If you’re into fashion then listen up, after 76-years of being Coach, Inc., the purse brand is officially changing it’s name.
It was announced on Wednesday that the upscale retailer Coach Inc. is changing its name to Tapestry. The name will be for their multi- brand company that holds Coach, Kate Spade, and Stuart Weitzman… the two companies it acquired over time.
After their announcement the company’s shares fell close to 2 percent in the early morning trades.
The company also received harsh reactions on social media like, “Why? Don’t do it!!!” or “hey @Coach the name change is a TERRIBLE idea. no good can come of it.”
Chief Executive Victor Luis had some things to say about the reactions to the new change… “At the end of the day some of social media reaction is misplaced because people think are changing the name of the Coach brand, which we are not doing. It’s really about creating a new corporate identity for Coach as a house of brands.”
He continued telling the Reuters that it was an idea that they had considered for some time and especially after the purchase of Kate Spade earlier this year.
The company did say that the name change goes into effect on Oct. 31.
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