Longtime American fashion stalwart Coach (NYSE: COH) is down some 12% right now, about an hour before the end of trading, as the company reported slower store traffic in its US retail stores. Could this be a sign that Coach goods aren't keeping up with the marketplace? Is Coach, as a brand, losing its cachet? What do you think?
Tuesday, October 23, 2007
Coach Stock Falls On Slower Store Traffic
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Referring only to handbags:
I think Coach appeals to a much younger demographic now, harming the brand's former classic image of quality leather goods for all ages of women. I associate Coach bags with overindulged high schoolers and generic sorority girls - who else do you see carrying Coach these days? I've lost respect for the brand in recent years thanks to all their sloppy pastel monograms, patchwork, sequins, etc that keep showing up every season. They're only slightly less tacky than all those hideous Dooney bags loved by tweenaged Lohan-wannabes. I find most of Coach's recent designs rather obnoxious and unimaginative. I actually did like the Legacy line when it was introduced, until I saw the price and thought, "way overpriced for uninspiring quasi-designer bags; why would anyone spend $1000+ on a Coach?!?" Even at lower price points, they're competing with much trendier, newer brands like Kooba and affordable, mass-market designer brands like Marc by Marc Jacobs. But then again, I haven't set foot in a Coach store for over a year so what would I know?
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