12 Oct Coach to Tapestry
Sending shockwaves, Coach goes to Tapestry
It came as a huge surprise to many across the globe as the well known luxury brand name announced a name change of Coach to Tapestry.
Just as many others, we were shocked. A long-familiar name for luxury purses and accessories is deciding to change its name, but why?
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. - Coach CEO Victor Luis
The Coach brand, which has lured customers with its luxury line of clothing and accessories for years, has announced that its joining forces with two other well known labels under the parent name Tapestry. The mono-brand purchased the shoe retailer Stuart Weitzman in 2015 for $574 million and Kate Spade for $2.4 billion this past May, making way for what Coach Inc. CEO Victor Luis touts as a new “fashion house of emotional, desirable brands.”
What people around the world don’t pick up at first glance is that Coach will still produce and sell its namesake brand. The parent company, Coach Inc., will make its official move to Tapestry Inc on October 31, which will house all three brands.
Stock tickers are set to change as well at the end of the month from COH to TPR, so keep a close eye on those stocks as they are sure to fluctuate.
What are your thoughts on the rebranding? Did you hear about it already and gasp while clutching your pearls? ‘Cause we sure did. Coach is now becoming a true house of brand that is sure to continue in growth and tradition.
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