Never say never, but I don’t think I will ever think of Coach in the same caliber as say Louis Vuitton or Gucci. But, Coach is setting out to try and change that perception.
Coach Inc.’s president and executive creative director, is proud to open the first
Coach Legacy store today. It’s the first of
what could be many intimate boutiques for the $2.6 billion megabrand, according to today’s WWD.
1,200-square-foot store at 372-374 Bleecker Street in Manhattan’s West
Village — the signage reads "Coach Leatherware", with a vintage
horse-and-carriage logo — showcases a mix of offerings ranging from the
brand’s namesake fragrance at $78 to a matte alligator satchel for
$20,000. The Legacy store could be the foothold Coach needs to compete
with European luxury powerhouses Louis Vuitton, Prada and Gucci.
"Fashion bags are selling for $895," said Krakoff, pointing out that there is little price resistance when it comes to handbags. The
average price for a Coach bag is slightly more than $300, but styles
such as the Lily, which starts at $1,198, and the Bleecker, topping out
at $748 for the largest size, are almost sold out.
Shoes, jewelry, outerwear, gloves, hats, dog
accessories, small leather goods and sweaters from Coach’s knitwear
collaboration with Lutz & Patmos are available at the store. All
product categories are intermingled on the sales floor for a casual,
but elegant feel.
Would you pay more money for a luxury Coach bag?
Read "Coach Begins Legacy in New York"
Photos: WWD and Style.com