Why is the Coach Brand So Popular?
Throughout its history, the Coach brand has changed from being a maker of luxury handbags and accessories to a brand that is a lifestyle. The ‘halo effect’ has been attributed to some of the brand’s most famous products, including the Coach handbag. Today, this company continues to grow and evolve, offering a wide range of products that are not only fashionable, but functional as well.
Lew Frankfort
Having spent many years in the world of fashion, Lew Frankfort is the perfect match to help revamp the ailing Coach brand. He joined the family business in 1979 and helped turn it into one of the world’s most recognizable luxury brands. Since then, Coach has become a publicly traded company and in 2011 became the first American issuer to list on the Hong Kong Stock Exchange. He is one of the most successful businessmen in the world and has made millions of people happy.
In 1979, Lew Frankfort joined Coach as Vice President of New Business Development, where he quickly grew the company to over six million dollars in sales. From there, he was named President of Coach in 1985 and CEO in 1995. Under his leadership, Coach has expanded to become a leading American accessory brand, with annual sales approaching $5 billion. And with a strong brand recognition, Coach is a contender for luxury European brands.
Lew Frankfort and Coach brand popularity began in 1941 as a family owned leather goods company in Manhattan. He helped turn the brand into a successful fashion house, and his leadership skills made him the perfect candidate for the role of Sycamore’s executive in residence. Frankfort’s extensive retail experience and network will be invaluable to his new role as an executive in residence at Sycamore Partners. So, what is the role of the executive in residence?
Before taking over Coach, Frankfort served in local government in New York for ten years. As Commissioner of the New York City Agency for Child Development, he restored child day care programs during the 1970s fiscal crisis. In addition to his role as a businessman, Frankfort is a member of the Board of Overseers of Columbia University. He is a passionate humanitarian who has made a significant contribution to the world of fashion.
Bonnie Cashin
As the designer of the Coach handbag, Bonnie Cashin is considered the pioneer of American sportswear. She won Neiman Marcus and Coty awards for her designs that are both functional and chic. This sensibility helped her to expand the Coach brand, which became an instant sensation and a $954 million brand by 2008. As the first woman to design for Coach, she introduced zippers, pockets, fun colors, and numerous accessories beyond leather. In fact, the duffle bag, a popular sporty bag, was named after her.
In her career, Cashin designed clothing for modern women, creating many trends and designs that have become industry standards. She is perhaps best known for her iconic brass-plated Coach handbags. She was also the first designer to create a leather dress, which was an enduring classic. She also reshaped the brand’s line of handbags and introduced new designs for clothing. As the first woman to design a jacket made of leather, Cashin influenced the fashion industry and paved the way for its popularity.
When she died in 2000, her legacy lives on through the Coach line. Her collection includes her entire design archive, a lecture series at California Institute of Technology, and a number of other projects. She also has endowments for design-related lecture series at the university, which are housed in the Charles E. Young Research Library. These endowments continue her legacy. But the Coach brand is no longer as popular as it once was.
One of the most popular handbags ever created is the Coach Cashin. It sold out on the runway within two minutes of its debut. Today, there are four other versions of the Cashin handbag, ranging from the small tote to the large leather tote. The designer has also created a mini version of the handbag, which is available in signature canvas. The mini bag is a small clutch that fits comfortably around the wrist and also has a detachable strap that turns it into a crossbody.
Kate Spade
If you want to be trendy and have a great bag, Kate Spade is your brand. Founded in 1993, this handbag company is synonymous with optimism, fun, and feminine style. Today, Kate Spade sells not only handbags but also clothing, eyewear, and home goods. The brand was purchased by Coach last year for $2.4 billion. Kate Spade was a part of the company’s history, and it has changed drastically since then.
The company purchased the Kate Spade & Company brand in 2006. After the initial investment, the brand grew tremendously. In 1996, the Neiman Marcus Group bought a 56% stake in the company. In 2006, Coach acquired the remaining shares. This deal marks the biggest single acquisition of a women’s fashion company since the company was founded. However, Coach is not planning to sell its own line of Coach wallets, and wants to keep its brand independent.
Because the Kate Spade brand is so accessible to the general public, it has become the second most expensive designer brand in the world. It has also become popular in the Middle Class, which wants to look rich. The bags are high quality, and feature elegant stitching and craftsmanship. These factors make Kate Spade so popular among middle-class women and men. If you have been considering purchasing a Kate Spade handbag, you can’t go wrong.
If you’re planning to buy Kate Spade, you should look for a company that offers a variety of brands. Coach is new to the M&A game, but has recently acquired Stuart Weitzman and Kate Spade. It’s not hard to see why the company is pursuing this strategy. While Kate Spade may not be a huge brand, its growth potential far outweighs the competition.
Bonnie Cashin’s ‘halo effect’
The halo effect of a designer is what has made the Coach brand so popular. Known as the “interbellum generational icon,” Cashin was born in Oakland, Calif. in 1908. Her parents, a photographer and a dressmaker, opened several custom dress shops as Cashin was growing up. Today, Coach’s collection of handbags is wildly popular with millennials.
The halo effect of the Coach brand extends to its designer. The designer’s work is known the world over, and her influence is felt everywhere. The halo effect has allowed the brand to become a $954 million brand. Bonnie Cashin is credited with making the duffle bag and brass toggle hardware a part of the iconic Coach brand. Her influence has extended to dozens of other designers, including Burberry, Gucci, and Prada.
The Coach Cashin is bigger than the traditional wristlet and is worn over the shoulder. The brand’s newest wristlet, the “Cashin,” sold out the runway in two minutes. There are four other versions of the Cashin, starting at $250. Another style of the Cashin is the Coach Mini Cashin tote, a wristlet style tote with a detachable strap.
Kate Spade’s influence on Coach
The recent purchase of Kate Spade by Coach makes sense in many ways. The company’s brand recognition and ability to turn a business around is well known. Coach expanded its product line to include tech accessories, activewear, and bathing suits. But what about Kate Spade? The designer left her company to focus on philanthropy and raising her children. But what is her influence on the Coach brand?
While a lot of the attention focuses on the popularity of her bags, the designer was a great influence on the brand. Coach purchased Stuart Weitzman for $574 million in 2015 and has since been focused on Kate Spade. The company hasn’t focused on its competitors because they believe they have an edge in the Asia market. Coach’s runway is longer and its product selection is wider than its competitors’.
The difference between Kate Spade and Coach can be found in the company’s brand image. While Coach has always been known for quality leather bags, Kate Spade appeals to a more modern audience. Coach is synonymous with a more classic, high-end brand, and its logo depicts a horse and carriage. While Kate spade’s bags tend to be more affordable, the company’s logo is a more sophisticated version of Coach’s.
The popularity of the Kate Spade name has impacted a number of product categories, from apparel to accessories. Kate Spade was the first woman to create a luxury handbag line. This company quickly grew and became an outlet mall mainstay. Coach’s new handbags are more luxurious and fashionable than ever before. They are also an excellent choice for women on a budget. There are many benefits to Kate Spade’s influence on the Coach brand.
