Coach announced plans to produce more luxury, higher price point leather handbags last summer. Now, in an interview with WWD, chief executive officer Victor Luis has confirmed that prices are set to soar even higher.
While Mulberry has decided to introduce a slightly cheaper leather handbag collection, Coach clearly prefers the Louis Vuitton approach to sales.
"In the U.S., the $300 price bucket will be at the centre, but we'll continue to increase the number of stockkeeping units in the $400-and-above price bucket," said Luis.
Translation minus the dollar signs and business chat?
Coach won't be dropping its best selling bucket bags, but new designs? They'll be coming it at higher prices to compete with brands like Hermés, Chanel, Chloé and Céline, rather than the more affordable likes of Michael Kors and Kate Spade.
Though the plan is apparently to remain the 'world's number-one affordable luxury brand', you can expect to see a lot more from Coach in the way of £700 plus handbags, compared with the £300 ceiling it's been working under up until now.
So what do you think? Will you shell out more money for Coach? Tweet us @handbagcom
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