| Since founded in 1941, Coach enjoys great popularity | | | | world-renowned brand. However, in the middle 90s, |
| and maintains a profit margin several times higher than | | | | because of dramatic changes in working environment, |
| competitor designer brands. Nevertheless, not | | | | business casual wear was big that time. But Coach still |
| everything goes smoothly for the luxury handbag and | | | | clinged to its outdated goods and did not offer the |
| accessories manufacturer. Although it did a marvelous | | | | fashion products, such as leather and fabric bags. As |
| feat for so many years, in the middle and late 1990s, | | | | a result, Coach failed to compete with Prada, Gucci |
| Coach witnessed a dramatic recession in sales. | | | | and Kate Spade. |
| Coach was founded in 1941 by 6 artisans under the | | | | Faced with the challenge, Frankfort launched a series |
| name Manhattan Leather Bags. One of the company | | | | of expansions and innovations. He hired the newest |
| founders was impressed by the design of a baseball | | | | designers who breathed new life into the company |
| glove and it inspired him to create a handbag with | | | | and changed the image of Coach from a sturdy, basic |
| similar attributes. In 1962, Coach hired Bonnie Cashin. | | | | collection of tan, burgundy, black and navy briefcases, |
| Cashin breathed new life into the company. She was | | | | to a hip, stylish collection with new colors and styles |
| considered a pioneer in American sportswear due to | | | | every season, which greatly attracted a number of |
| her use of industrial hardware and organic materials | | | | young people. Moreover, in the fashion world full of |
| such as leather, wool and jersey. Riding the success | | | | change, Coach put its new product on the market |
| of Cashin's creations, the company gets to one of the | | | | every year. Meanwhile, the company outsourced the |
| top luxury brands. Although the new items add many | | | | manufacture and concentrated on product design and |
| fashion elements compared with its previous | | | | marketing. Therefore, at the end of 90s, Coach sprang |
| conservative series, the company still runs in the | | | | up again. |
| traditional way. | | | | Thereafter, the annual profits have been soaring. In |
| During 70s and 80s, the market demand for Coach | | | | 2006 its sales reached US$2.1. Keeping pace with the |
| Products greatly exceeded the supply. In 1985, Coach | | | | times is the key reason why this company shakes off |
| became part of Sara Lee and in 1979, Lew Frankfort, | | | | the image of “only my grandmother buys |
| who today serves as Coach's CEO, joined the | | | | Coach” and successfully survives in the fickle |
| company. Frankfort transformed Coach from a | | | | fashion world with soaring profits. |
| little-known leather goods manufacturer to a | | | | |