In a recent interview with CNBC, the CEO of Tapestry, Victor Luis revealed some of the changes happening behind its diversified multi-brand model, including an ambitious growth initiative that encompasses significant investments in systems and infrastructure. Check out the video below:
According to Tapestry’s quarterly filings, Victor Luis stated, "We've also continued to make progress on building a scalable shared services model, including investments in systems and infrastructure to support our current and future growth initiatives. Earlier this month, after over two years of designing, building and testing, we deployed the first phase of our ERP implementation SAP's S/4HANA, successfully migrating our global finance functions for Tapestry, Coach and Stuart Weitzman with Kate Spade to follow during the third quarter".
The bottom line - if Tapestry is to enjoy sustainable growth, it needs a strong, core platform that will tie in all processes, finances and other peripheral systems. And that’s what Tapestry has done with the implementation of S/4HANA for Fashion and Vertical Business. It's what every bold, forward thinking brand should do.