Having successfully transformed its flagship business and welcomed two new labels, Coach, Inc. is poised for one more big change.
“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, all leveraging our strong operational foundation,” said Victor Luis, CEO of Coach, Inc., adding the shared brand values are optimism, inclusivity and innovation.
Luis said the new name is a fitting representation of these brand values and is one that can grow with the company. The umbrella company, which owns the Coach, Stuart Weitzman and Kate Spade brands, will go by the moniker Tapestry, Inc. starting on October 31. The company’s stock will trade under TPR on the New York Stock Exchange.
“Our brands are approachable and inviting and create joy every day for people around the world,” according to the company’s new brand statement. “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.”
[Read more about the Coach expansion: Can Coach and Michael Kors Usher in the Rise of the American Fashion Conglomerate?]
The Coach brand will remain focused on “defining modern luxury” through craftsmanship, authenticity and innovation. In reinventing the brand over the last few years, the company put those concepts at the center of every aspect of its business.
Charm, color and graphics will remain at the heart of the newly acquired Kate Spade brand, which the company has said gives it a unique place in the market—one that resonates with millennials in particular. Luis has previously stated the company will take many of the same steps with Kate Spade that it did with Coach to help strengthen brand, product and distribution.
With Weitzman, Tapestry will continue to evolve the brand beyond shoes to multiple accessories categories. “The goal is to establish Stuart Weitzman as the accessories destination for every woman for every occasion,” company said.