Coach Intends To Go Deep Into &Nbsp, The Two Or Three Tier City In China, And Open 30 Stores In The Next Three Years.

With China

Victor Luis, President of Coach international business, the US handbag manufacturer, said in an interview yesterday that it will speed up the opening of stores in China, most of which will be in the two or three tier cities.

In recent years, China's consumption of luxury goods has increased year by year, and a large number of Chinese consumers are spending overseas.

To this end, including LV, Gucci, Hermes and other luxury brands have increased the layout of the Chinese market.

Coach is no exception.

Victor Luis, President of Coach international business, said the company feels that it is progressing smoothly in China.

By the end of this year, the annual sales of China's market will be expected to reach US $300 million, and the company will strive to achieve annual sales of US $500 million in 2014.

The company achieved a total sales of 185 million US dollars in the Chinese market in 2010.

Luis also revealed that in order to achieve the above three year goals, Coach plans to open about 30 stores in Huaxin every year in the next few years, and the new stores will mainly be opened in two or three line cities, such as Urumqi and Nanning.

At present, Coach operates more than 60 stores in China, of which seven are located in Beijing.

In the quarterly earnings report released by Coach last month, the company's first quarter sales amounted to $1 billion 50 million, compared with sales of $912 million in the same period last year, up 15% this year.

Net profit amounted to US $215 million, up 13.8% from US $189 million in the same period last year, which exceeded market expectations.

Among them, the continuous growth of sales volume in China and North America has made a major contribution.

In addition, Coach will be listed in Hongkong by the end of the year. Once successful, it will become the first US company to list in New York and Hongkong.

Some analysts believe that, from the perspective of marketing, listing has absolutely publicity effect on the company and can rapidly improve its popularity.