Coach, famous for its handbags, has expanded its product line into business cases, luggage, outerwear, fine jewelry and eyewear. In addition, via licensing agreements, Coach has moved the brand into home and office furniture. Now Coach is targeting the Japanese consumer forming a joint venture with Sumitomo Corp.
Lew Frankfort, CEO, points to product innovation as a key to strong fiscal third- quarter 2005 results. "Our exceptionally strong results this quarter are a continuation of the trend we have seen over the last several years. Our business has been fueled by product innovation -- punctuated by monthly flow. In fact, while consumers have always seen Coach as a leading handbag and accessory resource, increasingly many of our customers come to Coach as a resource for the newest styles, similar to the way they seek out the latest innovations in technology. This season's colorful offerings, driven by handbags and women's accessories, have drawn an enthusiastic response from consumers."
Thanks to Coach's 7,800-square-foot-store in Nagoya, market share is growing in Japan.
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