![]() ![]() The problem is that by keeping Wall Street happy, Coach slowly killed their brand. For a company like Coach, that means opening more stores, getting their product in more national chains, and selling more handbags. Place got hit by lightening, huh? Fuck you! Pay me. It reminds me of that famous scene from Goodfellas:īusiness is bad? Fuck you! Pay me Oh, you had a fire? Fuck you! Pay me. You'd better show incremental growth every quarter if you want to keep your stock price high. Now, no woman, with any fashion sense, would be caught dead carrying a Coach handbag.Įvery publically traded company has quarterly numbers to hit and can never, ever miss your targets. ![]() ![]() The store epitomized the high end lifestyle brand that Coach was at the time: A beautifully designed store on Michigan Ave with a young, hip staff and high priced merchandise with a limited supply and no discounts. I remember after college, my sister got a part time job at the Coach store in downtown Chicago. It was priced higher than the "nice" handbag that a woman would buy once a year at Macy's, but not as exclusive as a Louis or Chanel. Soon every high school girl, soccer mom, or woman executive had to have one. Then the Coach handbag came along and changed the game Back then, there weren't any high-end bags for normal women: No one had a Chanel and there weren't any high end "boutique" bags, like Celine, yet. Ten years ago a Coach handbag was the "it" accessory to have. ![]()
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