The lines between the CFO and COO are increasingly blurring. Scott Roe sits squarely at that intersection at Tapestry, the parent company of Coach and Kate Spade, and (until its recent sale) Stuart Weitzman, overseeing both capital allocation and day-to-day operations. His dual role suggests how Tapestry thinks about strategy: investing in the portfolio and operating the business are part of the same conversation.
That philosophy helps explain why two of Tapestry’s biggest strategic moves, which appeared to point in opposite directions, actually followed the same playbook.
In 2023, Tapestry announced its $8.5 billion bid to acquire Capri Holdings, the owner of Michael Kors, Versace, and Jimmy Choo, in a deal that would have reshaped the accessible luxury landscape. After the FTC blocked the acquisition in late 2024, Tapestry terminated the transaction. Several months later, the company sold Stuart Weitzman, a brand it had owned since 2015.
An expansion followed by a divestiture may look inconsistent. Roe sees both decisions through the same lens: What can Tapestry uniquely bring to an asset that another owner cannot?
The company’s interest in Capri fit neatly within that framework. Michael Kors occupies a similar role in Capri’s portfolio to Coach within Tapestry, creating overlap in leather goods, customer insights, and operating capabilities. By Roe’s measure, the strategic alignment was clear.
Stuart Weitzman presented a different equation. While Roe describes it as a strong brand, premium footwear has never been one of Tapestry’s deepest institutional strengths. If the company could not create differentiated value as an owner, the strategic case weakened.
It reflects a broader shift in corporate strategy. Scale alone is no longer enough. Increasingly, management teams are expected to explain why they are uniquely positioned to own an asset, not simply whether they can.
The same thinking underpins Tapestry’s conviction in Kate Spade, even as Coach continues to outperform and Kate Spade works through a turnaround. Roe views the brand’s softer performance as part of a customer transition. More price-sensitive shoppers are moving away from the brand while younger consumers with higher lifetime value are beginning to replace them. Those shifts rarely happen in a straight line, but his confidence comes from Kate Spade’s position in a large leather goods market where Tapestry has decades of expertise.
Perhaps the more revealing takeaway from my conversation with Roe had nothing to do with brands or acquisitions.
One piece of professional advice Roe wishes he had learned earlier is the importance of building a clear professional brand. Leaders often pride themselves on being low ego, but he argues that many fail to communicate what they stand for and the value they create. When he joined Tapestry, he intentionally defined himself around mergers and acquisitions, international growth, and the development of executive talent.
Such a framework is about making one’s contribution visible, rather than self-promotional, he clarifies, adding that in a corporate world where careers increasingly span multiple companies, reputation is something leaders must build deliberately.
Watch the full video interview here.
Ruth Umoh
ruth.umoh@fortune.com
Smarter in seconds
Social distancing. Apple’s next CEO will oversee a $4 trillion tech giant, but isn’t on LinkedIn. Can today’s leaders still skip social media?
Finish line. The CEO using AI to double revenue with 1,000 fewer hires: ‘Nobody’s going to replace the last mile’
Small biz bonanza. Shark Tank’s Kevin O’Leary says if he were 25 today, he’d chase these two booming opportunities in the world of AI
Listen & learn. How David Senra built the podcast the world’s most powerful CEOs can’t stop listening to
Leadership lesson
Scott Roe on building influence inside a company: “In a corporate environment, you also have to self advocate, and you have to build your brand, and so one of my most common questions is: What is your brand? What are you known for?”
News to know
JPMorgan’s once-promising pipeline of female CEO successors has unraveled as its top female contenders exit the race. Fortune
Trump’s Independence Day speech honored veterans but also struck an unusually partisan tone, promoting his election reforms, gun rights, and anti-communist agenda. Fortune
Deutsche Bank’s former CFO, who helped lead its turnaround, is leaving this month with his sights set on a CEO role. WSJ
AI labs are increasingly hiring philosophy majors for their critical thinking and ethical reasoning skills, turning an overlooked degree into a sought-after asset. NYT
One of America’s richest families’ electrical manufacturing fortune is set to grow, thanks to AI data centers driving demand for its products. Forbes
Bending Spoons has built a $23 billion tech empire by acquiring and reviving struggling digital brands, culminating in a Nasdaq listing. FT
Nike’s latest earnings results suggest its turnaround remains out of reach, with self-inflicted missteps continuing to undermine its recovery. Fortune
Credit: Source link
