Luxury retailer Coach introduces new name: Tapestry

Luxury retailer Coach introduces new name: Tapestry

Coach, which purchased luxury shoe retailer Stuart Weitzman in 2015 and Kate Spade earlier this year, will re-image itself under the name Tapestry (Tapestry Inc.) in an effort to unify the three brands under one umbrella.

"This is freaky & a strategy departure".

Coach's name change, which takes effect October 31, is the latest in a long line of corporate rebranding efforts, some more successful than others.

Former Nordstrom and Hudson's Bay executive Andrea Wasserman, for example, tweeted, "This is freaky & a strategy departure".

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

Luis added that the management had been thinking about changing the company's corporate name for a while, but made the decision to change it after the acquisition of Kate Spade.

While Coach found a strategy around it, namely rebranding and utilizing pop star Selena Gomez as the face of the brand, Michael Kors is now fighting a similar battle.

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According to the company's Chief Executive Officer Victor Luis, "We are now at a defining moment in our corporate reinvention". "It's really about creating a new corporate identity for Coach as a house of brands".

Coach Inc., founded in 1941 in NY, was once a status symbol among luxury shoppers.

Coach Inc (NYSE:COH) announced that the company is changing its name to Tapestry.

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

Coach, however, lost some shine in recent years in part due to the financial recession and increased online shopping.

"The Coach and Kate Spade and Stuart Weitzman brands are very distinct brands and entities that have consumers with different attitudes and styles", he said.

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

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