Coach eyes China
By: Leonie Barrie - 21 January 2010 18:43
China is the big opportunity for Coach, where current performance is outstripping even the company's own strong expectations.
Here’s what the company’s CEO Lew Frankfort told analysts about the country where its 37 stores are seeing impressive double-digit growth.
“The Chinese consumer loves Coach. She rates us highly on all of the attributes she values such as fashion, sophistication, quality, and value and as our awareness increases her future purchase intent is holding among those who have not yet purchased Coach.
“And among existing Coach China consumers, repurchase intent is surprisingly high at 94%, a higher level than we’ve experienced in the US or Japan.”
A recent study by consulting firm Bain & Co predicts China’s luxury sales grew between 15% and 20% last year, while other figures forecast the spending power of Chinese women alone will reach US$216bn during the next decade.
The figures indicate enormous growth potential, so it's no wonder that Coach is accelerating its expansion plans as a result.
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