What Is The Reason For Making Coach Change Its Name To Tapestry?

In order to pform into a multi brand

The group, Coach, Inc. (06388.HK, COH.NYSE) of the us light luxury company has made up its mind this time.

The company announced that it will change the company's name to Tapestry, Inc. (TPR.NYSE) on the night of October 11th Beijing time.

The change will take effect on October 31, 2017.

At present, the website has been launched.

Founded in the 40s of last century.

The banner at the beginning of the ceremony was "the luxury of tentacles", which also created the concept of "light luxury".

After decades of development, there are many successors, such as Michael Kors, Tory Burch and Kate Spade.

But this family once relied on freedom.

After a half century of creation, the world's company finally encountered a "bottleneck". In 2014, the development of the company was in a stalemate. CEO Victor Luis set the tone for the future development of COACH. Besides the upgrading and pformation of the same name brand, the US company began to buy new brand as thickening performance as its European fashion partners did earlier.

According to the world clothing and shoe net, in 2015, COACH spent more than 500 million dollars from the private Holdings Company Sycamore Partners to win the shoe brand Stuart Weitzman, which is the first brand of COACH acquisition.

Since then, the company has been looking for it in the market, and has passed the scandal "Burberry, Jimmy Choo" and the bubbling Kate Spade.

One of these hearsay was not implemented until this year.

In July, COACH finally announced that it had completed its acquisition of Kate Spade, its own strong rival, with a total paction value of US $2 billion 400 million.

"Three years ago, we formulated the vision of Coach's strategic pformation and announced that we would seek more diversified growth opportunities outside the Coach brand."

Victor Luis said, "now, we are at a critical moment in the reshaping of the company.

We are pforming from a single brand professional retailer to a multi Brand Company with high emotional connections.

For CAOCH, its luck is good, compared with its competitors, COACH's "decline" appeared earlier, the pformation is also early, at present, the recent earnings report, the original innovation has gained results.

Other brands are not so lucky.

Kate Spade's share price has fallen more than 60% in the two years before selling.

This also led to the sale of the company from the end of 2016, and CAOCH, which was eventually resuscitation.

The company is ambitious for the future.

According to CEO, after all, the market value of high-end handbags and accessories, footwear and coats in the world is as high as $80 billion, and the market has continued to grow.

For COACH, this is the opportunity. "Every brand of our company has its unique positioning to meet the different consumers' fashion sense and emotional needs."

I do not know who will be the next target of the group now renamed tapestry.

More interesting reports, please pay attention to the world clothing shoes and hats net.