A new director, a new style team, the spotlight on accessories; in one year 1.2.3 has completed a complete 180° turn. For next season, the off-the-peg brand is going one step further with American supermodel Missy Raider posing for its campaign.
U.S. leather goods company Coach Inc reported a lower quarterly profit, matching expectations, but shares fell 5.6 percent as investors worried about increased investments, including the launch of a new brand by its creative director Reed Krakoff.
For years Coach was synonymous with practical yet fashionable purses. With this month's release of the budget-conscious Poppy line, Coach, a luxury-retail marvel once ridiculed for being stodgy, will be increasingly associated with a new demographic: teens, coeds & grads.
Luxury goods groups admit they are reluctant to lay off key craftsmen in the economic downturn and some are turning to hiring and salary freezes as the makers of leather goods, jewelry, watches and cars await a recovery.