Luxury bag maker Coach changing its name

Andrew Cummings
October 12, 2017

Say goodbye to Coach.and hello to Tapestry.

Coach, the brand famous for its handbags, is about to change its corporate name.

Resnick said that the Tapestry name was chosen partly because it's a reflection of the history and heritage of the Coach, Kate Spade and Stuart Weitzman brands.

"This is freaky & a strategy departure". The company is trying to regain its former glory buy buying new brands, keeping a tight lid on discounting and pulling back from department stores.

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

"Similarly, nonprofit digital content director J. Christian Bernabe derided, "$COH changing its name to 'Tapestry" is a frightful branding idea.

However, CEO Victor Luis noted that the social media reaction is knee-jerk and fans will eventually warm up to the new name. But, like everything else in this world that upends that which you've always known or held dear, the change will feel like a personal affront for about two seconds and then by tomorrow, or the next day, if we're all still alive, you'll always think of Coach Inc., parent company to your favorite brand of shoes and handbags, as Tapestry. And now executives have to pull double duty to show that they are not exclusively dependent upon the Coach brand to fuel business growth.

Coach, which was founded in a Manhattan loft in 1941, acquired Kate Spade for $2.4 billion in May and and purchased Stuart Weitzman for $574 million in 2015.

Coach, however, lost some shine in recent years in part due to the financial recession and increased online shopping. Tapestry will trade on the New York Stock Exchange under the symbol TPR-the current COH symbol will be retired. Shares of the company declined more than 3 percent to $38.77 in afternoon trading.

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