Tapestry, Inc.: Difference between revisions
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'''Tapestry, Inc.''' is an American [[Multinational corporation|multinational]] [[Luxury goods|luxury]] [[fashion]] holding company based in [[New York City]] and is the [[parent company]] of three major brands: [[Coach New York]], [[Kate Spade New York]], and [[Stuart Weitzman]]. |
'''Tapestry, Inc.''' is an American [[Multinational corporation|multinational]] [[Luxury goods|luxury]] [[fashion]] holding company based in [[New York City]] and is the [[parent company]] of three major brands: [[Coach New York]], [[Kate Spade New York]], and [[Stuart Weitzman]]. |
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This business was originally named Coach but it is changing its name to Tapestry to be more suiting towards the fashion industry and customers.<ref name=":0">{{Cite news|url=https://www.mercurynews.com/2017/10/11/coach-no-more-new-york-company-wants-to-be-called-tapestry/|title=Coach no more; New York company wants to be called Tapestry|date=2017-10-11|work=The Mercury News|access-date=2018-11-08|language=en-US}}</ref> The company finally changed its ticker symbol in the New York Stock Exchange from COH to TPR. The company is growing more and more everyday which demands for a greater number of Executives within the company as well as more lower-level employees. Since the company wanted to include more than just Coach-brand handbags, the company switched its name from a very specific assortment of accessories to a wider range of fashion products that entail all of the |
This business was originally named Coach but it is changing its name to Tapestry to be more suiting towards the fashion industry and customers.<ref name=":0">{{Cite news|url=https://www.mercurynews.com/2017/10/11/coach-no-more-new-york-company-wants-to-be-called-tapestry/|title=Coach no more; New York company wants to be called Tapestry|date=2017-10-11|work=The Mercury News|access-date=2018-11-08|language=en-US}}</ref> The company finally changed its ticker symbol in the New York Stock Exchange from COH to TPR. The company is growing more and more everyday which demands for a greater number of Executives within the company as well as more lower-level employees. Since the company wanted to include more than just Coach-brand handbags, the company switched its name from a very specific assortment of accessories to a wider range of fashion products that entail all of the firms products. Most of these products are accessories, such as, handbags for women or men, key-chains, shoes and other smaller fashion items. Most of these items are [[Leather goods|leather-goods]] and are produced by each company but still operates underneath the Tapestry parent company. Coach originally took over the other two brands in order to dominate the fashion industry for accessories before Tapestry Inc. came along.<ref name=":02">{{Cite news|url=https://www.businessoffashion.com/articles/news-analysis/coach-announces-name-change-to-tapestry-inc|title=Coach Announces Name Change to Tapestry Inc|date=2017-10-11|work=The Business of Fashion|access-date=2018-10-23|language=en-GB}}</ref> |
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== History == |
== History == |
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=== Kate Spade New York === |
=== Kate Spade New York === |
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[[Kate Spade New York|Kate Spade]] was originally founded by Kate Spade(the person) in the late 1970s. It was very similar to the Coach company when it was |
[[Kate Spade New York|Kate Spade]] was originally founded by Kate Spade(the person) in the late 1970s. It was very similar to the Coach company when it was initially starting out. Later, the Kate Spade company was recently bought-out by Coach in 2017 in a $2.4 billion deal. In 2018 Kate Spade took her own life and died at the age of 55. Even though Kate Spade no longer owned the company, the company was devastated as well as the customers of this fashion brand. It was a loss to not only the company, but also the fashion industry because she was a well-known icon in the business.<ref name=":0" /> |
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=== Stuart Weitzman === |
=== Stuart Weitzman === |
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Revision as of 22:33, 27 December 2018
 | This article may require copy editing for style, tone. (December 2018) |
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| Company type | Public |
|---|---|
| Industry | Fashion, accessories |
| Founded | 2017 |
| Headquarters | 10 Hudson Yards New York, NY[1] United States |
Key people | Jide Zeitlin (chairman of the board)[2] Victor Luis (CEO) Kevin Wills (CFO)[3] |
| Brands | Coach New York Kate Spade Stuart Weitzman |
| Total equity | |
Number of employees | c. 17,200 (2014)[4] |
| Website | tapestry |
Tapestry, Inc. is an American multinational luxury fashion holding company based in New York City and is the parent company of three major brands: Coach New York, Kate Spade New York, and Stuart Weitzman.
