ibusinesslines.com
ibusinesslines.com October 20, 2017


Coach Inc (COH) Changes Name to … Tapestry?

12 October 2017, 01:39 | Kelvin Horton

Wall Street shares start mixed in New York

Wall Street shares start mixed in New York

"$COH changing its name to "Tapestry" is a terrible branding idea".

The new name will be Tapestry Inc. and will incorporate all of three brands: Coach, Kate Spade and Stuart Weitzman, the latter two which were acquired this past summer.

Iconic luxury handbag maker Coach Inc risked Wall Street and social media ire on Wednesday by announcing a change of its corporate name to Tapestry Inc, as it evolves into a multi-brand upscale retailer. Shares of the company declined more than 2 percent to $39.11 in morning trading.

"This is freakish & a strategy departure. Dying to know the logic", Andrea Wasserman, a former Nordstrom and Hudson's Bay executive, wrote on Twitter after the announcement was made.

Coach joins a growing list of corporations who have changed their names over the past few years. Yes, a tapestry is a woven cloth made of various threads that combine to form a lovely picture or whatever; that's a lofty goal for your holding company, sir, but it's a really dumb name!


"At the end of the day some of the social media reaction is misplaced because people think we are changing the name of the Coach brand, which we are not doing", Luis told Reuters.

"The Coach and Kate Spade and Stuart Weitzman brands are very distinct brands and entities that have consumers with different attitudes and styles", he said.

As the company becomes a collective house of high-end products, Luis confirmed that all of the brands will retain their individual names. But in recent years, the oversaturation of Coach bags at outlet shops and malls across the US has caused the company to lose some of its footing with falling sales and profits.

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.



Other News

Trending Now

Does the IMAX standee for The Last Jedi feature a major spoiler?
Lenovo and Disney are tying up with UAE operator Etisalat to offer " Star Wars: Jedi Challenges", an augmented reality product. But the IMAX standee is the first time we've seen Luke actually depicted on the opposite and ominous side of the Force.

Opposition DMK Slams Taxation On Petrol, Diesel In TN
The effective price of petrol in Gujarat from midnight Tuesday will be Rs 66.53 per litre and that of diesel Rs 60.77 per litre. With this rate cut, the price of petrol will come down by Rs 2.93 and that of diesel by Rs 2.72 in the state.

Ozil's representatives confirm positive Arsenal contract talks
Also, Chile star Alexis Sanchez is yet to extend his contract with the FA Cup holders amid interest from Manchester City. The Gunners are set to be without Shkodran Mustafi for the game as the defender's thigh injury continues to be assessed.

California will allow self-driving cars without humans inside from 2018
In Arizona, Uber and Waymo have been giving rides to passengers in driverless cars without permission. The Senate version of the proposed law would not allow large driverless trucks.

Facebook outages reported throughout United States
Users were also reporting the outages on Twitter although Facebook was not responding to any of those users on that platform. The outage affected users across the world, including Japan, Brazil, India , the majority of Europe and the United States.

Fitness boost for Tottenham as Lamela and Rose return to training
The left-back has been out with injury, with Ben Davies stepping into Mauricio Pochettino's starting line-up and impressing. Rose has not played since sustaining a medial knee ligament injury on 31 January, for which he had surgery on 16 May.

Houston Congressman Al Green has Introduced Articles of Impeachment Against Trump
The resolution was therefore not offered and is not getting an imminent vote. He is the second Democrat to file articles of impeachment against Trump.