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Coach, Inc., BeautyBank and Aramis & Designer Fragrances Announce the Global Expansion of Coach Beauty: NEW YORK, Mar 05, 2010 (BUSINESS WIRE) — Coach, Inc. (NYSE: COH), a leading marketer of modern classic American accessories, and BeautyBank in a combined effort with Aramis & Designer Fragrances, divisions of The Estée Lauder Companies Inc. (NYSE: EL) today announced their expansion plans for Coach Beauty. The companies plan to increase their existing fragrance and beauty line globally, with immediate plans to enter North American department stores and specialty retailers, followed by a launch in global markets. Previously, Coach Beauty was available exclusively in Coach freestanding U.S. stores. The North American rollout will begin in March 2010 with the global launch to follow.
“We have been pleased with the customer reactions and industry reception that our fragrance business has garnered in such a short time,” said Kathy Nedorostek, President of U.S. Wholesale and Global Licensing for Coach. “This initial success in our own stores serves to underscore the potential for Coach Beauty with a more extensive distribution network and with the support of BeautyBank and Aramis & Designer Fragrances in heightening awareness.”
“Coach is an iconic brand with an extremely loyal consumer base and has proven time and again to be both relevant and innovative in today’s marketplace,” stated Veronique Gabai-Pinsky, Global Brand President, Aramis & Designer Fragrances, BeautyBank and IdeaBank. “We have a great opportunity to build upon the success we’ve seen with Coach Beauty by expanding our distribution here in the U.S. and around the world.”
The global expansion will begin in March 2010 with the launch of the Coach Signature Fragrance in Bloomingdales, Nordstrom, Macy’s, Dillard’s, Lord & Taylor, Von Maur, Bon Ton, Belk and Sephora stores nationwide. The launch will be supported by an integrated marketing and communications campaign, including widespread national print and web, among other media.
For nearly seventy years, Coach has been a classic part of the landscape of American design. Coach began with twelve eloquently simple bag designs with classic, well-balanced proportions. Over the years, they have expanded with each collection representing a unique synthesis of magic and logic that stands for quality, authenticity, value and a truly aspirational, distinctive American style.
BeautyBank is the entrepreneurial think tank division of The Estée Lauder Companies whose mission is to identify consumer-centric, opportunities around the world across product development, channel diversification and regional expansion and bring these concepts and brands to market through sustainable and profitable business models. The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Company’s products are sold in over 140 countries and territories under the following brand names: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, M-A-C, Bobbi Brown, Tommy Hilfiger, Kiton, La Mer, Donna Karan, Aveda, Jo Malone, Bumble and bumble, Darphin,Michael Kors, American Beauty, Flirt!, Good Skin(TM), Grassroots Research Labs, Sean John, Missoni, Daisy Fuentes, Tom Ford, Coach and Ojon.
Coach, with headquarters in New York, is a leading American marketer of fine accessories and gifts for women and men, including handbags, women’s and men’s small leathergoods, business cases, weekend and travel accessories, footwear, watches, outerwear, scarves, sunwear, jewelry, fragrance and related accessories. Coach is sold worldwide through Coach stores, select department stores and specialty stores, through the Coach catalog in the U.S. by calling 1-800-223-8647 and through Coach’s website at http://www.Coach.com. Coach’s shares are traded on The New York Stock Exchange under the symbol COH.
Why People Trust Coach: Coach is a leading brand of quality lifestyle accessories that represents a distinctive American style. The brand reflects authenticity, value and inspiration. They believe in a responsibility to their customers through outstanding service and goods. The success of the company is grounded on their uncompromising devotion to honesty and fairness. Coach stands behind their products and they are active in helping with community efforts. They constantly challenge themselves to be the best in all aspects while staying committed to their customers.
April 19, 2010 – Resource: Businessweek
Luxury handbag maker Coach Inc. reports its fiscal third-quarter results before the market opens on Tuesday. WHAT TO WATCH FOR: Any sign that consumers are perking up and buying higher-priced handbags at full price. Luxury retailers were hit hard during the recession, but Coach Inc. responded by lowering the prices on some of its handbags and cutting costs, and that has helped its results. But a rebound in demand for higher-priced handbags could be another sign the economy is recovering.
WHY IT MATTERS: If consumers are willing to spend on higher-priced non-necessities, that’s a positive sign because consumer spending — including major items like health care — makes up 70 percent of U.S. economic activity. WHAT’S EXPECTED: Analysts polled by Thomson Reuters expect a profit of 46 cents per share on revenue of $809.7 million. Analysts typically exclude one-time items. LAST YEAR’S QUARTER: Coach earned 38 cents per share, excluding one-time costs related to its cost-cutting plan, on revenue of $739.9 million.