Accessories business Coach Inc is to change its name to Tapestry Inc at the end of the month as part of its business transformation and bid to expand beyond the namesake brand.
In an announcement yesterday (11 October), the company said the name change will be effective from 31 October, with its portfolio including Coach, Kate Spade New York and Stuart Weitzman. The company’s common stock traded on the New York Stock Exchange under the symbol COH, will change to TPR.
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“Three years ago we laid out our vision to transform Coach and announced our intention to grow beyond the Coach brand,” explains CEO Victor Luis. “Through the execution of our strategic plan and with the acquisitions of Stuart Weitzman in 2015 and Kate Spade & Company just this summer, we have realised these goals. We are now at a defining moment in our corporate reinvention, having evolved from a mono-brand speciality retailer to a true house of emotional, desirable brands, all levering our strong operational foundation.”
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According to Luis, the new name embodies the group’s creative brand-led and consumer-focused business, while also representing its deep heritage.
“In Tapestry, we found a name that speaks to creativity, craftsmanship, authenticity, and inclusivity on a shared platform and values,” he adds. “As such, we believe that Tapestry can grow with our portfolio and with our current brands as they extend into new categories and markets.
Most importantly, we are establishing a strong and distinct corporate identity, which enables our brands to express their individual personalities and unique language to consumers.”
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