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Yahoo
20 hours ago
- Business
- Yahoo
Elyce Arons, Cofounder and CEO of Frances Valentine, Reflects on Friendship With Kate Spade, Success of Frances Valentine and New Book
On the eve of the release of her new book, 'We Might Just Make It After All' (Gallery Books, an imprint of Simon & Schuster) Elyce Arons held court at the Hotel Chelsea Monday night talking about her current business, Frances Valentine, and her long-standing friendship with Kate Spade, with whom she founded the multibillion-dollar fashion company, Kate Spade. Arons and Spade became best friends in college (The University of Kansas and Arizona State University) and eventually moved to New York where they started a line of handbags — ultimately transforming the accessories industry. The Kate Spade brand was eventually sold to Neiman Marcus Group, Liz Claiborne Inc., and ultimately Tapestry Inc., where it lives today. More from WWD How Tapestry Drives Adaptable Digital Journeys With Technology Joanne Crevoiserat Touts 'Step Change' in Tapestry Growth Madison Beer Falls in Love With Friendship in Kate Spade New York's Valentine's Day Collection 2025 Gift Guide Arons and Spade ended up starting another brand, Frances Valentine, in 2016 but Spade died of suicide in 2018. Asked what prompted her to write this book about their long-standing friendship, Arons told WWD, 'It's taken me this long to actually get to a point where I could, but I feel like everyone remembers Katy for how she left us, but not how wonderful and funny and gracious she was. Most people don't because she was pretty shy…..I just feel like I want people to know the great times we had. I mean she was the funniest person you'd ever want to meet.' Arons wrote the book with her husband, Andy Arons. Arons said that after they sold the Kate Spade brand, she and Spade went on to found Frances Valentine with a group of investors. Andy Spade, Kate's husband, is Arons' business partner. While Arons stayed pretty low profile in the ensuing years, the business has been experiencing some impressive gains. Frances Valentine, which has mostly focused on the direct-to-consumer channel, is up 40 percent this year, according to Arons. Frances Valentine's e-commerce is up 284 percent this month-to-date. After COVID-19, Frances Valentine launched the apparel division and brought in a new vice president, who came from Zanella. Today, Frances Valentine sells such retailers as Neiman Marcus, Saks Fifth Avenue, and Nordstrom (all online), as well as Dillards, where it's available in-store, as well as and the brand's freestanding stores. She declined to disclose the company's volume figure. At present, apparel represents 60 percent of the business, and accessories account for 40 percent. She explained that the business has been primarily e-commerce-driven since they started. They now have nine retail stores, which have been doing well. The breakdown is now 50 percent e-commerce, 30 percent retail and 20 percent wholesale. 'And wholesale and retail are growing really fast,' said Arons. Frances Valentine's nine stores are on Madison Avenue and 73rd Street; Sag Harbor, N.Y.; Dallas; Houston; Palm Beach and Naples, Fla.; Birmingham, Ala.; Atlanta, and Alexandria, Va. Cities they're considering for expansion are Nashville; Charlotte, N.C., and Chicago, as well as various cities in California. Describing the Frances Valentine customer, Arons said, 'I think it's a woman who really appreciates individual style. She likes to wear color, and I think that's why a lot of our business is concentrated in the South, and she likes prints. And there's a nostalgic feel to our brand because Katy [Spade] and I were such huge vintage shoppers. We just created these silhouettes that are pieces that you buy today and you want to pull out of your closet 10 years from now, and not feel like it's out of style. They're not trend driven at all. We're the opposite of fast fashion.' Arons said she like to describe the line as 'modern vintage.' 'We put pockets in everything. We make sizes from extra small up to extra large,' she said. Arons said she's part of the three-person design team. While Arons said she doesn't sketch, she said they always 'make what we like.' Arons said they took an eight-year break before they launched Frances Valentine. 'So when we came back, we were like, 'we know how to do this,' We'll do the whole thing again.' But she said that when they sold Kate Spade, they didn't have much of an e-commerce business, and it was just one person sitting in a corner doing e-commerce. 'So when we started Frances Valentine, we knew we had to build data. What we didn't realize was how much the wholesale business had changed and e-commerce had taken over so much, and how influencers had taken over from editors.' The business started in 2014 and was launched in 2016. William McComb, former CEO of Liz Claiborne Inc. (renamed Fifth & Pacific Cos.), is a board adviser. The company makes their collections all over the world. The handbags are made in Italy and Asia, the knits are done in Peru, the denim is made in Turkey and the wovens in India. They also produce some things in the U.S. The sweet spot for dresses is $398. Turning to opportunities for Frances Valentine, Arons said they just had a very successful collaboration with Caddis eyewear, which sold out in 48 hours. They're looking into licensing deals for jewelry, footwear, fragrance, eyewear and home. Best of WWD Macy's Is Closing 66 Stores in 2025 — Here's the List, Live Updates Inside the Demise of Lord & Taylor COVID-19 Spikes Elevate Retail Concerns