This business was originally named Coach but it is changing its name to Tapestry to be more suiting towards the fashion industry and customers.[5] The company finally changed its ticker symbol in the New York Stock Exchange from COH to TPR. The company is growing more and more everyday which demands for a greater number of Executives within the company as well as more lower-level employees. Since the company wanted to include more than just Coach-brand handbags, the company switched its name from a very specific assortment of accessories to a wider range of fashion products that entail all of the firms products. Most of these products are accessories, such as, handbags for women or men, key-chains, shoes and other smaller fashion items. Most of these items are leather-goods and are produced by each company but still operates underneath the Tapestry parent company. Coach originally took over the other two brands in order to dominate the fashion industry for accessories before Tapestry Inc. came along.[6]
History
Coach New York
In the early 1940s, everything got started for the Coach brand. It started out as just a workshop and then evolved into something much larger. This organization transformed into a very large company which contains over 17,000 employees.[7] Since Coach wanted to be more widely-known, it took-over brands such as Kate Spade and Stuart Weitzman. This broadened the appeal to consumers of all three brands by bringing them together. When the company switched its name over, stocks began to decline as some customers did not approve of this name change. The stocks since then have steadily increased back to its original standards because a year in time has passed.[6]
Kate Spade New York
Kate Spade was originally founded by Kate Spade(the person) in the late 1970s. It was very similar to the Coach company when it was initially starting out. Later, the Kate Spade company was recently bought-out by Coach in 2017 in a $2.4 billion deal. In 2018 Kate Spade took her own life and died at the age of 55. Even though Kate Spade no longer owned the company, the company was devastated as well as the customers of this fashion brand. It was a loss to not only the company, but also the fashion industry because she was a well-known icon in the business.[5]
Stuart Weitzman
The brand started out in the late 1950s and was a shoe company named after one of the brothers who started it. It grew into a large brand of higher-quality shoes in Manhattan. Stuart Weitzman was taken over by Coach in 2015. The deal was $574 million and was a big purchase to widen the scope of Coach's products and amount of customers they receive. This broadened the companies' products because selling shoes are not a part of the other two brands' product inventory. Since the Tapestry company is known as a luxury -goods company, it made sense to buy-out a luxury shoe brand.[5]
Staff
- Chief Executive Officer, Victor Luis. Luis began working with the company as the CEO of the company that represents Tapestry, Inc. in Japan. He then worked for the company in China before taking on the job of Tapestry, Inc.'s International CEO, followed by the job of CEO of Tapestry, Inc.[8]
Stocks
2017
Declined around 2-3% due to the name change. The company made a steady increase back to what it is today in 2018.
2018
Stocks as of October 2018 are at US$42.51(United States Dollars) while the high is $43.53 and the low is at $43.39.[2]
References
- ^ a b "Coach, Inc.2013 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. August 22, 2013.
- ^ a b "Profile: Tapestry Inc (TPR.N)". Reuters. Retrieved 2018-10-23.
{{cite web}}: Cite has empty unknown parameter:|dead-url=(help) - ^ "United States Securities and Exchange Commission Form 8-K". 2017-01-04.
- ^ a b "Coach, Inc. FY14 Annual Report Form 10-K". United States Securities and Exchange Commission.
- ^ a b c "Coach no more; New York company wants to be called Tapestry". The Mercury News. 2017-10-11. Retrieved 2018-11-08.
- ^ a b "Coach Announces Name Change to Tapestry Inc". The Business of Fashion. 2017-10-11. Retrieved 2018-10-23.
- ^ "Coach Inc. Is Dead. Long Live Tapestry". Retrieved 2018-11-08.
- ^ "Tapestry Inc". Bloomberg. Retrieved 2018-10-21.
{{cite web}}: Cite has empty unknown parameter:|dead-url=(help)
External links
- Official website
- Business data for Tapestry, Inc.: