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Coach Inc. changes its name to Tapestry Inc.

Coach Inc., the well known leather goods brand is changing its corporate name to Tapestry Inc., a bid to
broaden its image after acquiring the Kate Spade and Stuart Weitzman brands.

The New York-based Luxury Company, most famous for its designer leather handbags, acquired Kate
Spade New York last summer for $2.4 billion, along with the shoe and accessory company Stuart
Weitzman in May 2015 for $574 million.

Explaining this rebranding exercise, Coach Chief Executive Officer Victor Luis said in a news report,
“Following the acquisition of Stuart Weitzman and later Kate Spade, we’ve evolved into a multi-brand
organization. With that evolution we made the decision to change our corporate name to Tapestry Inc.
with the objective to create a platform for our shared values and to avoid any confusion between the
company and any specific names and the belief that the brands would meld together.”

Graham Hitchmough, APAC CEO of Brand Union was quoted accepting that the move was a logical one
and “a clear, if unspectacular, naming strategy”. “The individual retail brands will retain their own
names and equity and the Group now reflects a multi-brand integrated operation, with an expertise in
textiles and craftsmanship. It allows for further expansion and acquisition without being unduly tied to
any one of their portfolio of brands. It’s essentially a rational attempt to distance the corporate entity
from any individual brand as they continue to expand and want the corporate entity to be distinct, but
still reflect some of the connecting values of the individual brands in the portfolio – which tapestry does
reasonably well,” he said.

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