Luxury handbag retailer to change its name
Eager to better reflect the company’s increasing diversity, Coach is changing its name.
Coach will become Tapestry Inc., on Oct. 31. The company, which owns the brands Coach, Kate Spade New York and Stuart Weitzman, will continue to define itself as a New York-based house of modern luxury lifestyle brands.
The decision came on the heels of the company’s acquisitions of Stuart Weitzman in 2015 and Kate Spade & Company this past summer. However, this transition has been three years in the works, according to Coach’s CEO, Victor Luis.
“Three years ago we laid out our vision to transform Coach, and announced our intention to grow beyond the Coach brand,” Luis said.
“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, all leveraging our strong operational foundation,” he said. “Each of our brands has a unique proposition, fulfilling different fashion sensibilities and emotional needs within the very attractive and growing $80 billion global market for premium handbag and accessories, footwear and outerwear. At the same time, our brands are also built upon the shared values of optimism, inclusivity and innovation.”
The leadership team at Coach partnered with brand agency Carbone Smolan Agency on all aspects of the rebrand, the company said.
When searching for a new name, Coach wanted something that reflected its values. It also wanted to express the cultural diversity of the company and its brands today, as well as in the future, the company said.
“In Tapestry, we found a name that speaks to creativity, craftsmanship, authenticity and inclusivity on a shared platform and values,” Luis said.
“We believe that Tapestry can grow with our portfolio and with our current brands as they extend into new categories and markets,” he added. “The name embodies our creative brand-led and consumer-focused business, while also representing the deep heritage of the group. 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.”
To further reflect the transition, the company will change its New York Stock Exchange ticker symbol from COH to TPR on Oct. 31. The company’s Hong Kong Depositary Receipts are traded on The Stock Exchange of Hong Kong Limited under the symbol 6388.
Coach will become Tapestry Inc., on Oct. 31. The company, which owns the brands Coach, Kate Spade New York and Stuart Weitzman, will continue to define itself as a New York-based house of modern luxury lifestyle brands.
The decision came on the heels of the company’s acquisitions of Stuart Weitzman in 2015 and Kate Spade & Company this past summer. However, this transition has been three years in the works, according to Coach’s CEO, Victor Luis.
“Three years ago we laid out our vision to transform Coach, and announced our intention to grow beyond the Coach brand,” Luis said.
“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, all leveraging our strong operational foundation,” he said. “Each of our brands has a unique proposition, fulfilling different fashion sensibilities and emotional needs within the very attractive and growing $80 billion global market for premium handbag and accessories, footwear and outerwear. At the same time, our brands are also built upon the shared values of optimism, inclusivity and innovation.”
The leadership team at Coach partnered with brand agency Carbone Smolan Agency on all aspects of the rebrand, the company said.
When searching for a new name, Coach wanted something that reflected its values. It also wanted to express the cultural diversity of the company and its brands today, as well as in the future, the company said.
“In Tapestry, we found a name that speaks to creativity, craftsmanship, authenticity and inclusivity on a shared platform and values,” Luis said.
“We believe that Tapestry can grow with our portfolio and with our current brands as they extend into new categories and markets,” he added. “The name embodies our creative brand-led and consumer-focused business, while also representing the deep heritage of the group. 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.”
To further reflect the transition, the company will change its New York Stock Exchange ticker symbol from COH to TPR on Oct. 31. The company’s Hong Kong Depositary Receipts are traded on The Stock Exchange of Hong Kong Limited under the symbol 6388.