Coach Inc (COH) Changes Name to … Tapestry?

Coach Inc (COH) Changes Name to … Tapestry?

To better incorporate all of the brands it now owns, the storied Coach company of NY is changing its name to Tapestry.

The decision to change its corporate name was made after its 2017 acquisition of smaller rival Kate Spade, Luis explained.

Former Nordstrom and Hudson's Bay executive Andrea Wasserman, for example, tweeted, "This is freakish & a strategy departure. Dying to know the logic", Andrea Wasserman, a former Nordstrom and Hudson's Bay executive, wrote on Twitter following the news.

The individual retail brands will retain their own names and equity and the Group now reflects a multi-brand integrated operation, with an expertise in textiles and craftsmanship.

Here are a couple of other Tweets in reaction to Coach's name change.

Coach, Inc. will become Tapestry, the end of the month.

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Consumers took to social media to express their outrage following the announcement, but soon realized the brand names were not changing - only the corporate name was.

The new name works, says Luis, because it "wasn't too corporate-y or made up, that was easy for everyone to understand".

Coach, however, lost some shine in recent years in part due to the financial recession and increased online shopping.

The fashion house is building a multibrand company at a time when the handbag industry is facing waning demand and retailers are struggling with declining traffic at brick-and-mortar stores.

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.

The company's common stock traded on the New York Stock Exchange will change their symbol from COH to TPR starting October 31.