Tapestry Inc. (NYSE: TPR) has been awarded a U.S. patent for Mira, an artificial intelligence platform that connects data across the company to facilitate enterprise-wide decision-making. The patent covers the core system architecture and represents Tapestry's first AI patent and second technology patent overall.

Mira works alongside Tapestry's patented Global Data Fabric to connect data sources from across the company and perform analysis to surface insights for decision-making. The platform reduces analysis time from days to seconds or minutes, according to the company statement.

Tapestry teams are using Mira for assortment planning, inventory management, and responding to consumer trends. The platform was designed by Tapestry's Data and Analytics team with input from business partners across the company.

"Our teams bring deep expertise, human judgement and creativity; Mira provides business intelligence to help our teams move with speed and agility," said Fabio Luzzi, Chief Data and Analytics Officer at Tapestry.

The AI platform includes role-based access controls and operates within a secure enterprise ecosystem. Mira was built with retail and fashion terminology and learns from institutional knowledge, distinguishing it from off-the-shelf AI tools, the company stated.

"We're an 85-year-old fashion company harnessing cutting-edge innovation and technology," said Joanne Crevoiserat, Chief Executive Officer of Tapestry. "Mira is a powerful tool that puts business insights into the hands of decision makers across the company."

Tapestry is a global accessories and lifestyle company that owns the Coach and kate spade new york brands.