Light Luxury Brand COACH Pformation In China To Promote New Retail Concept

Recently, the United States

Brand COACH has undergone a series of changes in Beijing: the store in Oriental Plaza is completely new.

At the same time, Beijing Xintiandi store is unveiled with a new look. Consumers can buy the limited number of ready-made garments that are available to only 40 stores worldwide.

These changes mean that COACH has embarked on the road of brand pformation in China.

This year, there has been a slowdown in China's luxury goods market. Some of the previously optimistic brand performance is also facing a sharp decline.

In response, Yang Baoyan, President and chief executive officer of COACH China, said: "China's retail environment is becoming more and more complex and consumers are choosing more and more."

COACH still has confidence in the Chinese market.

COACH's sales in the Chinese market in the first quarter of fiscal year 2015 increased by 10%. The company thought it was in line with expectations.

Yang Baoyan believes that the Chinese market is the single regional market with the greatest potential for growth in COACH business, and is also the third major market in the world after the US and Japan.

According to the survey, there is a slowdown in China's luxury goods market. China's luxury accessory market will grow from $5 billion 200 million in fiscal year 2014 to $9 billion in fiscal year 2019, and the global share will also rise to 16%.

In China, COACH hopes to steadily push forward the brand pformation strategy and enhance its market share in China.

China's sales in the 2015 fiscal year are expected to reach US $600 million, up by 10% over the 545 million US dollar in fiscal 2014.

Reporters also learned that COACH plans to open about 20 new stores in China in fiscal year 2015 (about 10 net), most of which are located in mainland China with high potential and high population density cities (such as provincial capitals and inland cities), and through the introduction of new retail concepts, optimize stores and enhance customer shopping experience.

China's retail environment is becoming more and more complex and consumers are choosing more and more.

According to the company's research,

It accounts for about 18% of the global high-end bag Market and nearly $7 billion.

Men's consumption accounts for more than 1/3 of China's luxury bag market share, which is higher than the global average and is growing rapidly.

In the first quarter of fiscal year 2015, we began to walk in China.

On the road of pformation, most of the 136 COACH stores in mainland China are mixed stores for men and women's products.

The Chinese market is the single regional market with the greatest potential for growth in COACH business. It is also the third major market in the world after the US and Japan.

In the 2015 fiscal year, most of COACH's new stores in China will be mixed stores for men's women's products.