Tapestry, Inc. Revenue in 2024

Tapestry, Inc. reported $6.9B in revenue for fiscal year 2024. This represents a growth of 5.5% compared to the 2023 figure of $6.5B.

Tapestry generated $6.86 billion in FY2024 revenue, growing from $6.69 billion in FY2022 through $6.5 billion in FY2023 and recovering to $6.86 billion in FY2024 — a trajectory that reflects Coach brand momentum overcoming the strategic distraction and modest revenue decline of the Capri merger period. Net income of $612 million on $6.86 billion in revenue represents an 8.9% net margin. Operating income of approximately $750 million in FY2024 — an operating margin of roughly 11% — reflects the financial benefit of the direct-to-consumer channel concentration. Department store wholesale margins compress accessible luxury brands' economics; Tapestry's DTC focus captures the full retail margin on the majority of its revenue, producing operating margins that compare favorably to peers with heavier wholesale dependency. The $45 million Capri termination fee was a one-time charge that compressed FY2024 net income below the underlying run rate. The elimination of the acquisition's integration cost obligations — what would have been years of complex brand management across six brands in three different market segments — returns capital allocation focus to Coach's organic growth and the Kate Spade repositioning that was underway before the merger announcement. Market capitalization of approximately $11.5 billion on $6.86 billion in FY2024 revenue implies roughly 1.7x revenue — a valuation below the company's historical range that reflects investor uncertainty about the post-Capri strategy and whether Coach brand momentum can be sustained. The FY2021 revenue of $5 billion growing to $6.86 billion in FY2024 demonstrates the underlying commercial trajectory, but the multiple compression following the merger collapse has not fully reversed despite the operational evidence that the Coach business is performing well.