NEW YORK — Coach, the model well-known for its purses, is about to vary its company identify. It’ll quickly be referred to as Tapestry.
The corporate introduced Wednesday that it was planning to rename itself as Tapestry, efficient on Halloween. The corporate’s ticker image will change from COH to TPR as properly. Shares of Coach fell greater than 2% after the announcement.
However worry not, followers of Coach wallets and clutches. The shop identify and all of the equipment it produces will stay Coach.
Andrea Shaw Resnick, a spokeswoman for the corporate quickly to be generally known as Tapestry, informed CNNMoney that nothing will change for shoppers.
The company identify is being modified primarily to mirror that the corporate’s increasing portfolio. Coach additionally owns boot maker Stuart Weitzman, which Coach purchased in 2015, and fellow purse maker Kate Spade, which Coach acquired earlier this yr.
These manufacturers will hold their names as properly.
And the brand new Tapestry identify probably makes it simpler for the corporate to buy much more style strains and put them beneath the Tapestry umbrella. (Talking of which, you should purchase precise umbrellas from Coach and Kate Spade.)
So you possibly can consider the Coach identify change equally to Alphabet, the father or mother firm of Google and YouTube. Alphabet is only a company moniker, however there isn’t truly an Alphabet shopper model. And most of the people nonetheless check with Alphabet as Google.
Resnick stated that the Tapestry identify was chosen partly as a result of it’s a mirrored image of the historical past and heritage of the Coach, Kate Spade and Stuart Weitzman manufacturers. It’s additionally a play on trend, “weaving the manufacturers collectively to make one thing lovely.”
To that finish, the brand new Tapestry web site that went stay Wednesday options the tag line of “Particular person Expression. Collective Magnificence.”
Coach joins a rising listing of firms who’ve modified their names over the previous few years. Most of the identify modifications are a bit puzzling.
Verizon, which itself is a made up identify shaped after telecoms Bell Atlantic and GTE merged, created the Oath subsidiary in 2017 to deal with the content material operations it acquired by means of purchases of AOL and elements of Yahoo.
What’s left of Yahoo then did a reputation change of its personal — to Altaba. That identify performs off the truth that the Yahoo belongings Verizon didn’t purchase are primarily an funding in Chinese language e-commerce agency Alibaba.
Then there’s the routinely maligned Tronc, the brand new identify for the newspaper writer that…