Tapestry, Inc. (NYSE:TPR), a leading New York-based house of modern
luxury accessories and lifestyle brands, today announced that Darrell
Cavens has been appointed to Tapestry’s Board of Directors. The
appointment of Mr. Cavens to the Board brings the membership to eleven.
Victor Luis, Chief Executive Officer of Tapestry, Inc., said, "We are
extremely pleased that Darrell Cavens has agreed to join our Board. As
we continue to further develop our digital strategy across our portfolio
of brands, Darrell’s deep experience in online retailing, technology and
data analytics will be invaluable assets."
"The Tapestry Board seeks to bring a diversity of experiences and
perspectives to our deliberations. We are delighted to have found a true
digital innovator and entrepreneur in Darrell," said Jide Zeitlin,
Chairman of the Board of Tapestry, Inc. "I am certain he will bring
important and unique insights to our conversation as Tapestry navigates
an increasingly dynamic retail environment."
Darrell Cavens became President, New Ventures for the Qurate Retail
Group in December 2017. In this role, Mr. Cavens leads a team
responsible for driving innovative retail concepts and looking beyond
the Qurate Retail Group’s current business for additional growth
opportunities, through internal innovation, strategic partnerships,
joint ventures and acquisitions.
Mr. Cavens was previously President and Chief Executive Officer of
zulily, which he co-founded. Under his leadership, zulily secured
private funding of $85 million, launched in January 2010, went public in
November 2013, and was acquired by Liberty Interactive Corporation in
October 2015, joining the QVC Group in a transaction that was one of the
largest e-Commerce acquisitions in history. In 2017, zulily generated
$1.6 billion in revenue.
Before co-founding zulily, Mr. Cavens spent a year at Microsoft leading
the BizTalk Server business and almost a decade at Blue Nile, where he
was Chief Technology Officer and Senior Vice President of Marketing.
Previously, he was at Starwave, a Seattle-based internet company,
working on large web properties including ESPN.com and ABCNews.com.
Upon his appointment, Mr. Cavens said, "I am excited to be joining the
Board of Directors of Tapestry, a truly innovative, brand led company. I
look forward to supporting the company and helping to inform its digital
strategies as it continues to drive long-term sustainable growth."
Tapestry, Inc. is a New York-based house of modern luxury lifestyle
brands. The Company’s portfolio includes Coach, Kate Spade and Stuart
Weitzman. Our Company and our brands are founded upon a creative and
consumer-led view of luxury that stands for inclusivity and
approachability. Each of our brands are unique and independent, while
sharing a commitment to innovation and authenticity defined by
distinctive products and differentiated customer experiences across
channels and geographies. To learn more about Tapestry, please visit www.tapestry.com.
The Company’s common stock is traded on the New York Stock Exchange
under the symbol TPR.
This information to be made available in this press release may
contain forward-looking statements based on management's current
expectations. Forward-looking statements include, but are not limited
to, statements that can be identified by the use of forward-looking
terminology such as "may," "will," "can," "should," "expect," "intend,"
"estimate," "continue," "project," "guidance," "forecast," "anticipate,"
"evolve," "moving," "leveraging," "developing," "driving," "targeting,"
"assume," "plan," "pursue," "look forward to," "achieve" or comparable
terms. Future results may differ materially from management's current
expectations, based upon a number of important factors, including risks
and uncertainties such as expected economic trends, the ability to
anticipate consumer preferences, the ability to control costs and
successfully execute our operational efficiency initiatives and growth
strategies and our ability to achieve intended benefits, cost savings
and synergies from acquisitions, the impact of tax legislation, etc.
Please refer to the Company’s latest Annual Report on Form 10-K, its
Quarterly Report on Form 10-Q for the period ended December 30, 2017 and
its other filings with the Securities and Exchange Commission for a
complete list of risks and important factors. The Company assumes no
obligation to revise or update any such forward-looking statements for
any reason, except as required by law.
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