Core Viewpoint - COACH is undergoing a transformation by eliminating elements that consumers reject, such as excessive promotions and product line confusion, and focusing on classic products and brand storytelling to resonate emotionally with consumers [1][3]. Financial Performance - COACH's parent company, TPR, reported Q1 FY2026 revenue of $1.7 billion, a 13% year-over-year increase (12% at constant currency). The China region contributed $269.1 million, growing 20% (19% at constant currency) [2]. - COACH brand revenue reached $1.43 billion, up 22% year-over-year, with over 2.2 million new global customers, 35% of whom are Gen Z [2]. Brand Strategy - COACH has redefined its brand identity from "affordable luxury" to "authentic new luxury," focusing on its unique DNA and craftsmanship [4]. - The brand has redesigned classic items like the Tabby bag and introduced over 50 derivative products, while controlling discounts to maintain a price range of 3,000 to 5,000 yuan, with top products priced at 15,000 yuan [3][4]. Consumer Insights - The company conducted in-depth consumer research to understand the evolving definition of luxury, which now emphasizes self-expression rather than status [4][5]. - Insights revealed that consumers often use a process of elimination in their purchasing decisions, leading COACH to focus on core and classic products that resonate with younger consumers [5][6]. Marketing and Communication - COACH has shifted its marketing narrative from promotions to storytelling that connects emotionally with consumers, emphasizing the personal significance of its products [10][11]. - The brand's average selling price has increased, while consumer sensitivity to price has decreased, indicating a growing recognition of the brand's value and emotional resonance [11]. Future Plans - The company aims to apply its successful brand-building methodology to its other brand, Kate Spade, by identifying its unique DNA and fostering deep connections with consumers [11].

Core Insights - COACH, once perceived as an outdated luxury brand, is experiencing a resurgence with significant revenue growth, particularly in the Chinese market [2][3] - The brand's revenue for the first quarter of fiscal year 2026 reached $1.43 billion, a 22% year-over-year increase, with over 2.2 million new global customers, 35% of whom are Gen Z [3][4] Financial Performance - The parent company, TPR, reported total revenue of $1.7 billion for the first quarter, marking a 13% increase year-over-year [2] - COACH's revenue in China was $269.1 million, reflecting a 20% increase year-over-year [2] Brand Strategy - COACH has shifted its focus from excessive promotions and discounts to classic products and brand storytelling, enhancing emotional resonance with consumers [4][6] - The brand has redesigned classic items and introduced over 50 derivative products, successfully engaging consumers on social media [4] Market Positioning - COACH is actively expanding its presence in the Chinese market, with plans to open flagship stores and achieve a "hundred store goal" by the end of the year [5] - The brand is redefining itself as "new luxury" rather than "affordable luxury," appealing to younger consumers who seek self-expression through fashion [7][10] Consumer Insights - Research indicates that modern consumers prioritize self-expression over brand logos, leading to a shift in how luxury is perceived [6][8] - COACH's consumer insights department plays a crucial role in understanding customer preferences and behaviors, informing product design and marketing strategies [12][13] Marketing Approach - The brand has eliminated frequent discount promotions from its marketing narrative, focusing instead on storytelling that connects emotionally with consumers [15][16] - COACH aims to create a unique shopping experience that resonates with diverse consumer segments, tailoring its messaging to different lifestyles and preferences [14][17]

