Coach was established in 1941. Miles Cahn initially started the business as small leather goods manufacturing unit in New York. Gradually, after adopting new process technologies, Coach began to produce high-quality handbags and opened their first exclusive retail store in 1981. In the mid1980s, Sara Lee bought the business from Cahn and began extensive and rapid expansion. Over the years, the business product portfolio had been expanded. In order to fulfill the increasing demand, Sara opened new factory in Florida and expanded the numbers retail stores across the states and overseas. Unlike other luxury brands, Coach aimed to position itself in a particular segment that implement a relatively lower pricing strategy. Coach had successfully developed an exceptional brand image and values in the customers’ mind as always providing high-quality and staid designs rather than being considered as trendy and fashion.
The Organization Today
Lew Frankfort is the current Chief Executive Officer of Coach Inc. Under Mr Lew Frankfort, The Company has been transformed from a classic and staid manufacturer of leather goods into the premier American accessories brand. As of June, 2010, the annual reported Coach’s sales are around $4 billion. In addition, Coach also invested constantly into its market and product’s research and development. They aim to become a flexible and innovative organization that committed to satisfy customers and offer premier brand value. Coach also focuses on continuously developing strong customer preference by enriching product portfolios, modernizing stores, improving operational efficiency and international presence.
Current Coach Mission statement is that Coach seeks to be the leading brand of quality lifestyle accessories offering classic, modern American styling. This mission statement clearly indicate that Coach always focus on providing quality daily accessories while trying to continuously diversify its product...