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June 23, 2008
The CEO of American luxury brand Coach, Lew Frankfort, recently spoke with the Japanese newspaper Asahi Shimbun about his brand and his thoughts on sales for Japan and the rest of the world.
Up to this year worldwide sales have reached about ¥306,000,000,000, but within the next three or four years he said they are aiming to have sales reach upwards of ¥510,000,000,000.
In a six month period in 2007 sales volume in Japan reached ¥57,200,000,000, representing a 10-15% increase over previous years. As well, by 2011 Coach plans on increasing the number of stores in Japan by 30, bringing the overall number to 180 stores.
Finally, despite the economic troubles caused by the sub-prime loan crisis the Coach CEO gave his perspective that Coach will continue their rapid growth due to the support of their design, functionality, and pricing.
March 9, 2008. Asahi Shimbun