Aunt Version Coach Forced Offline Global Pformation Strategy Open

Coach's flagship store in Hongkong square in Shanghai has refurbished two times in the past year, and the latest is to match the brand's global pformation strategy.

In November 15th, the shop reopened to greet guests.

Unlike the bright colors of the past, new stores use black wood, black steel, ancient bronze and other materials. The first floor of the door displays handbags that are familiar to Chinese customers, and the two floor is made up of ready-made clothes and shoes. The soft fitting is suede leather and suede spliced shoes, long stools, club chairs and fabric sofa.

"New shops must reflect the image of modern luxury.

The entire luxury industry is changing rapidly.

If you don't follow suit, you will soon be out. "

Yann Bozec, President and chief executive officer of Greater China, Yang Baoyan, said in an interview with an interface journalist.

It has been one year since the announcement of the pformation of the US listed company. The three pillars of products, stores and marketing are all involved.

After several consecutive quarters of revenue slump, the latest 2016 fiscal year first quarter financial results gave investors a shot in the arm. In the three months ended September 26th, the company's performance improved significantly, with net sales of $1 billion 30 million (or 6 billion 540 million yuan), down 1% from the same period last year, rising by 3% over the same period.

Although many doubts from investment banks and advisory bodies have not been dispelled,

It is said that such a pformation speed is expected, and stressed that the original planning cycle is three years.

"We can not say that this road is one hundred percent correct, and there is no need to amend it.

But so far we are very satisfied with the status quo, and the fashion of Coach has been shaped.

Bozec said.

The US brand that has been founded for 75 years is closely related to the change in the trend of global luxury consumption.

The Logo wind that has been popular in the early days has been relentlessly thrown away by consumers, and Coach, which has stayed in place, has encountered bottlenecks.

Coach pair

All these changes seem quite satisfactory.

Victor Luis, the chief executive of the brand, has almost every mention of his speeches. At the latest earnings conference, he said, "the new products designed by Stuart Vevers, especially the Ace and Nomad packages introduced in the retail stores, and the Blake handbags launched by the special stores, are welcomed by customers all over the world."

Making clothes is a smart way for fashion brands to re-establish their image. In 1997, Marc Jacobs also created a clothing series for LV and successfully pformed LV from a traditional luggage brand to a sexy fashion house.

Coach is also trying to deliver a clearer look through a richer product line.

Before that, when people compared their styles of Michael Kors, Kate Spade and Coach, the first two were ready to come out, simple occupation and bright and lovely, but often on the last brand.

The situation is changing now.

Take the latest series released in New York fashion week in September this year, with short skirts and small pieces of flowers.

I am keen on leather, wool and other fabrics.

You can say that these women are capable and able to see their romantic feelings.

In the 2011-2012 years, Coach's share of the American handbag Market has shrunk from 19% to 17.5%, according to EU consulting.

Its Michael Kors climbed from 4.5% to 7%.

In the 2014 fiscal year, its net sales even declined, from $5 billion 80 million to $4 billion 810 million.

Even the otter discounted stores, which used to be crowded, showed an increase slowdown, falling from two digits to 7.3%.

In June 2014, Coach announced the pformation plan: the global fashion lifestyle brand.

At the beginning of this year, Coach bought the shoe brand Stuart Weitzman, famous for its "5050" women's boots, in order to enhance synergy and enhance overall influence.

The responsibility of pformation first fell on the creative director Stuart Vevers who was a new director at that time.

Just like Marc Jacobs in LV and Tom Ford in Gucci, creative directors are usually the key to success or failure at the critical juncture of brand change.

In September 2013, Stuart Vevers, the creative director of the Spanish luxury brand Loewe, officially took charge of the Coach design team. The former owners of his resume included Mulberry, Givenchy, Louis Vuitton and Calvin Klein.

Soon, the handbag brand waved goodbye to the old Auntie wind.

What's more, Coach's product line has become more and more popular under Vevers, extending to clothing and shoes.

Last February, Stuart Vevers released the first women's clothing series during the fashion week in New York. The handbag as accessories has officially entered the era of "no Logo".