collaborated on an uncoated lining material that Coachtopia brought to market in under a year, said Elyse Winer, chief marketing officer at Gen Phoenix. As part of the investment, Gen Phoenix — which sources waste materials from European tanneries and factories — will supply recycled leather to Tapestry for three years. Gen Phoenix CEO John Kennedy said the company looks forward to working across all Tapestry brands. Roe added that the potential applications of recycled materials across the business remain broad: 'There's a lot of opportunities to redirect a lot of that waste stream,' he said.
