The holiday season is upon us. Yes, ‘tis the season with Thanksgiving, Christmas and New Year’s Day all on the way. But wait! What about National Handbag Day? For all of you handbag aficionados, you may have known that October 10th was, indeed, National Handbag Day and this year on the momentous day there was a major announcement made. Luxury handbag maker, Coach, made the official announcement that they are changing their name to Tapestry. According the corporate office for this long time brand, the change in name is a part of their rebranding initiative as it transitions into a “multiple brand” retailer following its acquisition of Stuart Weitzman and Kate Spade.

Coach, whose brand is 76 years old, was met with social media scrutiny following this news. Many feel that it changes the feel of the brand and that it loses its iconic feel in a way. Former Nordstrom executive, Andrea Wasserman, has been quoted as saying that this is “bizarre and a strategy departure.” In response to the media scrutiny, Chief Executive Victor Luis, has been quoted as saying that “this is a home that is not limited to any category, channel or geography.” Luis further explains that he is hoping to send a signal to his targets in the $80 billion premium fashion market.

Tapestry is intended to embody “creativity, craftsmanship, authenticity and inclusivity”, according to what Luis reported in other interviews. Reportedly, the brands included in the current Tapestry trio; Coach, Stuart Weitzman and Kate Spade, will keep their respective names.

Featured Image: Shutterstock