Goodbye Coach - The Luxury Company is Changing Its Name

Goodbye Coach - The Luxury Company is Changing Its Name

Goodbye Coach - The Luxury Company is Changing Its Name

The New York-based company acquired luxury shoe retailer Stuart Weitzman for $574 million in 2015 and bought Kate Spade & Co., known for its colorful and kitschy handbags, for $2.4 billion earlier this year.

"This is weird & a strategy departure".

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

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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". Yes, a tapestry is a woven cloth made of various threads that combine to form a handsome picture or whatever; that's a lofty goal for your holding company, sir, but it's a really dumb name! "With that evolution we made the decision to change our corporate name to Tapestry Inc. with the objective to create a platform for our shared values and to avoid any confusion between the company and any specific names and the belief that the brands would meld together".

Coach bags, accessories and stores will continue to carry the brand name.

In the case of Coach, the new name reflects a new corporate structure.

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

Coach Inc. also owns Kate Spade and Stuart Weitzman, making it the preferred holding company and one stop shop for upwardly mobile professional women who like practical work purses, "fun" weekend satchels, and steps into her black suede Legends when she wants to feign empowerment. But in recent years, the oversaturation of Coach bags at outlet shops and malls across the USA has caused the company to lose some of its footing with falling sales and profits.

" Time Warner had a reputation for poor service", said Bob Killian, the founder of Killian Branding, referring to the cable company that changed its name to Spectrum after its 2016 acquisition by Charter Communications Inc.

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

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