The company was established in 1941 within a godown, and just small bags were made in the beginning. It is now one of the top bag sellers and its earnings topped 4.24 billion dollars in 2016. Coach is currently enjoying a prominent position in USA with over 1,000 independent stores operating throughout the United States. Furthermore, The brand also has tie-ups with high-profile retail chains which sell their bags. The company also operates its own website on which items can be purchased, and it was launched in year 1999. Although the company produces bags, they also trade in footwear, watch furniture, home furnishings and office furniture through authorized partners.
This can only be achieved through a firm with extensive knowledge, experience, and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities, and threats, it is necessary to conduct a SWOT analysis by Coach.
Coach At A Glance – Coach SWOT Analysis
Company: Tapestry, Inc.
Founders: Lillian Cahn | Miles Cahn
Year of establishment: 1941, Manhattan, New York, United States
CEO: Joanne Crevoiserat
Headquarters: 10 Hudson Yards New York City, New York, United States
Employees (Dec 2020): 12,450
Ticker Symbol: TPR
Annual Revenue (Dec 2020):US$1.27 Billion
Profit net income (Dec 2020): US$332 Million
Products & Services: Bags | Accessories | Ready-to-wear | Wristwatches | Footwear | Jewelry | Eyewear | Fragrances
Company Website: www.coach.com
Top Coach Competitors
Competitors: Michael Kors (KORS) | Kate Spade (KATE) | Ralph Lauren (RL) | Tory Burch | Marc by Marc Jacobs | Tiffany | Dooney and Bourke | Louis Vuitton | Chanel | Cole Hann
Coach SWOT Analysis – SWOT Analysis Of Coach
SWOT Analysis Of Coach analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With Coach SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about Coach SWOT Analysis. Below Is The Detailed SWOT Analysis Of Coach.
Coach Strengths – Coach SWOT Analysis
1. The clear branding image: Coach handbags are advertised as a luxury bag manufacturer, and the company does all it can to keep its image of luxury. Coach produces all of its items using only the finest leather. The brand is also presented it as a producer of American-style bags. This is why it is very popular from a nationalist standpoint and also.
2. Differentiated products ranges: Though primarily handbags Coach offers a distinct collection of merchandise. The bags they carry include shoulder bags, carry-alls, cross bags, satchels clutches, totes, and backpacks. The wallets they carry are distinguished by size, and include small, medium, and large wallets, as well as attractive purses. Their items, though traditional in appearance, are distinct for both genders.
3. Licenses for product lines: Although the company is primarily a manufacturer of handbags, they also offer watches and footwear, home furnishings and office furniture with licensed suppliers. With licensing, the cost could be better managed and the company can concentrate on their main product which is their main focus which was handbags, while also offering other products related to them.
4. Distribution system: The company has a extremely strong network of stores in the US. To maintain the luxurious brand while reaching the largest number of customers they have more than 1000 stores solely selling products from Coach. They also sell their products through other retailers however the company is extremely selective in their selection of partners to ensure that only the brands that are in sync with their luxurious image sell their products.
5. Experience in-store: The in-store experience of Coach showrooms for handbags has been created with American position in the forefront. The layout of the store and the ambiance have an All American look and is closely linked to the craft of leather and the history of the luxury brands.
Coach Weaknesses – Coach SWOT Analysis
1. There is no new style: Coach is positioned as luxury handbags that are American heritage embodied. Therefore, the brand is characterized by an older-looking look to its products and a majority of them appear like old-fashioned items. The style of their products can appear monotonous and boring.
2. Insufficient presence in rapidly growing sectors: Though Coach is a leading player in the field of leather bags, it has a poor standing in other sectors that are rapidly growing like clothing or footwear. Their present collection is not exciting and is not very creative.
3. Insufficient presence within Asia: In comparison to other brands such as Louis Vuitton or Salvatore Ferragamo Coach has a very low market share within Asia which is an market which holds lots of potential. The market is a great place to expand. not only increase sales, but also open up the possibility of further expansion.
4. Insufficient social media visibility: Since luxury brands are not able to advertise in mainstream media they usually rely on social media platforms for promotional opportunities. But, Coach does not have a particularly strong marketing strategy for social media. advertising strategy which means that it’s not very visible to customers.
Coach Opportunities – Coach SWOT Analysis
1. Growth possibilities for the leather industry: Leather is a very popular item in the market in the present. In the past, it was only used in purses. Today, you can find leather clothing as well as jackets, trims, including jewelry. This opens the door to a new world for a key manufacturer of leather goods like Coach.
Coach Threats – Coach SWOT Analysis
1. Competitors: The biggest competitors of Coach are Salvatore Ferragamo, Louis Vuitton, Jimmy Choo, Michael Kors and Baggit.
This is the SWOT report that Coach has done. Please let us know if you have additional suggestions to add.
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