Not finance Coach popular financial source from the Hong Kong-listed

Who would believe that Coach (COACH) listed in Hong Kong on this matter from the aircraft a "brainstorming."
Coach Lew Frankfort, chairman and CEO was like traveling in China. Once on the plane, his team began a "brainstorming." There are currently Coach Victor, president of the International Department of the retail business
Luis, Chief Operating Officer Jerry Stritzke, and so on.
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Weight bottom plate force recovery of Disclosure in stock over 500 ten shares into cash cow stock market to new lows 37 4 industry was "victimizes" sponsor direct investment brokerage Kuangzhuan 2.1 billion this year [date] Ba: Resolution 7 economic data on [stock it] is not clearing the bar waiting to be cut soaring dark horse to capture trends analyst Lew mystery found in China talking about tourism opportunities, how to make Coach brand started in China. We put the discussion, dig a lot of good ideas, open new stores, advertising, manufacturing the news about Coach ... ... Victor suggested, perhaps with a new way. We think the market.
Victor believes that market can not only launch news topics, enhance brand awareness, also closely linked with China at economic level. Active corporate citizen, but also to our partners to see Coach new trends.
Lew on the spot answer, I have to consider it seriously.
He never liked to act rashly. He spent several months full time to consider. Done it many times during the study, the final decision to go to Hong Kong market.
Victor said, in fact, originally thought the best place of listing in Shanghai, but because there is no out of Shanghai outside board.
Two months ago, Coach and HKEx have had a formal meeting and expressed interest in listing in Hong Kong, HKEx has been no unexpected support.
HKEx Listing Promotion Department is now confident the introduction of a luxury brand. The head of a blue-Bowen project two weeks half of the large-scale promotional activities, went to Italy, France, Britain, Greece, etc., to attract overseas companies listing in Hong Kong. Which will promote two main industries, luxury goods, and mining, natural resources.
Not finance
Victor Luis 2006 served as president and CEO of Coach Japan, speaks fluent Japanese. He will Coach in Japan market share from 9% to 17%, Japan's second largest imported handbag and accessories brand.
2010, Victor Luis rose to president of Coach International Department of the retail business, managing the company in mainland China, Hong Kong, Japan and other markets of the Direct business. He was ambitious, looking to replicate the success in Japan to the Chinese market. Coach plans to fiscal year 2014, the Coach in China's luxury market share increased to 10%, reaching $ 5 billion in size.
Commented that the Chinese market, Coach is moving in its own set of "close at hand and the luxury" target bolted. Coach once a crisis in the United States, even when 1999 and 2000 growth is negative. 2000 Coach on a large scale change, re-positioning internal discussions, we write on the blackboard a lot of terms, phrases, and finally select the "close at hand and luxury."
Top business centers in Shanghai - Nanjing Road shopping district of the important position, Wheelock Square office building, home to the first 20 floors Coach China area, home to the first layer 32 from Italy Ferragamo, home to the famous 33-layer British Burberry.
Coach team started in China, China's brand awareness to do a lot of preparation. Listed in Hong Kong before the end of implementation is one of them. Coach will become the first in both Hong Kong and New York-listed American institutions.
However, Coach does not therefore additional shares, nor did the financing plan. Can be listed in Hong Kong is primarily a marketing, not finance.
Victor said, Coach itself there is no debt, cash flow performance is very good, so in fact do not need financing, mainly listed in Hong Kong hoping to let Coach of the employees, and partners in China, department store owners, even the Chinese government Coach departments can further see the importance of and commitment to the Chinese market.
In addition to listing in Hong Kong in addition, Coach China, the team are doing a lot of other work to increase brand awareness. This year is the 70th anniversary of the birth of the Coach brand, has invited the United States were personality temperature Paltrow (Gwyneth Paltrow) as global brand ambassador Coach.
Coach New York and China, listed in Hong Kong earlier heated discussion when the current China President and CEO Jonathan Seliger did not know, he just took office in December 2010.
If this is a battlefield, hearty laugh from time to time Victor is like a "field school" general, like the breath impromptu presentation more than three minutes, extremely rich. Young gentleman newly appointed Jonathan, careful thinking, more like a "academic." His intervention in the market reputation and brand-building areas, college major was Oriental art.
Coach 2009 is a breakthrough, although back in 1998 entered the Chinese, but the mode through distributors, and Hong Kong Imaginex Group cooperation. Jonathan said, to a certain extent it is necessary to control their destiny by themselves. Therefore, in 2008, Coach recover first business in Hong Kong, to April 2009, officially the recovery of China's business are its own.
Victor said, when it took over at the time, Coach in China's main income is about $ 50 million but has now reached 185 million U.S. dollars.
Jonathan said, Coach of the factors that first attracted him very aware of their position in the market, and the future direction of development, which may benefit from Coach has been conducting large-scale market research. Coach is all luxury goods companies throwing money up to the consumer market research company, to invest $ 5 million per year in the consumer research area.
Shanghai Hong Kong Plaza, located in the Coach flagship store, consumers can find a lot based on an investigation into the design. Such as the survey found that relatively few Chinese people's credit card and cash more than the combined face value of U.S. $ RMB small, so the shop more than men's wallet card port, but the cash mouth is very thick.
There is also a most different from the luxury brand's place is in Europe, Coach introduced new products every month, instead of "season" for the cycle. Each month, the amount of new store up to 10%, or 20%. With the new shelves, which means some of the old models to be taken off, this part of the product will be placed in such a channel sales outlets.
Jonathan talked about China, the strategy is very excited. He said, Coach in China, whether in the distribution channel, brand positioning, brand awareness and build so there will be strategic. For example, in distribution, the decision not to adopt the franchisee system. To the end of fiscal 2011, Coach in China will have more than 60 stores, including 53 in mainland China. And in this fiscal year, opened 24 new stores planned in the next fiscal year, 30 new stores.
About OEM
Jonathan did not mind talking about OEM issue.
15 years ago, Coach came to China production.
Coach currently has 85% of production is conducted in China. However, due to have been foreseen, not only in the United States, including in Asia, sales are showing continued growth, it is necessary from now on, we should find some other production sites.
On the other hand, in response to China's raw material and labor costs rise, will seek diversification of production sites, and ways to improve production efficiency.
In Hong Kong, Coach has a 200-person team, primarily responsible for the supply chain situation. Therefore, the China CEO is not in China's production is directly responsible.
Victor stressed, although the origin in China, but production of bags and other goods can be produced on the assembly line is not the same, Coach of the needs of each package or by hand. Whether the cut leather, or the placement of the handle to the bag, and even nail bag inside the package card.
Victor said, to find a qualified worker is not easy, it is impossible to casually put production base changed from one place to another place, to establish a production base at least take three years to prepare.
In the Coach bag inside, will always see a tag stating "This package is in China, by the best craftsmen carefully craft made of." Victor said that unlike some European brands, even if they have been manufactured in China, or will hide the facts, will package the information hidden in the inside liner, allow consumers to see.

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