Coach Parent Tapestry Ups Investment In Recycled Leather Pioneer Gen Phoenix

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 ...