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Light Luxe Revolution: Become A Luxury That People Can Easily Get.

2014/8/1 18:29:00 104

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Luxury Light Luxury Change Luxury Light Luxury.

The risk of change in Coach comes first from competition, followed by the wrong shop location, and the wrong choice is made in the wrong place. The third is the lack of talents. 
 in the bustling backstage of New York fashion week COACH show, it is easy to find something missing: the new bag on the shelf has almost no obvious logo, which is absolutely different from the season. The model on the T platform is like Broolyn from New York in the 70s of last century. 
 this show is based on the Oregon Street photo taken by Joel href= "http://sjfzxm.com/news/index_s.asp" > photographer < /a > Lou Sten Field Joel Sternfeld in 1979. The whole product series is young and full of fashionable Street elements. "A" On the press conference, the COACH coat has never been the protagonist. The suede turn hair collar coat, the thousand bird pattern button button jacket and the short jacket are mostly made of wool, leather and sheep skin. Each piece is very durable and some styles cost up to 3000 dollars. Accessories and handbags are another highlight -- they have no obvious LOGO. It all seems to remind you that this is the first show of Stuart Vevers after becoming the creative director of COACH, and is also the first test water for COACH in the clothing industry of Stuart. 
 a few months ago, "a href=" http://sjfzxm.com/news/index_s.asp "Stuart road", "/a", from Madrid to COACH, he lived in New York West Village apartment, calling herself "the spectator of American fashion". He has been the creative director of Loewe and Mulberry, and has worked in Calvin Klein, Bottega Veneta, Givenchy and LouisVuitton. He is also the winner of the British Fashion Association's best accessory Designer Award. 
 for Stuart, the arrival of Stuart's road is right at that time. He has a good interpretation of the positioning of COACH's "modern luxury" - in his view, it means effortless, New York and style. In the process of making the sample, Stuart road worth went to the factory in Tennessee to understand the production process of the original tooling, so as to rebuild the classics more accurately. The New York metropolis also provided many design inspirations for him. He thought about whether he wanted to make high heels, but the girls from the street told him that this was definitely not their style, so the wool side boots replaced high heels. 
 predicament 
"P" Stuart road VIS is the most popular figure in the current fashion circle, people expect him to become COACH's Tom road Ford (TomFord). Despite the disappointing performance of the core women's handbags and accessories, the COACH of the light luxury king has turned into a lifestyle brand in the past year, which has led to a crisis. In the third quarter of fiscal 2014, COACH North American same store sales fell 21%, which has been a decline for more than four quarters - and it will continue. COACH expects total revenue in the 2015 fiscal year to shrink by 11% to 13%, much higher than previously expected 2.3%. Today, its market capitalization is only 9 billion dollars, even less than half of the new luxury Michael Kors. 
 Stuart road worth has to reverse all this. The new design must be consistent with the history and trend, and it can not reduce its value or damage its image. To achieve this, he must develop new sources of leather, cloth and accessories, and renegotiate contracts with suppliers. In addition, he has to complete the most arduous task - striving to regain the favor of former fans. In the latter view, COACH is either too outdated or too flashy. 
 pessimistic, the prediction of LV M H group president Bernard Ruano Te (Bernard Arnault) seems to have been fulfilled. Arnott once said that light luxury brands are not exclusive, so they can easily expand rapidly in a certain period and then decline rapidly. It has its specific market, but it is hard for a brand to last. 
 ironically, the decline of COACH is not caused by the decline of the consumer market. In fact, the global accessories and handbag industry is still one of the fastest growing sub sectors of the retail industry, with an annual growth rate of 7%. The total market capacity will grow from the current US $35 billion to US $50 billion in 2018, while the COACH composite market growth in the North American market is 9%, higher than the industry average. Even so, COACH's market share has been greatly eroded and its market share has dropped to 22% from 30% a year ago. For the price alone, the average price of COACH is between 300 and 400 dollars, about two times that of Michael Kors. But in the eyes of critics, COACH is not winning the design and brand power. 
 however, in COACH global CEO Victor Luis (VictorLuis), the luxury industry that is known for its rise and fall cycle is nothing but a battle scar. Similar rescue scenes were staged in Hermes and Burberry, Hermes CEO made way to Dumas Road (Jean-Louis Dumas) in Hermes, Burberry CEO Ross Lou Mary Lou Bula Ve (RoseMarie Bravo) in Burberry was also the case in Louis. Both of them are in the depths of darkness to turn the tide. Can Victor Luis become the white knight who lights up the dawn? COACH needs gradual reform instead of a cut off revolution. Victor Luis knows this very well. "This is not a complete departure from the past, but gradual evolution. Understanding the genes of the brand is very important, and then you have the ability to evolve. " He said to Global Entrepreneur. 
It is not easy to understand COACH gene by P. If you have to choose a collection representing COACH, Victor Luis's choice will be Bonnie Cashin Shopper handbag. It is designed by designer Bonnie Luca Sin (Bonnie Cashin). The cortex is very soft and textured. "They have an unequivocal clarity, freedom and happiness." Fashion writer Bo Nadine Lou Morris (Bernadien Morris) commented so. Today, many brands are using the Bonnie Cashin Shopper handbag similar to the type, even the handle structure, logo location is very similar. 
COACH under the P crisis is no longer just a fashion handbag accessory brand. It has begun to offer more products from clothing to shoes, from head to toe. At present, one of the most important tasks of Victor road Lewis is to describe COACH's operation situation and direction to Venus. Only in this way will new products burst forth. Victor Luis has realized how to balance the designer. That is, "you don't need to tell them what to do, but to help them see the market and operation of the brand." 
