Coach Inc. as you knew it will soon be no more. In its place will be a new brand called Tapestry. Buzz60’s Elizabeth Keatinge’s has more.
Coach Inc., the iconic New York purveyor of leather goods, is changing its corporate name to Tapestry Inc., a bid to broaden its image after acquiring the Kate Spade and Stuart Weitzman brands.
The new moniker will take effect at the end of the month, and Coach also will change its stock symbol to TPR from COH.
“We are now at a defining moment in our corporate reinvention,” Chief Executive Officer Victor Luis said Wednesday in a statement. “In Tapestry, we found a name that speaks to creativity, craftsmanship, authenticity and inclusivity on a shared platform.”
The fashion house is building a multi brand company at a time when the handbag industry is facing waning demand and retailers are struggling with declining traffic at brick-and-mortar stores. Coach bought Kate Spade earlier this year and shoemaker Stuart Weitzman in 2015 to grow into a broader lifestyle company.
The Coach brand isn’t going anywhere, even as the company changes its corporate identity. But executives are striving to show that they aren’t dependent on the Coach business to fuel growth. The name was partly aimed at reducing the confusion that consumers have over the Coach and Kate Spade brands, Luis said in an interview.
Video by Buzz60/Elizabeth Keatinge[/vc_message]
Disclaimer
The information contained in South Florida Reporter is for general information purposes only.
The South Florida Reporter assumes no responsibility for errors or omissions in the contents of the Service.
In no event shall the South Florida Reporter be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in an action of contract, negligence or other tort, arising out of or in connection with the use of the Service or the contents of the Service. The Company reserves the right to make additions, deletions, or modifications to the contents of the Service at any time without prior notice.
The Company does not warrant that the Service is free of viruses or other harmful components
