The parent company of US-based luxury retailer Coach is poised to rename itself to Tapestry Inc.
Effective from October 31, the new name aims to better reflect Coach Inc’s entire brand portfolio, which includes Stuart Weitzman, the eponymous Coach and the recently-acquired Kate Spade.
The rebrand is also part of ambitions to become a leading American fashion group, in a similar vein to Spain’s Inditex or France’s LVMH and Kering.
“Three years ago we laid out our vision to transform Coach and announced our intention to grow beyond the Coach brand,” Coach Inc chief executive Victor Luis said in a statement.
“Through the execution of our strategic plan and with the acquisitions of Stuart Weitzman in 2015 and Kate Spade & Company just this summer, we have realized these goals.
“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 added: “We believe that Tapestry can grow with our portfolio and with our current brands as they extend into new categories and markets… we are establishing a strong and distinct corporate identity, which enables our brands to express their individual personalities and unique language to consumers.”
