comes home
“The Coach brand stands for authenticity, innovation, and relevance.�
About Industry Profile History Brand Repositioning Target Consumer Advertisement Campaigns Store Design Events Collaborations The Home Collection Competitor Analysis
Founded as a family-run workshop in Manhattan, Coach represents a brand whose craftsmanship skills have been handed down through generations to create quality and durable goods. Today, their corporate headquarters remain where the business first began on 34th street in mid-town Manhattan. Publicly traded as COH on the New York Stock Exchange, the company operates nearly 1,000 stores worldwide. Exculding department store boutiques, there are over 500 sotres in North America, 450 in Asia, and over 25 in Europe. They operate e-commerce website in the US, Canada, Japan, and Chine. As they continue to expand, they focus to increase their presence in the Asian and European markets while building a lifestyle brand. Producing over nine billions dollars in retail sales in the United States alone, the handbag industry is on of the most profitable and challenging markets to compete in. Coach has positioned itself within the luxury segment of the specialty retailing industry. It has situated itself in such a way that by offering a variety of products at multiple price points, they are able to cater to a broader audience of customers. Despite their classic styles, many handbags are rotated after a month and are ultimately fashion items in an ever-evolving industry.
1941
Coach is founded
1959
Coach logo introduced
1961
Bonnie Cashin hired as designer
1963
Coach run its first ad in The New Yorker
1979
Lew Frankfort joins Coach
1985
Coach sold to Sara Lee
1993
Reed Krakoff hired as designer
1996
Lew Frankfort named Chairman and CEO
2001
Coach launches Coach Signiture collection
2006
Legacy collection debuted
2013 Victor Luis named President and CCO 2014 Victor Luis becomes CEO and Lew Frankfort Executive Chairman Stuart Vevers hired as Executive Creative Director 2015 Coach purchases Stuart Weitzman
Brand Repositioning
Target Consumer Coach attracts consumers searching for affordable luxury. The merchandise appeals to both premium customers as well as those who aspire to shop the luxury market. Coach’s new image aims to attract the young creative professional looking to invest in quality pieces from a heritage brand. Fashion forward and tech savy, the new Coach consumer needs convenient yet fashionable products to suit his or her lifestyle. From bloggers, to young moms and businessmen, Coach is rebranding and producing products to fit the needs of the new consumer.
Age : 20’s to 40’s Income : mid to high level Profession : young creative professional Activities : Attending gallery and exhibit openings, tweeting, dining with friends, blogging, biking as means of transportation, grabbing a beer with friends, reading Tolstoy, traveling cross-country
the new It Girl
the Urban Man
Advertisement Campaigns “It was important that it felt true to the spirit of the new Coach girl, but even more importantly was for people to sense a change.� - Stuart Vevers
Showcasing the Fall 2014 ready-to-wear collection shot by photographers Steven Meisel and Joel Sternfeld
Store Design
“If you’re a Coach loyal customer and you walk in, it may not feel like what you’ve experienced for the last ten years, but it may feel better.”
New store designs by Stuart Vevers, exceutive creative director, and interior designer William Sofield.
Events
Collaborations
For Spring 2015, Stuart Vevers collaborated with LA-based artist Gary Baseman to creat unique and whimsical designs for the ready-to-wear collection.
“Building upon our strong brand and business equities, we are in the process of transforming from an international accessories business to a global lifestyle brand, anchored in accessories, presenting a clear and compelling expression of the Coach woman and man across all product categories, store environments and brand imagery.�
The Home Collection This collection will mark Coach’s launch into the home market and their becoming a lifestyle brand. Already offering travel bags, accesorries, and fragrance, their next step is into the home market. By launching a home line, Coach is creating a new platform to showcase their new image while giving loyal customers the chance to bring their favorite brand into their home. Coach will use this new merchandise platform to attract the new customers they desire in a completely different and new market. As they work to become a global lifestyle brand, they must begin offering the products for their customer to fill his or her life with. The classic yet youthful style of the home collection will appeal to Coach’s current customer while attracting the new, artistic, young professional they are hoping to gain.
Spring 2016 Collection Coach’s first home collection will launch worldwide in their flagship and retail stores as well as select department store boutiques worlwide. The collection will be showcased in the retail stores and will be incorporated into the store decor. The contemporary designs will continue to display the craftsmanship and qaulity Coach is known for and will incorporate classic Coach elements such as leather and metal hardware. The Spring home collection is meant to be stylish yet practical. These pieces are designed to appeal and constructed to last.
Printed Silk Pillows
Needlepoint & Leather Coasters
Woven Picnic Blanket
Competitor Analysis Strengths - international brand recognition - powerful company and industry presence - existing brand loyal customers
Weaknesses - people not percieving the Coach quality in the new products - too much focus on Coach’s past brand image rather than their new brand identity
Opportunities - loyal Coach customers expanding their purchase assortment -attracting new customers to the brand - showing off the new image on products not already known and previously branded by Coach
Threats - poorly recieved - harm the Coach’s image and rebranding - strong competition
Expensive
Lower Quality
High Quality
Less Expensive
Bibliography
“COACH: Coach Rolls Out New Retail Concept.” COACH: Coach Rolls Out New Retail Concept. N.p., n.d. Web. 11 May 2015 “Coach’s Pricing Strategies And Target Market.” Yahoo Finance. N.p., n.d. Web. 14 May 2015. “Coach’s Successful Outlet Business May Turn out to Be a ‘hurdle’: Analyst.” Behind the Storefront RSS. N.p., n.d. Web. 11 May 2015. “Premium Brand Power: An Investor’s Guide To Coach.” Coach’s Pricing Strategies And Target Market. N.p., n.d. Web. 11 May 2015. “Retail Sales Value of Women’s Handbags in the United States 2014 | Statistic.” Statista. N.p., n.d. Web. 9 May 2015.
Emily Irons