Coach says growth in China is faster than it hoped
23/11/2009
Leathergoods brand Coach has said that its business in China is growing faster than expected.
In May last year, the company said it planned to open 10 new stores in cities across China each year for the next five years. It
also said it was aiming to have a 10% share of the Chinese leathergoods market by the end of 2013, which it said would, by then, be worth $2.5 billion a year in total.
But, speaking at a conference hosted by Morgan Stanley on November 20, Coach’s chief executive, Lew Frankfort, commented: “Given the stronger market growth than originally expected, our performance and our accelerated pace of store openings, we will be revising our projections substantially upward next spring.”
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