Coach is not dead.
Oh, wait. Yes it is. Kind of.
Never miss a local story.
It’s the end of an era over at Coach Inc., reports The New York Times.
Say hello to Tapestry.
On Wednesday, the accessible-luxury group that owns Coach, Stuart Weitzman and Kate Spade made the shocking announcement that the corporate side was changing its name.
“It’s a wonderful metaphor for what we believe in, which is individual threads of different colors all working together to create a picture,” said Victor Luis, Coach Inc.’s chief executive.
The new moniker works, says Luis, because it “wasn’t too corporate-y or made up, that was easy for everyone to understand.”
You will still be able to buy Coach bags though. Phew.
The name change officially goes into effect Oct. 31. Halloween — not April Fool’s Day.
The Times adds that Tapestry will trade on the New York Stock Exchange under the symbol TPR.
Founded in a NYC in 1941, Coach used to be one of the hottest tickets around but lost its luster in fashion circles in recent years.