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Coach to Tapestry: Luxury Brand Changes Its Name

Image: Coach to Tapestry: Luxury Brand Changes Its Name
A woman walks past Coach bags in a window of Macy's flagship store, May 12, 2017, in the Herald Square neighborhood in New York City. (Drew Angerer/Getty Images)

Wednesday, 11 Oct 2017 06:12 PM

Luxury goods company Coach is changing its name to Tapestry to better incorporate all of the brands it now owns, including Stuart Weitzman and Kate Spade & Co.

CEO Victor Luis said Wednesday the name Tapestry is more inclusive, The Associated Press reported.

Coach acquired Stuart Weitzman in 2015 in a deal valued 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 5th Avenue.

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

Coach Inc. 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.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
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Luxury goods company Coach is changing its name to Tapestry to better incorporate all of the brands it now owns, including Stuart Weitzman and Kate Spade & Co.
coach, tapestry, change, name
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2017-12-11
Wednesday, 11 Oct 2017 06:12 PM
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