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Coach growth strategy focused on opening new stores

Fri Sep 7, 2007 9:20am EDT

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NEW YORK, Sept 7 (Reuters) - Handbag and accessories company Coach Inc (COH.N) said on Friday that its growth strategy for the next few years includes opening more stores in North America and expanding its most productive stores.

The company will "increase distribution across the globe, focused on North America and Japan, while continuing to increase brand recognition in emerging markets, especially greater China," Chief Executive Lew Frankfort said at an analyst meeting in New York. Coach said it expects to open about 40 new full-price stores in North America next year and at least 6 factory stores. That is in line with its previously stated longer-term goal to open about 40 new stores in each of the next few years.

Coach reiterated its view that North America can support about 500 retail stores, including up to 20 in Canada.

The company said new stores will be in existing markets such as Houston; developing markets such as Milwaukee and Tucson, Arizona; and new markets such as El Paso, Texas. Depending on the area, Coach stores are either "fashion," "flagship," or "core" stores.

(See here for "Shop Talk" -- Reuters' retail and consumer blog)

(Reporting by Martinne Geller)

(Editing by Jeffrey Benkoe; Reuters messaging: martinne.geller.reuters.com@reuters.net; martinne.geller@reuters.com; +1 646 223 6023)) Keywords: COACH/

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