Coach to open second Tokyo flagship store
Seeking a bigger slice of the booming Japanese market for luxury goods, the US leather accessories brand Coach has said it is to open a second flagship store in Tokyo.
To be located on Inokashira-dori, a central point within one of Japan's busiest shopping districts, the store will open in the spring of 2003.
The 7,300 square foot store (approximately 680 square metres) on two floors will be designed by Michael Neumann Architecture will have a decidedly contemporary feel, featuring a ‘sleek, open and inviting format’.
In announcing the new store, Ian Bickley, President of Coach Japan, Inc. revealed that the company’s Ginza flagship store, which opened in May 2002, is on track to generate more than $15 million in sales during its first year of operation, making it the largest volume Coach store worldwide.
"These results led us to accelerate plans for a second flagship location." Mr. Bickley continued, "Shibuya is one of several key commercial areas where CJI is targeting to open flagship stores and was selected to further enhance Coach's appeal and awareness with younger consumers. Our business here remains remarkably strong throughout the country as we are continuing to achieve double-digit comparable store sales increases in Japan this quarter. We are planning to open at least 10 new locations this fiscal year."