Core Viewpoint - COACH has successfully repositioned itself in the luxury market by appealing to the younger, discerning Generation Z, leading to significant revenue growth despite a general downturn in the luxury sector [6][15]. Group 1: Financial Performance - COACH's revenue reached nearly $1.3 billion, accounting for 82% of the company's total income, with a year-on-year growth of 13%, contributing to a 7% overall company growth [6]. - COACH entered the top five of the global fashion search engine Lyst's popular brand list for the first time, with its Brooklyn bag and Cherry bag charm ranking first and fourth in the popular items list, respectively [6]. Group 2: Product Strategy - COACH has adopted a strategy of maintaining the continuity of popular products, enhancing brand resilience and revenue capacity, with no single product line accounting for more than 10% of sales [13]. - The brand has introduced various iterations of its Tabby bag, which has become a social media sensation, with over 34.2 million posts related to it on TikTok [11][19]. Group 3: Market Positioning - COACH has shifted from a "light luxury" positioning to "Expressive Luxury," targeting Generation Z consumers who seek quality and design without exorbitant prices [15]. - The brand's customization options align with the current trend of personalized accessories, appealing to younger consumers who prefer unique expressions of style [16][18]. Group 4: Marketing and Social Media - COACH's resurgence is bolstered by significant social media marketing efforts, including collaborations with influencers and the creation of trending hashtags to engage consumers [21]. - Despite growth in China, COACH's performance has been modest compared to North America, as younger consumers gravitate towards brands with higher social value, such as Miu Miu and Ralph Lauren [28].

Core Insights - COACH has shown resilience in the luxury market, achieving significant revenue growth post-pandemic, with a reported revenue of nearly $1.3 billion, accounting for 82% of the company's total income, marking a 13% year-over-year increase [1] - The brand has successfully entered the top five in the global fashion search engine Lyst's quarterly rankings, with popular items like the Brooklyn bag and cherry bag charm leading the charts [1] - COACH's strategy focuses on maintaining product continuity and innovation, allowing for a diverse range of signature products that enhance brand resilience and revenue capacity [4] Revenue and Market Performance - COACH's revenue growth of 13% year-over-year has contributed to a 7% overall increase in company performance [1] - The brand's strategic shift towards "Expressive Luxury" targets Gen Z consumers, emphasizing affordability and customization in its offerings [7][8] Product Strategy - COACH has adopted a unique approach to product launches, avoiding the traditional scarcity model and instead focusing on continuous innovation and the introduction of diverse styles [2][4] - The Tabby bag has evolved into various designs and sizes, becoming a social media sensation with over 34.2 million posts related to it on TikTok [4] Brand Positioning - COACH's historical positioning as a "light luxury" brand has shifted towards a more expressive luxury identity, appealing to younger consumers who prioritize individuality and customization [6][7] - The brand's pricing strategy remains competitive, with most products priced between 4,000 to 5,000 yuan, making it accessible compared to other luxury brands [8] Challenges in the Chinese Market - Despite growth in the Chinese market, COACH's performance has lagged behind North America, with lower single-digit growth rates [10] - Young consumers in China are increasingly drawn to brands with higher social value, such as Miu Miu and Ralph Lauren, which have seen significant growth [11] - The rise of second-hand luxury markets poses a challenge for COACH, as consumers seek value and affordability in their luxury purchases [11]

一个已有80年历史的品牌如何在年轻、挑剔的Z世代中取得成功。 作者 | 贺哲馨 编辑 | 乔芊 骂香奈儿、爱马仕之前，你得先担心会被扣上"吃不到葡萄说葡萄酸"的帽子。但轮到COACH，就不同了。 就算是最不懂时尚的人也会吐槽一句"COACH实在是不够时髦"，背着COACH总是透露着一股精致土，就像是它的中文译名"蔻驰"——完全音译，毫无 美感，既没译出欧洲风情，也没翻出中产味道。 刚毕业的年轻人，谁还没有一只双C米白/棕色老花托特 人人都不看好的COACH，偏偏又最争气。疫情之后，奢侈品市场集体降温，COACH的业绩开始上扬，从2022年起就逐渐跑赢了集团其他的两个品牌。 根据刚刚发布的财报，COACH营收近13亿美元，占公司总收入的 82%，同比大增长13%，拉动公司业绩增长 7%。 今年二月，全球时尚搜索引擎Lyst发布第四季度热门品牌榜单，COACH破天荒地进入前五名。热门单品榜中，简约设计的Brooklyn手袋和樱桃手袋挂件 也分别位列第一名和第四名。 曾经是奢侈品鄙视链的末端，如今是年轻人的铂金包，COACH做对了什么？ 让爆品"连贯起来" 时尚产业制造爆品有其固定规则，即有意识地制造稀缺感。具体来 ...