Coach strides into the Russian market
Recognising the fast-paced rise in consumer spending in Eastern Europe, American luxury footwear and accessories brand Coach is to enter the Russian market through a new distribution deal with domestic company Jamilco. Under the new partnership, the company plans to open 15 retail outlets in the first five years, initially concentrating on Moscow and St. Petersburg, with the first free-standing store expected to open in Moscow this April.
"Russians are fast becoming important consumers of luxury accessories, both domestically and in key travel retail markets such as the Middle East, where Coach has established a retail presence with ten locations. Opening in Russia is part of our strategy to capitalize on the increasing popularity of the brand with emerging luxury consumers globally," said Ian Bickley, president.
