Mr Andre to identify new growth markets for Coach
Coach, a leading marketer of modern classic American accessories, has announced the appointment of Andre Cohen to President of Coach China, effective June 2009. Mr. Cohen will be responsible for developing, implementing and executing the company's China strategy, focused on raising brand awareness and rapidly growing distribution in this emerging market for luxury accessories. Based in Hong Kong, he will have responsibility for the strategic leadership and operating results of Coach China, including Mainland China, Hong Kong and Macau, reporting to Victor Luis, President and CEO, Coach China & Japan.
Since joining Coach in February 2008 as Senior Vice President of Coach International, Mr. Cohen has provided significant leadership to support its rapid expansion, identifying new growth markets building infrastructure and strengthening the team. His appointment to this critical role for Coach is a reflection of his accomplishments and extensive prior experience in the region building businesses.
Mr. Cohen originally joined Coach from Timberland, where he held the position of Managing Director, Asia Pacific, based in Singapore. During his six years with Timberland, he was responsible for the development of the brand and business in Asia, including the establishment and oversight of wholly-owned subsidiaries in Japan, Greater China, Singapore and Malaysia. Prior to Timberland, he held management roles with both Swatch Group and LVMH, based in Asia.
"We are extremely pleased that Andre will be leading our Coach China team. He will be focused on brand building, growing our multi-channel model and driving our business in the region, positioning us to achieve our target of $250 million in retail sales and 10% market share over the next five years.
Andre is a dynamic and entrepreneurial leader who has demonstrated the ability to build strong teams, retail businesses and partnerships to achieve outstanding results. His talents and experience qualify him to drive Coach's growth in the region as we continue to leverage the global vibrancy of our brand and relevance of our product offering," said Ian Bickley, President, Coach International.
Lew Frankfort, Chairman and Chief Executive Officer of Coach, Inc., added, “We're building a strong team to drive our nascent Coach China retail business - focused on accelerating growth in this emerging region for luxury accessories. Clearly, China is already becoming a significant market for imported brands that will grow rapidly over the next several years, as personal income and consumer spending increase to support the level of retail development that is already present in this market. Our goal is to become a leading fashion accessories brand in China and we have made great strides in the region to date.”
The company recently completed the acquisition of all Coach retail businesses in China and now operates 26 locations in the region. These are comprised of 8 locations in Hong Kong, 2 in Macau and 16 on the Mainland, including 4 in Shanghai and 4 in Beijing. The company expects to open about 50 additional locations in China during the next five years.
"Coach is a brand that is emerging as a leader in the handbag and accessories market in China," Mr. Cohen stated. "The company has tremendous momentum, a clearly articulated vision and well-defined strategies in place for continued growth in the region. I am delighted to be spearheading this important initiative and look forward to leading the Coach China team and driving our future success."