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October 27, 2005
Coach On Steroids
Coach just announced their first-quarter results. Profits jumped 53.5 per cent; sales increased by 30.5 per cent. This is the fourth straight year the company has achieved double digit growth. It's simply amazing.
In Singapore, however, the brand is not enjoying the kind of stellar success they are enjoying in the U.S. and Japan. I was wondering why.
Initially I thought that maybe Singaporeans are more discerning and may not be prepared to fork out a few hundred bucks for a bag made in China or India. But hey, Japanese are a lot more sophisticated and Coach is doing so well over there. And anyway I did a quick check with my girl friends who like Coach and found that most didn't know where the bags are made in.
So my final conclusion is that the Dickson Group, which manages the brand in Singapore, is simply not good in executing their strategies. And Singapore may be so low on Coach's priority list of key markets that they won't abandon their wholesale strategy and manage the market directly.
Posted by loganw at October 27, 2005 02:57 PM
