• Q4 profit up 34% to US$196m
  • Sales up 22% to $951m
  • Hails China as biggest future opportunity

Accessories specialist Coach is eyeing China as its biggest future opportunity after a 34% fourth quarter profit hike was fuelled by a 22% rise in sales.

The increases took full-year profit to $735m, up 18% on last year, and full-year sales to $3.61bn, up 12%, the company announced.

“This quarter’s performance demonstrated a continuation of the resilience we have seen throughout the year, as our market share expanded across all geographies,” said Lew Frankfurt, Coach chairman and CEO.

“Clearly, China is our biggest opportunity, as our brand takes hold and the market continues to develop rapidly.

“We’ve started developing a multi-channel distribution model in China, including retail stores, shop-in-shops and flagships, and expect to accelerate new store openings, with about 30 new locations planned this year.”