American luxury handbag designer Coach has announced that the 76-years-old household name would take on a new name. The billion dollar brand would now go by the name “Tapestry Inc”.
Although people on social media are still highly opinionated as ever, and most people don’t seem to make sense of the name change, we could only guess that this big move is for the brand to tie together its newly acquired company’s and divert from being recognized as solely a handbag manufacturing company.
“We are now at a defining moment in our corporate reinvention, having evolved from a mono-brand specialty retailer to a true house of emotional, desirable brands” Victor luis, Chief Executive officer.
According to the company, the brand will take on its new name as from the 31st of October this year. Furthermore only the new products released from the 31st will go by the name Tapestry, older products by the brand will retain the name Coach.
Over the years the brand has widened its horizons and moved from being just a handbag company. It purchased Stuart Weitzman in 2015 and just a few months ago bought over rival company Kate Spade for a whopping 2.4 billion dollars.