Goodbye Coach – Hello Tapestry!
On Wednesday (Oct 11th), the famous handbag and luggage brand, COACH Inc., announced that the company will be changing its corporate name effective on October 31st, to Tapestry. As we all know, COACH is known for its high end, world renown collections and individual products.
The COACH stock shares (COH) have since dropped 2% after its name change announcement. The company’s spokeswoman, Andrea Shaw Resnick, assures that consumers should have no fear, nothing about the products are going to change. All store names and pieces will still be COACH.
The NY based company as an entirety is just changing its corporate name to Tapestry, because they are expanding their portfolio. After acquiring Kate Spade earlier this year and Stuart Weitzman back in 2015, COACH has turned into a multi-brand fashion powerhouse.