Leather Brand Coach Is Optimistic About Chinese Market And Aims To Develop The Middle Class.

　　 High-end accessories production and retail Coach It is estimated that China's year-on-year sales will rise by 75% in fiscal year 2011.

"As of July, there are 25 new stores in China this year, so that the total number of stores in China will reach 65," CEO Lew Frankfort said in an interview with China Daily.

In 2010, Coach grew rapidly in the Chinese market. The annual report showed that the same store sales increased by two digits. and American market Sales growth was only 6.3%.

According to Bain's survey, China in 2009 Luxury goods The total capacity of the market is US $23 billion 300 million, and Coach claims to account for 5% of the total market.

Lew Frankfort said: "at present, the popularity of our brand in China is not very high, about 8%, and we decided to catch up with it. In the next 5 years, China will surpass Japan and become the second largest Coach market after the US. "

In 2010, Coach sales in Japan amounted to US $700 million and China was US $175 million, but Lew Frankfort hopes that China will surpass Japan as soon as possible.

In October, Coach said the next development strategy will focus on Asian market Before, Coach has entered the European, US, British, Irish and Portuguese market very highly.

Lew Frankfort also pointed out: "as the middle class grows rapidly, consumption will rise. China will become the world's first luxury market in the future, but at the moment it is just starting stage. "

　　 Coach also plans to launch the brand electronic shopping website in China in mid 2011.