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While Coach's Corporate Rebranding is Maddening, Tapestry Might Be a Gamechanger
On this week’s episode of Shopping for Stocks, host and Zacks Editor Maddy Johnson revisits American fashion icon Coach Inc. , and its recent decision to change its corporate name.
Last week, Coach, which now owns fellow luxury handbag and accessories company Kate Spade and shoemaker Stuart Weitzman, is now Tapestry Inc.
After a months-long search, Tapestry follows in the footsteps of many companies who have undergone a strategic rebranding: Alphabet Inc. (GOOGL - Free Report) , Altria Group (MO - Free Report) , and Mondelez (MDLZ - Free Report) , formerly Google, Philip Morris, and Kraft, respectively.
Tapestry is likely mimicking European giants like LVMH and Kering, among others, each of whom boast an impressive slate of fashion brands among their portfolios. LVMH owns Louis Vuitton, Moët Chandon, Hennessy, Céline, Dior, and Sephora, including many others, while Kering operates Gucci, Saint Laurent, Balenciaga, Alexander McQueen, and Bottega Veneta.
It’ll be interesting to see what moves Michael Kors makes going forward, too. After their recent purchase of high-end shoemaker Jimmy Choo earlier this year, will the retailer follow in Tapestry’s footsteps and change their corporate name as well?
As a reminder, if you feel that something was missed, or if you want a different topic covered, send an email to podcast@zacks.com. Make sure to check out all of our other audio content at zacks.com/podcast, and remember to subscribe and leave a rating on iTunes.
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