Published on February 27, 2014
COACH STRATEGY TO PERPETUATE SUCCESS Prepared & Presented by Joshua Dopkowski Hilton DePaoli Gustavo Martinez
SITUATION ANALYSIS 65 year old company committed to the luxury handbag and leather accessories industry. Globally recognized luxury brand. In 2006 the global luxury goods market is estimated to be $112B. 49% of global luxury goods produced by France & Italy. US companies only account for 14% of global luxury goods. Coach revenue has increased by 24% over the last 8 years.
SITUATION ANALYSIS Primary competitors are Georgio Armani and Dolce & Gabana, with other notables LVMH, Versace, Prada, Burberry, and Hugo Boss. Coach is segmented into tiered distribution with full-price fashion and flagship stores, factory stores and U.S. wholesale to retailers. Coach successfully rivals the competition by offering accessible luxury to the upper and middle classes. Coach’s suppliers have low bargaining power.
PROBLEMS & CORE ELEMENTS Lack of presence in global and emerging markets. • Non U.S. & Japan sales only represented 5% of total sales. Market segmentation and focus. • Tiered distribution strategy. • Women’s accessories sales concentrated in 35yr – 45yr age range. • Men’s accessories and outerwear accounted for only 2% sales Growth model vs. Brand Equity/Brand Identity. • Ecommerce & tiered stores system.
PROBLEMS & CORE ELEMENTS Luxury spending is shifting geographically to BRICS Market volatility in the global luxury market. Unprepared for future growth markets. New product lines not performing, Coach not “vested.”
COURSE EVALUATION Increase store presence domestically and internationally. Licensing for strategic partnerships and market penetration. Increase presence in Men’s and Luggage categories. Aggressive marketing campaign to maintain brand dominance. Focus on in-store experience and hospitality training. Formulate and execute operations initiatives designed to increase efficiency, minimize exposure and support diversification and distribution to new and existing markets.
CHOSEN STRATEGY Formulate and execute operations initiatives designed to increase efficiency, minimize exposure and support diversification and distribution to new and existing markets. • PRIMARY DRIVERS: • Manufacturing alliances help control cost structure and reduce distribution costs in various global markets. • Focus on distribution strengthens the infrastructure for Coach stores and solidifies relationships with travel retail and retail partners. • Builds foundation for penetration into emerging markets.
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