Published: Thu, October 12, 2017
Business | By Max Garcia

Coach Inc. Is Becoming 'Tapestry'

Coach Inc. Is Becoming 'Tapestry'

The luxury goods company that came to prominence in the "Mad Men" era now owns brands like Stuart Weitzman and Kate Spade & Co.as well.

"This is freakish & a strategy departure". Its Coach brand, incorporating handbags, womenswear and menswear lines, will remain unchanged.

Many, including former Nordstrom executive Andrea Wasserman, reacted negatively to the name change on social media.

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

"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. There are many things that are actual tapestries that, when held in comparison to Coach Inc.'s portfolio of brands, don't make a whole lot of sense: The Unicorn Tapestries.

Coach joins a growing list of corporations who have changed their names over the past few years. This included signing performer Selena Gomez as Coach brand ambassador in December 2016. Coach actually bought up Kate Spade to help buff its handbag options and Stuart Weitzman to expand a presence in shoes to broaden its lifestyle brands appeal. 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!

Coach Inc., founded in 1941 in NY, was once a status symbol among luxury shoppers.

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

The corporate name-change game has a new player: Coach Inc.is becoming Tapestry Inc., attempting to reflect the multiple brands, including Kate Spade, now under the company's umbrella. The new company will be a multi-brand, high-end retailer.

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

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