Why Is Coach Changing Its Name?

The new company name Tapestry at the headquarters of former Coach Inc

Coach Inc., known for its leather purses and bags, has rebranded as Tapestry Inc.to better relate to consumers that it is more than just the products offered by Coach.

As for those "individual threads", Luis is referring to brands Kate Spade, Stuart Weitzman, and Coach, all of which are owned by Coach-Inc-turned-Tapestry. Under their "Quote of the Day" in today's edition, they posted: "It's a wonderful metaphor" - The CEO of Coach Inc. on changing the company's name to...

Coach, which was founded in a Manhattan loft in 1941, acquired Kate Spade for $2.4 billion in May and and purchased Stuart Weitzman for $574 million in 2015.

Three years ago, Coach laid its vision to transform the company and announced its intention to grow beyond the Coach brand.

"We are now at a defining moment in our corporate reinvention", Chief Executive Officer Victor Luis said in a statement. I hear Tapestry, I think upholstery not designer brand?

Coach noted that each of its brands are unique and independent, and are built upon the shared values of optimism, inclusivity and innovation.

The fashion house is building a multibrand company at a time when the handbag industry is facing waning demand and retailers are struggling with declining traffic at brick-and-mortar stores.

"It allows for further expansion and acquisition without being unduly tied to any one of their portfolio of brands", he added. In the end, the company was surprised that "Tapestry" wasn't taken by another brand.

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