Coach changing name to Tapestry
To better incorporate all of the brands it now owns, the storied
Coach Inc. company of New York is changing its name to Tapestry.
The luxury-goods company that came to prominence in the Mad Men era now owns brands such as Stuart Weitzman and Kate Spade & Co. as well. Chief executive officer Victor Luis said on Wednesday that the name Tapestry is more inclusive.
Coach acquired Stuart Weitzman in 2015 in a deal valued up to $574-million (U.S.). It spent $2.4billion for Kate Spade this year, seeking to broaden its appeal. The Coach brand of bags and other goods is alive and well, but it becomes one of three brands sold by the company that will be called Tapestry.
“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,” Mr. Luis said in a company release. –