 in the opinion of critics, it is particularly urgent to invest heavily in designers. "Since listing, COACH has been making large profits every year to share dividends and buy back shares. The annual R & D investment is too small, which makes it impossible to retain or introduce good designers, and products are not new. Yang Shu, an asset management consultant at Merrill Lynch International Investment Department, said to Global Entrepreneur. In addition, the problem of COACH lies in its unclear location. "The price is too high and the style is too old-fashioned in low-end light luxury products, but the high-end products are not high-end enough compared with the top brands. 
 "this kind of wall is finally reflected in bad store operation. At the COACH analyst conference not long ago, the management predicted that the same store revenue in the North American market could be more than 20% negative growth in the next fiscal year, and it had to close 70 stores. Investors are worried about this, and COACH's share price also fell by more than 10%. 
 COACH declining trend, but tit for tat is MichaelKors, Kate Spade, Tory Burch and other similar competitors sales rising steadily. What is amazing is that these competitors and COACH's strategy are unique: Pricing for the people and multi-channel sales. They can even provide richer product lines than COACH and show people in a younger and more fashionable manner. By contrast, the latter has been old. 
 COACH has tried to fight back. In the summer of 2012, the Legacy series, priced at $398 to $1400, sold 20% of its handbags for more than $400. In October 2013, COACH launched a series of simple high-end Borough handbags in New York. The packages are divided into large, medium and small sizes, and the most expensive ones are close to $1200. But even with such a high profile, COACH is still unable to sustain growth. 
 this has led to COACH management in the past four years has been in turmoil, from men's clothing, women's clothing to creative director and so on. In 2010, it dug up Converse Jeffrey from Uhl to develop the men's accessories series. This business has been very successful, and COACH has increased investment two years later. In the 2013 fiscal year, the sales of men's products reached US $600 million, a 6 fold increase over the 2010 fiscal year, which contributed 12% of total sales to COACH. Nowadays, COACH retail stores have special windows and entrance display men's series, and even occupy about 1/3 of the storefront space. In addition, COACH also invited Sandra Lou Hill Smith Sandra, a creative director who has been a creative director of Paul Smith for 16 years, to set up a women's wear team and launch such products. 
Why do COACH still turn around and lack of technology in such a multi pronged way? The root of P lies in the fatigue and consumption upgrading of the North American market. He Bin, general manager of the former Kiton China, believes that the market environment of every region has its own characteristics, and the preferences of the vast majority of consumers in the region are the key factors to decide whether or not a certain brand in the region will succeed. "In the North American market, COACH has been developing for many years and is itself a local brand. As the brand matures, the freshness and sensitivity of consumers will gradually decrease. He Bin said to Global Entrepreneur. Zhang Peiying, analyst at Bank of America Merrill Lynch, believes that the development of luxury goods market in Europe and the United States has matured. The golden age of luxury brands is booming, so consumers will be more inclined to high-end luxury brands. 
Less than P, the successful launch of gorgeous fashion series or men's category is still a drop in the bucket for COACH. It is doubtful whether COACH can make a comeback in the global consumer economy. For a long time, Chanel and Hermes have been at the top of Pyramid, while Michael Kors, Kate Spade and Tory Burch are sticking to the low end of light luxury goods. It is hard to believe that brand spanformation can be successful by replacing the creative director and launching several new products. 
P sometimes changes may even worsen the situation. A failure case is the spanformation of JC Penny. In 2012, after the new CEO Ron road Johnson (Ron Johnson) came to power, she hoped that JC Penny would get rid of the image of past discount department stores. He eliminated the discount coupon and reintegrated his brand. But in the end, customers did not buy it. JC Penny still had a sharp decline in same store sales, and the company's stock even shrank by 70%. Ron Lou Johnson was finally forced to step down. 
Victor Luis P should avoid repeating similar mistakes. He has been in charge of the Japanese market for ten years, and he has done great work. On its terms, COACH's market share has risen 7 times. In the Japanese market, its product awareness is close to 70%, while in China, this figure is only 16%. 
 Victor Luis is so impressive. In 2010, he was recruited to the United States by the then chairman and chief executive Lou Lou Frankfurter (Lew Frankfort) and promoted to President of the international retail business and resident in the United States. This puts pressure on him. In order to adapt to the new role, he must quickly spanform into an all-around player, such as learning how to manage the supply chain and manufacturing staff. In addition, he also needs to coordinate the board of directors, shareholders and investors. 
Under the pressure of P, Victor Luis had to ease his emotions with the marathon. In the past year, he has finished five times. When running, he thinks about internal problems such as team, talent, organizational structure, competition and so on. "Taking part in a marathon is like competing with other competitors. It is like a journey in life. When you encounter a slope, you must strive to climb it. If you run too freely, the game will shuffle again. Victor Luis said. He has a sense of anxiety. 
 this may be related to its growth experience. His father was a Portuguese who lived on agriculture and fishing. When he was 7 years old, he immigrated to the United States with his parents. His parents did not speak English or had any higher education. After landing, all the family members had only one package, one suitcase and 5 dollars in their pocket. To earn a living, they had to go to work in factories. This is a difficult time. 
 Victor Luis can live in a high position and start from scratch. He spent decades building it, knowing that it was much faster to lose. COACH CEO will open up a new life. He must defend it. In fact, he has been preparing for the role of CEO: "you must have enough understanding and love for the brand; have enthusiasm for the retail industry; keep curiosity and curiosity; be good at listening to other people's suggestions and improving them. In addition, we must be attentive and persistent.