The corporate and fashion worlds and rebranding go hand-in-hand, and Coach Inc. — owner, operator and overall string-puller behind popular brands Coach, Kate Spade and Stuart Weitzman — has decided to make some changes to firmly present the company as a multi-brand powerhouse, shutting down attempts to make its corporate name synonymous with only one label.
As of Tuesday, October 31, Coach Inc. will cease to exist as a name, giving new life to Tapestry Inc. None of the three major brands under the Tapestry Inc. umbrella will receive any actual branding or aesthetic changes, so the world-famous “Coach” logo will live on. For those who pay attention to Tapestry’s performance on the New York Stock Exchange, the COH symbol will flip to TPR on the same day the name-change becomes permanent.
Calling the new name a “wonderful metaphor” for the inclusive, multicultural beliefs that propel and motivate the Tapestry Inc. family, CEO Victor Luis tells The New York Times that his company stands for “individual threads of different colors all working together to create a picture.”
Projecting the name change as a sort of corporate victory over others in the same field, Luis also labels Tapestry Inc. as “the first New York Fashion Group.” Regarding its place in the global marketplace, he also asserts his company’s competitiveness and strength; according to Luis, Tapestry Inc. “is a home that is not limited to any category, channel or geography.”
In a statement reported to Fashionista, Tapestry Inc.’s CEO breaks down the news as such:
“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 handbags and accessories, footwear and outerwear … In Tapestry, we found a name that speaks to creativity, craftsmanship, authenticity and inclusivity on a shared platform and values.”
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