In mid June, 2014 Coach announced that it would be closing 70 of their under-performing outlets. This is in light of recent developments which includes the bringing on of Stuart Vevers as their new Creative Director. Vevers plans to take the brand to a more fashionable and expensive level, focusing on high quality all leather goods.
This also means a shift in their sales strategy, going to a biannual sales promotion which is more in line with your other luxury brands like LV and Prada. There will also be a major shift in the outlets, moving the signature logo bags out and bringing in a wider variety of leather goods.
There have been mixed reviews about these changes, but overall I get a sense that this is a positive move. Many long time Coach aficionados had grown away from Coach because of the ubiquitous logo line and what I am hearing is that they are looking forward to returning to Coach because of the new direction. I guess time will tell. It seems their focus will be on a more sophisticated consumer who is looking for quality rather than brand recognition.
What do you think? Share your thoughts about these changes
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