Coach to expand in China with 30 new stores by June 2014
Premium leatherwear maker Coach will open 30 new stores in China by the end of June 2014, adding to the brand’s existing 147 stores in mainland China, Hong Kong and Macau.
Disappointing Q3 sales at the brand’s North American stores contrasted with a 25% sales increase in China. Sales dropped 21 percent for the quarter ending March 29 at North American stores open at least one year, from which Coach derives 70 percent of its revenue.
With recent management changes that included the hiring of a new CEO, Victor Luis, and a new creative director, Stuart Vevers, Coach continues its transformation intoa lifestyle brand and expand its product line to include shoes and clothing.