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Coach changing its name to Tapestry with effect from October 31 to reflect change of focus

Proactive Investors Wednesday, 11 October 2017 ()
Coach Inc. (NYSE:COH) has announced it is changing its name to Tapestry Inc., and its ticker to TPR with effect from October 31. The move comes three years after the luxury leather products group laid out its plan to build beyond the Coach brand, with the firm now including shoe and boot designer Stuart Weitzman, acquired in 2015, and apparel and accessories group  Kate Spade & Co. In a statement, Coach’s chief executive, Victor Luis said: "In Tapestry, we found a name that speaks to creativity, craftsmanship, authenticity and inclusivity on a shared platform and values." In early New York trading, Coach shares were down 1.9% at US$39.243, having gained 13% for the year so far.
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News video: Coach is changing its name to Tapestry, and I found out in a text from my mom

Coach is changing its name to Tapestry, and I found out in a text from my mom 00:52

My mom is not one to sleep on the news. Though she knows I work for the internet, I will receive several iPhone-captured photos a day of headlines she’s viewing on her computer. Today’s hot take: Coach Inc. is changing its name to Tapestry. Why the

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