Coach Tries To Operate Network In China
Coach, an American handbag maker who just listed on the stock exchange of Hongkong in December 12th, announced today that it will cooperate with Taobao mall to open the official flagship store of Coach Taobao mall.
It is reported that this is the first online shopping platform opened by the brand in the Chinese market, and the initial trial period is one month.
Coach said it was the first official to open.
Shop
It will sell a series of fashion accessories and gifts for men and women, including handbags, accessories, coats, watches, jewelry and many other products.
The online store will operate from December 12, 2011 to January 15, 2012 and will be managed by the customer service team from Coach.
For the cooperation with Taobao mall, Mr. Jonathan Seliger, President and chief executive officer of Coach China, said, "this brand new online store will help us understand the needs and preferences of domestic online shopping customers, accumulate valuable experience and insights in the field of Chinese e-commerce, and establish long-term Coach online for our future market in China.
Sale
Channel ready.
According to NetEase finance, in December 2nd, Coach's Hongkong depositary securities was listed on the stock exchange of Hongkong as an introduction. It also made the company the first American company to list in Hongkong and New York.
Victor Luis, President of Coach international business, said in an interview with the media that it will accelerate the opening of stores in China and plans to open about 30 stores in China in the coming years. The new store will mainly open in two or three line cities.
He also predicted that coach's annual sales in the Chinese market would be expected to reach $300 million this year. The company strives to achieve annual sales of 500 million US dollars in 2014.
The company achieved a total sales of 185 million in the Chinese market in 2010.
dollar
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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 China's market sales has provided a major contribution.
Coach said that the first official online shop will sell a series of fashion accessories and gifts for men and women, including handbags, accessories, coats, watches, jewelry and many other products.
The online store will operate from December 12, 2011 to January 15, 2012 and will be managed by the customer service team from Coach.
In addition, at the beginning of this month, Coach signed a memorandum of understanding with Taobao to prevent the sale of Coach counterfeit products on Taobao.
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