The Personnel Changes And Adjustments Of Luxury Goods In China Are Huge.

In 2015, Chinese people continued to be the largest consumers of luxury goods and bought 46% of the world's luxury goods.

The 2015 China luxury report released by the Institute of wealth quality predicts that Chinese people will spend 117 billion dollars on luxury goods in 2015, an increase of 9% over the same period last year.

In recent years, some luxury brands in China.

The decline in its personnel changes and adjustments in China is also greater. Most luxury brands in China are mainly foreign executives.

But we also very much hope that people who understand the Chinese market will develop human resources and industry resources.

In order to increase China's insight into its third largest market, the US luxury goods Coach (06388.HK; COH.NYSE) announced in January 5th that it appointed the Chinese Dragon Yu as the board member of Coach company, and that the Coach board members increased to 9.

The chairman of the board of directors of Coach group is Jide Zeitlin, and other board members also include Victor Luis, David Denton, Andrea Guerra, Susan Kropf, Susan, Luis,

As a brand that has led the North American luxury handbag and accessories market, Coach's local market share is being squeezed by competitors like Michael Kors, Kate Spade and Tory Burch.

For this reason, Coach CEO VictorLuis has joined the creative director StuartVevers from Spain luxury leather brand Loewe to enhance the brand's fashion image and relevance, and to pform the lifestyle brand.

In June 2014, Coach announced a series of brand pformation plans to pform the brand positioning from "accessible luxury" to "modern luxury" lifestyle brand. While developing the original handbags and accessories, we should further develop clothing, shoes and other products, enhance the brand's fashion, and hope to win more consumers through the "three pronged" pformation of products, shops and marketing.

In 2015, Coach also purchased the global designer shoe brand Stuart Weitzman, which is sold in over 70 countries and their websites.

And the Chinese market was once

Global performance leader, but growth rate is slowing down.

As of the third fiscal quarter of 2012 fiscal year March 31, 2012, China's Coach sales increased by 60%, and then gradually slowed to 40% and 25%. In the third quarter of 2015 fiscal year ended March 28, 2015, China's regional sales increased by only 10%, and sales increased to 8% in dollar terms.

Stephanie Stahl, director of global marketing and strategy at Coach, said earlier that while China's middle class is increasing, the pace of urbanization is accelerating. The potential of China's two or three tier market can not be ignored. China has 200 cities with a population of more than 1 million, which is far more than that of the United States or Japan.

Coach expects China to bring about an opportunity of $1 billion in sales.

Zhou Ting believes that the Coach board of directors to attract Chinese people to join the dragon, it should be for China such a huge potential market has greater expectations, but also hopes that it will give advice and advice when it comes to China's global strategy.

Take the Internet business as an example, China's Internet retailing was developing rapidly. In August 31, 2015, it closed the Coach of the flagship store in Hongkong's central line, and officially opened the official flagship store on Tmall in September 4th.

This is also the time when Tmall flagship store has been launched again after more than 3 years. Coach told the first Financial Daily reporter: "China's e-commerce market is growing rapidly and has great potential.

It is one of the global strategies of Coach to fully explore the unlimited potential of digital domain, and also an important part of the Coach brand pformation journey.