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Article: That old bag? Coach sales slowAfter 8 great years, handbag maker's glory days are fadingMARKETPLACE by Bloomberg
- Article from:
- International Herald Tribune
- Article date:
- August 22, 2007
- Author:
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Cotten Timberlake
International Herald Tribune
08-22-2007
Shares of Coach, like its handbags, are losing their cachet.Some investors are betting that huge gains for Coach stock, which has increased to 22 times what it was first sold to the public for in 2000, are a thing of the past.While the maker of Soho and Ergo purses has dominated the market for $200 to $400 handbags for the past decade, Coach is winning fewer customers amid a market slowdown.In addition to cooling demand, Coach competitors like Liz Claiborne and Polo Ralph Lauren are spending more to market purses like Juicy Couture velour hobo bags and alligator satchels.Growth in the $7 billion U.S. market for handbags may fall by ...