Tapestry (TPR) Boosts Stake in Gen Phoenix to Expand Eco-Leather Offerings

Tapestry, Inc. (NYSE:TPR) ranks among the best magic formula stocks to invest in. As part of a $15 million funding round, Tapestry, Inc. (NYSE:TPR) stated on July 15 that it will raise its stake of eco-leather manufacturer Gen Phoenix to 9.9% to aid the company in making more sustainably produced leather goods.

With this investment, Tapestry, Inc. (NYSE:TPR) nearly quadruples its ownership stake in the manufacturer. The company claimed that the partnership would assist it in reaching younger Gen Z consumers who are interested in sustainable leather products.

Back in 2022, Tapestry, Inc. (NYSE:TPR) and Gen Phoenix partnered to produce Coach’s Gen-Z-focused Coachtopia brand, which manufactures products using at least 50% recycled leather fibers from waste that is provided by Gen Phoenix.

Tapestry, Inc. (NYSE:TPR) is an American multinational fashion holding company that owns a number of leading fashion brands, particularly Coach, Kate Spade New York, and Stuart Weitzman. With its headquarters in New York, the company offers its products both directly and indirectly through licensing and wholesale companies.

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Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

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