COACH expands in China

It has accelerated its original plan for China (Mainland China, HK & Macao) :

     - In 2008, completed an agreement to acquire the Coach domestic retail business from ImagineX Group;

     - Now it reviews Chinese 2013 market share forecast : from 10% to 20% of its worldwide sales;

     - Objective : to become one of the top 3 imported handbag and accessories brand;

     - It plans 15 openings in 2010 :

          > will open a 7,000-square-foot flagship in Shanghai (Huai Hai Middle road) in April

According to research conducted by Coach on Chinese consumer :

     - Buying habits differ from those in Japan or the U.S.

     - They are more open-minded about brands;

     - They appreciate Coach as a relevant brand and not using it as a stepping stone into European luxury brands;

     - Repurchase intend is 94% higher than in the U.S.

2009 net sales reminder :
     - USA : $2,3 billion (72% of total sales);
     - Japan : $670 million (21% of total sales).