Coach chang­ing name to Ta­pes­try

The Mercury News - - Data - From The As­so­ci­ated Press

To bet­ter in­cor­po­rate all of the brands it now owns, the sto­ried Coach 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 like Stu­art Weitz­man and Kate Spade & Co. as well. CEO Vic­tor Luis said Wed­nes­day that the name Ta­pes­try is more in­clu­sive.

Coach ac­quired Stu­art Weitz­man in 2015 in a deal val­ued at up to $574 mil­lion. It spent $2.4 bil­lion 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,” Luis said in a com­pany re­lease.

A web­site with the new name, which be­comes of­fi­cial at the end of the month, is up and run­ning.

The change is part of Coach’s pur­suit of younger shop­pers who may not feel the same draw to store win­dows on Man­hat­tan’s Fifth Av­enue.

Coach be­gan as a small work­shop in Man­hat­tan in 1941, and be­came a fash­ion pow­er­house in the early 1960s through in­no­va­tive de­signs.

Coach will also be chang­ing its ticker sym­bol on the New York Stock Ex­change from “COH” to “TPR.” Shares of the com­pany de­clined al­most 3 per­cent to close Wed­nes­day at $38.87.

AS­SO­CI­ATED PRESS FILE

Shop­pers line up out­side a Coach fac­tory out­let store in Mon­roe, Ohio, in 2015. The sto­ried com­pany an­nounced Wed­nes­day that it is chang­ing its name to Ta­pes­try.

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