After acquiring Kate Spade earlier this year and Stuart Weitzman in 2015, Coach has decided to change the parent company name from Coach to Tapestry. When the news broke, social media wasn’t happy. Coach stock dropped 2%. Coach said that they are making the change to include all of the brands under currently under their umbrella and their future purchases.
Coach was originally founded in 1941 in a Manhattan loft. It is now a multi-billion dollar company that now sells handbags, clothes, shoes, jewelry and more. Because of online sells, the company hasn’t been doing as well as it once was, which is why they purchased Kate Spade and Stuart Weitzman companies. Let’s see if the name change will really affect sells.