Accessories and lifestyle company Coach Inc. said Wednesday that it’s changing its name to Tapestry Inc. and its ticker to “TPR,” effective October 31. The move comes three years after the company laid out its plan to build beyond the Coach brand. Coach Inc. now includes Stuart Weitzman, acquired in 2015, and Kate Spade & Co. “In Tapestry, we found a name that speaks to creativity, craftsmanship, authenticity and inclusivity on a shared platform and values,” said Chief Executive Victor Luis in a statement. Coach shares are up 13% for the year so far. The SPDR S&P Retail ETF is down 7% for 2017 to date and the S&P 500 index is up 14% for the period.
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