Coach, Inc. changes corporate name to Tapestry, Inc.
Victor Luis, Chief Executive Officer of Coach, Inc., said the company is at a defining moment in its corporate reinvention. Its recent acquisitions of Stuart Weitzman in 2015 and Kate Spade & Company this past summer have set the company on a journey to thrive in the changing retail landscape, and the group's renaming the company is the next step to gain deeper traction in the $80 billion global premium handbag and accessories market.
Luis said the name Tapestry reflects the company's modern values of inclusivity, creativity and craftsmanship. He said, “We searched for a name to reflect these values while also expressing the cultural diversity of our people and our brands for today and tomorrow." Luis noted that the name change is part of a larger corporate rebranding, adding, "We are establishing a strong and distinct corporate identity, which enables our brands to express their individual personalities and unique language to consumers.”
The company's leadership team partnered with brand agency Carbone Smolan Agency to iterate the new Tapestry, Inc. brand identity.
Coach, Inc. will officially become Tapestry, Inc. on October 31, 2017. Coach is currently traded on the New York Stock Exchange (NYSE) under the symbol COH. It will change its NYSE symbol to TPR at the end of this month as well.
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