"In July 2008, amid the spreading gloom, the senior executives of Coach gathered for a private annual meeting. At the end of the first day they made an important decision. The brand had emerged from its modest origins in the 1940s to become an emblem of the working woman and then, remarkably, a favorite among the fashion-conscious."It had created the very conceit of affordable luxury. Now that sense of expansiveness, opportunity, even desire, was diminished. Coach had to adapt. So began a nearly yearlong quest to design a line of purses and accessories that could be priced to fit the times without cheapening or otherwise damaging Coach's image. Doing so would require executives to find new sources of leather, fabric, and hardware, renegotiate deals with suppliers, and collaborate more than they ever had.
"The resulting collection, which will be introduced in late June, is called Poppy. It's more youthful; CEO Lew Frankfort describes it as eclectic and spontaneous. The average price will be about 20 percent less than the usual Coach purse."
Check out the full article here.
