NEW YORK — Coach Inc. is experiencing the pains of reinvention.
The accessories and handbag company, which is in the process of evolving its product assortment, pricing and branding in an effort to achieve lifestyle-brand status, saw its shares fall 7.9 percent Tuesday as it reported a 12 percent drop in fourth-quarter income, the cutting of 200 jobs and the departure of two more high-level executives. And the brand doesn’t expect any major turnaround in the challenged North American business over the next few quarters.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"