Coach,
Inc. (NYSE: COH, SEHK: 6388), a leading New York-based house of modern luxury
accessories and lifestyle brands, today announced that it will be changing its
name to Tapestry, Inc., (NYSE: TPR) effective October 31, 2017.
Victor Luis, Chief Executive Officer of Coach, Inc., said, “Three
years ago we laid out our vision to transform Coach and announced our intention
to grow beyond the Coach brand. 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 specialty retailer to a true house of emotional, desirable
brands, all leveraging our strong operational foundation. Each of our brands has a unique proposition,
fulfilling different fashion sensibilities and emotional needs within the very attractive
and growing $80 billion global market for premium handbag and accessories,
footwear and outerwear. At the same
time, our brands are also built upon the shared values of optimism, inclusivity
and innovation.”
“We searched for a name to reflect these values while also expressing
the cultural diversity of our people and our brands for today and tomorrow. 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 embodies our creative brand-led and consumer-focused
business, while also representing the deep heritage of the group. Most importantly, we are establishing a strong
and distinct corporate identity, which enables our brands to express their individual
personalities and unique language to consumers.”
The leadership team
at Coach, Inc. partnered with renowned brand agency, Carbone Smolan Agency
on all aspects of the rebrand.
Coach, Inc. will
become Tapestry, Inc. on October 31, 2017.
It is a New York-based house of modern luxury lifestyle brands. The
company’s portfolio includes Coach, kate spade new york and Stuart Weitzman.
Our company and our brands are founded upon a creative and consumer-led view of
luxury that stands for inclusivity and approachability. Each of our brands are
unique and independent, while sharing a commitment to innovation and
authenticity defined by distinctive products and differentiated customer
experiences across channels and geographies.
To learn more about Tapestry, please visit www.tapestry.com. The
company’s common stock is traded on the New York Stock Exchange under the
symbol COH, which will change to TPR on October 31, 2017. The company’s Hong
Kong Depositary Receipts are traded on The Stock Exchange of Hong Kong Limited
under the symbol 6388.
No comments:
Post a Comment