As the symbol of New York leather goods manufacturer, Coach will this month end officially renamed Tapestry. This change is to expand its multi brand image after the continuous acquisition of the two major brands of Kate Spade and Stuart Weitzman.
Victor Luis, the chief executive of Coach, said on Wednesday: “the transition from the previous single brand to the multi brand Coach is now at the decisive moment of the reform. Tapestry is the name that conveys creativity, craft, authenticity and inclusiveness in shared platforms and values.
Although the company has changed its name, Coach’s own brand is not affected and changed. This renaming is mainly to highlight the general company has been upgraded to be the top three brands of the boutique group.
After the package industry faced with falling demand, the decline in the retail store traffic. Coach is just taking the opportunity to build itself into a multi – Brand Company. In 2015, it bought the luxury women’s shoes brand Stuart Weizman for 574 million US dollars, and bought Kate Kate Spade earlier this year to enrich its customers.