Coach Inc changes name to Tapestry as it repositions as luxury brand house
Coach Inc has rebranded as Tapestry Inc as it seeks to position itself as a luxury brand house following the recent acquisitions of Kate Spade New York and Stuart Weitzman.
The New York-based business unveiled the new branding today and said from 31 October it will trade on the New York Stock Exchange under the new ticker of TPR.
In a statement the business said: "Our brands are approachable and inviting and create joy every day for people around the world. Defined by quality, craftsmanship and creativity, the brands that make up our house give audiences around the world the opportunity for exploration and self-expression."
Flagship brand Coach was founded in 1941 in New York City, today it is headed up by British creative director Stuart Vevers and CEO and brand president Joshua Schulman who was recently appointed to the post having previously been president at US luxury department store Bergdorf Goodman. The role was previously held by Victor Luis who stepped up to take on the role of CEO of Coach Inc, and now Tapestry Inc.
In 2015 Coach acquired footwear brand Stuart Weitzman and earlier this year it bought smaller rival Kate Spade New York for $2.4bn. It was reportedly interested in buying British luxury footwear brand Jimmy Choo (Schulman had once been its CEO) earlier this year, but that business was acquired by Michael Kors.