Coach along with Kate Spade and Stuart Weitzman are now known as Tapestry. But what about my handbags?
On Oct. 11th, Coach Inc. announced intentions to rename the brand Tapestry. The rebranding is an effort meant to reflect the new multi-brand direction of the company rather than the company reflecting only one brand. Coach Inc. recently acquired Kate Spade and Stuart Weitzman for $1.4 billion and $574 million respectively.
The recent acquisitions and rebranding has been seen by many as a move to become the first American fashion group similar to that of Paris competitor and largest luxury retailer LVME, that includes brands like Louis Vuitton, Chanel, and Dior. However, consumers need not worry about losing the iconic Coach insignia, “No one will ever see the word Tapestry on a Coach store,” said Coach CEO Victor Luis, explaining the name change is just for corporate purposes. The name change officially goes into effect Oct. 31.
Do you think this rebranding is a smart move or just something to do? Comment below