News - United States
Leather goods giant Coach recently eliminated over 150 jobs in global restructuring efforts to stimulate the brand amid sluggish sales. Plans for the redundancies came from the New York-based company's analyst and investor conference in June where long-term strategic plans were revealed.
Competition in the affordable luxury space has increased due to brands such as Michael Kors, Kate Spade and Tory Burch. Coach used to have a monopoly on this space but recent quarters have illustrated a steady slip in like-for-like sales, and further drops are expected to fall in the year ending June 2015. And despite the brand's strong popularity in China and North America, challenges persist.