Luxury brand Coach buys China distribution rights
The US designer of luxury handbags buys control of its distribution in Hong Kong, Macau and China as it seeks to mirror the success it has had in wooing Japanese consumers.
Luxury goods company Coach announced yesterday it will buy the rights to distribute its goods in Hong Kong, Macau and mainland China from its current distributor ImagineX. Coach did not disclose financial terms of the deal, saying only that the acquisition will be dilutive to earnings in the short-term.
New York-headquartered Coach is a designer of accessories for women and men. Handbags accounted for 64% of Coach's $2.6 billion of sales for the fiscal year ended June 30, 2007,...
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