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4-Traders Homepage  >  Equities  >  Nyse  >  Kate Spade & Co    KATE

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Kate Spade : Coach changing name to Tapestry

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10/15/2017 | 08:42am CET

NEW YORK — To better incorporate all of the brands it now owns, the storied Coach company of New York is changing its name to Tapestry.

The luxury goods company now owns brands like Stuart Weitzman and Kate Spade & Co. as well. CEO Victor Luis said Wednesday that the name Tapestry is more inclusive.

Coach acquired Stuart Weitzman in 2015 in a deal valued up to $574 million. It spent $2.4 billion for Kate Spade this year, seeking to broaden its appeal. The Coach brand of bags and other goods is alive and well, but it becomes one of three brands sold by the company that will be called Tapestry.

“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,” Luis said in a company release.

A website with the new name, which becomes official at the end of the month, is up and running.

The change is part of Coach’s pursuit of younger shoppers who may not feel the same draw to store windows on Manhattan’s Fifth Avenue.

© 2017 Cooke Communications LLC - The Daily Reflector, source Newspapers

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Kate Spade & Co Technical Analysis Chart | KATE | US4858651098 | 4-Traders
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George M. Carrara President & Chief Operating Officer
Thomas Linko CFO, Principal Accounting Officer & SVP
Linda S. Yanussi Chief Information Officer & SVP-Global Operations
Todd Kahn Director & Chief Administrative Officer
Kevin G. Wills Director
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