Coach, Inc. is to become Tapestry, Inc. on October 31, 2017. The Company says it searched for a name to reflect its “optimism, inclusivity and innovation” values, while also expressing the cultural diversity of its people and its brands. “In Tapestry, we found a name that speaks to creativity, craftsmanship, authenticity and inclusivity on a shared platform and values. The name embodies our creative brand-led and consumer-focused business, while also representing the deep heritage of the group”, said Coach Inc in a statement.

Victor Luis, CEO, Coach Inc, said the change reflects the Company’s intention to grow beyond the Coach brand; it acquired footwear brand Stuart Weitzman in 2015 and leather bag brand, Kate Spade in May this year. “Each of our brands has a unique proposition, fulfilling different fashion sensibilities and emotional needs within the very attractive and growing US$80 billion global market for premium handbag and accessories, footwear and outerwear”, said Luis.

The company’s common stock, traded on the New York Stock Exchange under the symbol COH, will change to TPR.