Yahoo
09-05-2025
- Business
- Yahoo
Tapestry, Inc. (TPR): Among the Cheap ESG Stocks to Buy According to Hedge Funds
We recently compiled a list of the . In this article, we are going to take a look at where Tapestry, Inc. (NYSE:TPR) stands against the other cheap ESG stocks. These days, it seems like everyone wants to wear the 'saving the world' cape. Whether this urge to make a real impact on the world stems from a desire to ride the social trend wave or simply out of genuine concern is, well, a debate for another day. For now, let's focus on the fact that all companies must adhere to Corporate Social Responsibility (CSR) by law. In other words, ESG companies are those that incorporate Environmental, Social, and Governance factors into their operations and decision-making. This framework is utilized to measure an organization's practices and performance on sustainability and ethical grounds. In capital markets, some investors employ ESG criteria to assess companies and make their investment decisions accordingly, a practice known as ESG investing. While investing delivers financial returns, ESG investing offers both financial returns and societal impacts, and that's what is most valued by some investors. Some believe ESG investing is aligned with reduced risk exposure, stakeholder interests, and superior returns. Not only attractive in theory, but there are reports that back this form of investing. For instance, the Sustainability Megatrends Report by Cushman & Wakefield reveals that ESG companies are gaining traction from institutional investors. A survey of 250 institutional investors indicated that around 60% noted higher performance yield from ESG investments, and 78% were willing to pay higher premiums for these funds. 'Institutional investors are showing increased demand for properties with strong ESG-related management and activities,' the report underscores. A US SIF "Trends Report" reveals that out of the US market size of $52.5 trillion, $6.5 trillion (12%) is identified as a sustainable or ESG investment. Having said that, as many as 73% of respondents believe the sustainable investment market will grow over the next few years. Therefore, community investing continues to shine with rising enthusiasm across several types of investors. ESG companies are mainly ranked by third-party ranking agencies based on how well they perform across Environmental, Social, and Governance indicators. Using standardized metrics, proprietary models, and disclosures, the companies are then assessed and compared. Among the most notable agencies are MSCI, Sustainalytics (by Morningstar), Refinitiv ESG Scores, and S&P Global ESG Scores. In this analysis, we have used the ratings by Sustainalytics, which covers over 15,000 firms across 42 industries globally. The firm recently disclosed its 2025 list of ESG Top-Rated Companies, identifying Global 50 Top-Rated companies and other regional and industry leaders. Given this, we will take a look at some of the best ESG stocks to consider. We have compiled a list of 11 companies ranked by Sustainalytics (by Morningstar) in its recent ESG Top-Rated Companies report. From the report, we identified companies with a forward P/E less than 15, extracted from FINVIZ. From there, we picked companies with the highest number of hedge fund investors, as per Insider Monkey's database of Q4 2024. From less preferred to highly preferred, according to hedge funds, the selected stocks are listed in either the global, regional, or industry standings in the report. At Insider Monkey, we are obsessed with hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A close-up of diverse group of people wearing the company's small leather goods. Number of Hedge funds holding: 57 Forward P/E as of May 06, 2025: 13.90 Tapestry, Inc. (NYSE:TPR) is a global house of leading fashion brands, particularly Coach, Kate Spade New York, and Stuart Weitzman. Headquartered in New York, the company offers its products directly and indirectly via wholesale and licensing businesses. The enterprise claims to use its strengths to empower communities and make the fashion industry more sustainable, equitable, inclusive, and diverse. It is among the best cheap stocks to buy. Serving as a hub for iconic fashion brands, Tapestry, Inc. (NYSE:TPR) maintains a circularity strategy that supports three key principles, namely mitigating waste and pollution, circulating products, and restoring nature. The Coach segment of the business has a The Coachtopia Catalyst Fund that, through the partnership with 1% for the Planet, contributes 1% of the revenue generated to support emerging climate leaders, including Black Girl Environmentalist, Earth Guardians, and Maya's Ideas 4 the Planet. The company has taken scaling measures for environmentally favored raw materials across its product range to minimize environmental impact. Tapestry, Inc. (NYSE:TPR) adopts an integrated approach to material sourcing driven by external standards and targeted partnerships that enhance transparency and reduce eco-challenges. With that being said, the company has made significant advancements in regenerative agriculture, recycled materials, and circular innovation. Tapestry, Inc. (NYSE:TPR) has also invested in Generation Phoenix, which is a U.K.-based company that utilizes wet blue leather offcuts to design a durable material. Following a 'Style, Performance, and Impact' framework, the powerhouse has partnered with Reset Carbon to build its Decarbonization Program (DCP) that supports as many as 18 suppliers with high energy, water, and carbon emissions to develop a roadmap for the facilities. This 2025, TPR plans to embed scoring into the supplier scoreboard, which includes social compliance scores. Thus, we have a positive reason to believe that TPR is indeed an ESG-conscious stock. Overall TPR ranks 8th on our list of cheap ESG stocks to buy according to hedge funds. While we acknowledge the potential of TPR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than TPR but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
08-05-2025
- Business
- Yahoo
Tapestry Tops Q3 Estimates and Raises Outlook Despite Difficult Backdrop
Tapestry Inc. — having turned the page after its Capri Holdings acquisition fell through — isn't letting any trade war or economic worries trip it up now. The Coach and Kate Spade parent beat fiscal third-quarter earnings and sales estimates and raised its outlook for the rest of its year, which ends in two months. More from WWD Coach Spotlights Soho Sneaker in Newest Campaign EXCLUSIVE: Storm Reid Joins Coach as the Brand's New Ambassador for Women's Fragrances 2025 WNBA Draft Orange Carpet Earns Coach $1.6 Million in Media Exposure; Paige Bueckers' Outfit Leads the Conversation Investors liked what they saw and sent shares of the company up 7.7 percent to $80.50 in premarket trading on Thursday. Tapestry's third-quarter net income increased 45.8 percent to $203.3 million, or 95 cents a share, from $139.4 million, or 60 cents, a year earlier. Adjusted earnings per share tallied $1.03 — 15 cents ahead of the 88 cents analysts forecast, according to Yahoo Finance. Sales for the quarter ended March 29 grew by 7 percent to $1.58 billion, better than the $1.53 billion analysts projected. Coach drove that gain, rising 13 percent to $1.29 billion, while Kate Spade fell 13 percent to $244.9 million and the soon to be divested Stuart Weitzman sank 18 percent to $46.2 million. 'Our third quarter outperformance reinforces our position of strength,' said Joanne Crevoiserat, chief executive officer of Tapestry, in a statement. 'We accelerated top and bottom-line growth and raised our outlook for the fiscal year, demonstrating the power of brand building and our connections with consumers around the world. Importantly, while the external backdrop is complex, our vision remains clear. We maintain a bias for action and will harness our competitive advantages, including our global scale, compelling value, and strong fundamentals, to adapt and win in any environment. We are confident in our future and the meaningful opportunity to deliver durable growth and shareholder value.' Tapestry now expects adjusted earnings per share of $5 this fiscal year, up from the $4.85 to $4.90 previously projected. Sales are set to increase 4 percent to about $6.95 billion, better than the 3 percent step up the company previously forecast. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-05-2025
- Business
- Yahoo
Coach owner Tapestry raises annual sales forecast
(Reuters) - Coach parent Tapestry on Thursday raised its fiscal 2025 revenue forecast for the third time, benefiting from limited exposure to Trump's sweeping tariffs and higher full-price sale of its popular Tabby handbags. The company expects annual revenue of about $6.95 billion, compared to its prior forecast of more than $6.85 billion issued in February.
Yahoo
07-02-2025
- Business
- Yahoo
Why Tapestry Inc. (TPR) Advanced on Thursday
We recently compiled a list of the In this article, we are going to take a look at where Tapestry Inc. (NYSE:TPR) stands against the other stocks. Wall Street's main indices ended mixed on Thursday, with the Dow Jones the sole decliner, losing 0.28 percent. In contrast, both the S&P 500 and the Nasdaq Composite registered gains, rising by 0.36 percent and 0.51 percent, respectively. Amid the earnings season, 10 companies saw significant increases in their valuations, thanks to stronger-than-expected earnings reports. Additionally, several firms enjoyed rallies fueled by newly secured deals. To come up with Thursday's biggest advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume. A close-up of diverse group of people wearing the company's small leather goods. Tapestry Inc. saw its share prices increase by 12 percent on Thursday to end at $82.2 apiece as investor sentiment was fueled by an optimistic business outlook for 2025. In a statement, Tapestry said it projects revenues to grow by 3 percent to more than $6.85 billion and earnings per share to jump between 13 to 14 percent to $4.85 to $4.9. In the fourth quarter of 2024, Tapestry, however, posted a weaker earnings performance, with net income dropping by 3.69 percent to $310.4 million from the $322.3 million reported in the same period last year. Gross profit increased by 7.38 percent to $1.6 billion from $1.49 billion year-on-year on the back of strong performance from its luxury brand Coach, with a 12.6 percent higher contribution at $697.4 million versus $619.2 million year-on-year. Overall TPR ranks 4th on our list of Thursday's biggest advancers. While we acknowledge the potential of TPR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than TPR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap. Disclosure: None. This article is originally published at Insider Monkey.
