When the news of Coach getting a name change first broke, it shocked the entire industry but soon we found that it's not what everyone thought it would be.
Many flamed up for the sudden news on social media but in actuality, the name change is for the parent company Coach, Inc. and not the brand itself.
So, let us break it down for you right here in just one sentence: On 11th Oct (Wednesday), the parent company of Coach (the brand), "Coach, Inc." announced that it will be changing its name to "Tapestry, Inc." as part of its move to be an international multi-label company.
That means this will not affect Coach (the brand) in any way when it comes to branding. It is the parent company Coach, Inc. that is changing.
This strategic move came right after the acquisition of two brands Kate Spade & Company (in summer 2017) and Stuart Weitzman (in 2015) as Coach, Inc. moves beyond the Coach brand.
Chief Executive Officer of Coach, Inc., Victor Luis says, "We are now at a defining moment in our corporate reinvention, having evolved from a mono-brand speciality retailer to a true house of emotional, desirable brands, all leveraging our strong operational foundation."
He continues saying "In Tapestry, we found a name that speaks to creativity, craftsmanship, authenticity and inclusivity on a shared platform and values. As such, we believe that Tapestry can grow with our portfolio and with our current brands as they extend into new categories and markets."
The name change will be effective from 31st October 2017 onwards and Coach, Inc. has partnered with Carbone Smolan Agency on all aspects of the rebrand.
You can find out more on www.tapestry.com now.