The name change officially takes effect October 31, though Tapestry's website is already live.
"As Coach Inc. moved from being just Coach the brand, we wanted a corporate name that would eliminate confusion and allow each of our brands to express their own narrative", Mr. Luis said in an interview Wednesday. But, like everything else in this world that upends that which you've always known or held dear, the change will feel like a personal affront for about two seconds and then by tomorrow, or the next day, if we're all still alive, you'll always think of Coach Inc., parent company to your favorite brand of shoes and handbags, as Tapestry. And most people still refer to Alphabet as Google. Philip Morris Co. morphed into Altria Group Inc.
Another Twitter user, SpecialK, posted: "Coach is changing its name to a popular Carole King album & a bad name for a leather bag maker!"
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Companies rename themselves for a variety of reasons. Yes, a tapestry is a woven cloth made of various threads that combine to form a handsome picture or whatever; that's a lofty goal for your holding company, sir, but it's a really dumb name!
The corporate name is being changed mainly to reflect that the company's expanding portfolio. Numerous name changes are a bit puzzling.
Tapestry Inc. sets out to encompass all those high-end brands under on umbrella but each brand will still have it's own individual voice.
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"It's really about creating a new corporate identity for Coach as a house of brands", he added.
"What's important in choosing a name is telling a story", said Allen Adamson, founder of BrandSimple Consulting. It's also a play on fashion, "weaving the brands together to make something attractive". Shares of Coach fell more than 2% after the announcement.
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