New York based, well renowned Coach Company has finally confirmed that they will incorporate all the brands under a single name that is Tapestry.
They came into existence during the “Mad Men” era and now they have the big brands like Stuart Weitzman and Kate Spade & Co. under their roof.
Tapestry CEO, Victor Luis informed that their company will serve all the required items and facilities to the customers at the earliest in a convenient way. Hence people’s choice will be given high priority at Tapestry.
In the year 2015, Coach acquired Stuart Weitzman by paying $574 million and they spent an additional $2.4 billion for expanding its appeal in order to attract more customers.
Victor Luis in his company release informed that initially they had started with a mono-brand, but with dedication and hard work they are now the house of desirable brands.
He also informed that by the end of this month the official website by the name of Tapestry will be launched.
Coach was started during 1941 at Manhattan as a small workshop and by 1960’s it became the powerhouse of fashion and design. People loved the brand and supported it during the entire growth period. And now it is the top American multinational luxury fashion company.
They are known for designing accessories and gifts for both men and women. Handbags are one of their main output which does a good business across the globe.
Very soon the ticker symbol will be changed from “COH” to “TPR” at the New York Stock Exchange. It is also been said that because of this news the shares have declined by more than 2 percent and has decreased to $39.11 as per the morning trading Sensex.