What’s in a Name? (Actually a lot)
Last week, it was announced the company known as Coach Inc, would be re-named Tapestry, Inc. There is a distinction to be made – Coach (as its often referred to by its many fans) is the namesake fashion and accessories brand line and Coach Inc is the namesake “holding” company that actually owns Coach along with other brands including Kate Spade and Stuart Weitzman. Confusing? Probably why the name change.
Tapestry’s CEO, Victor Luis stated the name change was intended to signal the company was a multi-brand entity that owned many unique brands and that no sole brand should be singled out. It is a move that mimics many of the European fashion conglomerates such as LVMH, Kering and Richmont, which are all holding companies that own multiple luxury brands. Tapestry’s bigger business goal is to perhaps, go directly after these companies with a similar business structure.
If so, the name change is strategically aligned and is reminiscent of many corporate brands especially in CPG. For example, The Clorox Company, Campbell’s, Nestle, Smucker, and PepsiCo have been successful in expanding their portfolios beyond the titular brands. However, do their corporate names, tied to one brand, limit perceptions […]