Coach confident in transformation plan despite sales dip
22/10/2013
Net income for the quarter totalled $218 million compared with net income of $221 million in the same period last year.
However, Coach’s CEO Lew Frankfort said the US company was confident that its transformation programme will boost sales from now on. "We moved forward with our transformation initiatives across all consumer touch points - product, store environments and marketing - focused on addressing the competitive handbag and accessories category in North America,” he said.
Victor Luis, chief commercial officer, added: “Consumers will see a fuller expression of the Coach brand, with the arrival of a limited edition capsule collection across all product categories. And we will soon be unveiling a new store concept in two key flagship locations in New York and Southern California. Our intent is to drive brand relevance and increase Coach's resonance with our consumers.
"With the recent arrival of our new Executive Creative Director, Stuart Vevers, along with our talented team, we have the creative leadership to advance Coach's transformation. Coach is an iconic brand, grounded in authenticity and heritage, with a proven history of successful reinvention. We are confident we're taking the appropriate strategic actions, knowing that this is a multi-year journey that ensures both brand vibrancy and healthy, long-term growth.”
Share this story:
