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Tapestry, Inc. (TPR) is a leading New York-based luxury fashion house, renowned for its portfolio of iconic brands, including Coach, Kate Spade, and Stuart Weitzman. With a market capitalization of $15.4 billion, the company designs and markets a wide array of premium lifestyle products, such as handbags, footwear, jewelry, apparel, eyewear, fragrances, and watches.
Companies valued at $10 billion or more are generally described as “large-cap” stocks and Tapestry fits right into that category. Tapestry is committed to craftsmanship, innovation, and sustainability, offering stylish and functional products that resonate with modern consumers worldwide. Its global presence and emphasis on brand heritage position it as a key player in the luxury retail industry.
Shares of TPR just touched their 52-week high of $66.47 in the last trading session. The luxury company has soared 37.4% over the past three months, outpacing behind the broader Kraneshares Global Luxury Index ETF’s (KLXY) 6.3% decline over the same time frame.
TPR stock has climbed 58.3% over the past six months, surpassing KLXY’s 2.7% fall. Moreover, shares of TPR have rallied 79.1% over the past 52 weeks, significantly outperforming KLXY’s 6.4% plunge over the same time period.
Since early September, TPR has maintained a position above its 200-day and 50-day moving averages, signaling a bullish trend.
TPR's strong performance over the past year has been fueled by its successful strategy to broaden its consumer base, particularly by attracting younger customers through fostering emotional connections with its brands.
On November 14, Tapestry shares surged over 12%, leading the S&P 500 gainers, after announcing the termination of its $8.5 billion planned merger with Capri Holdings Ltd due to objections from U.S. antitrust regulators.
TPR’s outperformance becomes more evident compared to its rival, PVH Corp. (PVH), which has dropped 12.7% over the past 52 weeks.
Despite TPR’s outperformance over the past year, analysts remain cautiously optimistic about its prospects. The stock has a consensus rating of “Moderate Buy” from the 20 analysts covering the stock, and the stock currently hover above its mean price target of $64.11.
