February 19th, 2010
Coach CEO Lew Frankfort :secret of success of luxury sales(Ⅰ)
In rough times, it’s venturesome for luxury brand to save its face. A unskilled and shortdated budget will lead to long-term destroy.
In consideration of high-end market, Coach propping up in the past two years makes a strong impression.
Coach still continues to reserve little black dress of accessory market. It’s annotation of challenging fashion: it’s essence in the chest of drawers, it’s also a eternal brand you could buy trustingly year after year.
When share price of Coach rises continually, investors also understand two basic practice in the fashion world.
First, classic will never be fell behind.
Second, have a little patience and everything will be sold out finally.
Coach has undergone acid test just like its merchandise propagandized. Before economic crisis coming, the company has prepared for the further development dealing with economic recession.
Retired Lew Frankfort is just the person who has lead the brand going through 30 years for better or worse, holding a post of President concurrently chief executive office for 14 years. Under the leadership of Lew Frankfort, Coach weathered the storm among manufacturers-its Poppy handbags collection made a price during lean times, and nowadays price of half of handbags is less than 300 USD. Frankfort puts keeping future growth first in the Coach schedule list at the same time, by means of increasing its popularity to expand the consumer demand in the Asian. The company has added 5 boutiques and proclaimed the plan they would set up Asian distributing center.