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Taking A Look At Coach Inc.

631 Words3 Pages

Coach Inc. is a firm in the fashion/accessories industry. It was founded in 1941 by Lillian and Miles Cahn, starting as a family-run workshop in Manhattan, New York (Our Story, 2017). Initially, Coach specialized in making wallets and billfolds, then made their mark on the industry when Lillian suggested to her husband they added women’s handbags to their product line. Currently, Coach sells men’s and women’s bags, clothes, shoes, and other miscellaneous accessories. The core business of Coach just so happens to be the selling of their signature handbags, particularly in the handbag, luggage, and accessories industry (NAISC Code 44833). The handbags are designed for women who are seeking high-quality designer handbags and are willing to pay top price for them. 1.4 Value Chain Diagram here. …show more content…

Overall, the industry has roughly 50,000 businesses, employing over 100,000 workers (Handbag, luggage, & Accessory Stores, 2017). The top three major firms in the industry are Coach Inc., Michael Kors, and Genesco Inc. Coach currently has 14.2% of the industry’s market share, while Michael Kors and Genesco have market shares of 23.2% and 7.1% respectively (Major Companies, 2017). While these top firms account for about 45% of the industry market share, the industry is crowded with many small firms competing for the rest of the 55%. With three major competitors well-established in the industry and there being roughly 50,000 firms in the industry, this industry is a highly fragmented one because of the many

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