Published: Thu, October 12, 2017
Economy | By Annette Adams

Coach Changes Its Name to Tapestry

Coach Changes Its Name to Tapestry

The New York-based luxury company, most famous for its designer leather handbags, acquired Kate Spade New York last summer for $2.4 billion, along with the shoe and accessory company Stuart Weitzman in May 2015 for $574 million.

"This is freaky & a strategy departure".

To better incorporate all of the brands it now owns, the storied Coach company of NY is changing its name to Tapestry. "Dying to know the logic", Andrea Wasserman, a former Nordstrom and Hudson's Bay executive, wrote on Twitter after the announcement was made.

The derision kept coming as people questioned and even mocked the move.

Tapestry Inc. sets out to encompass all those high-end brands under on umbrella but each brand will still have it's own individual voice.

"We are now at a defining moment in our corporate reinvention, having evolved from a mono-brand specialty retailer to a true house of emotional, desirable brands", Luis said in a company release. And Selena Gomez will continue on as the celebrity ambassador.

As a name for a global fashion company, Tapestry is an interesting choice-and by interesting, I mean, confusing and slightly stupid.

In the case of Coach, the new name reflects a new corporate structure. "Tapestry is a name that is not rooted in any of these brands".

Coach Inc., founded in 1941 in NY, was once a status symbol among luxury shoppers. Tapestry will trade on the New York Stock Exchange under the symbol TPR-the current COH symbol will be retired.

Coach Inc. also owns Kate Spade and Stuart Weitzman, making it the preferred holding company and one stop shop for upwardly mobile professional women who like practical work purses, "fun" weekend satchels, and steps into her black suede Legends when she wants to feign empowerment.

Coach's shares were down 2.8 percent at $38.87 in afternoon trading.

Like this: