June 2008 -- Driven by strong handbag sales, accessories producer Coach Inc. posted stronger revenue and
profit in 2007. Net sales were $2.6 billion in 2007, up from $2 billion recorded in 2006. Profit
rose to $663.7 million compared with $494.3 million in 2006. Direct-to-consumer sales grew 30%
to $2.1 billion from $1.61 billion generated in 2006. The company launched several new products
in 2007 that helped boost sales, notes Chairman and CEO Lew Frankfort.
"Our successful spring and summer collections drove our performance, as we continued to improve
productivity through our well-received product offerings," said Frankfort in a July 31, 2007
statement. "In April, Ergo, the third new lifestyle platform of 2007, was introduced in North
America with considerable success. For May, we launched a new summer program, featuring a Legacy
Cotton Signature assortment, which was built on the success of last year's small capsule group.
In June, Patchwork, a perennial favorite, returned across a variety of Ergo silhouettes along
with new styles and fabrications in Signature Stripe."
