Coach Raising Prices
- Thread starter AmandaGator
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Agree with the bolded statement. Right now their close competitors in the mid-range hand bag brands are just Tory Burch, MK and Kate Spade. Instead of finding viable (and more reasonable) solutions to their failing sales in the full price boutiques, they choose to abandon the mid-range market and try to capture a segment of the premium designer brands market. I don't see how this strategy will work sucessfully. They will be facing stiff competition against established European brands like LV, Chanel, Prada, Gucci, Burberry, Dior, Goyard, BV, Celine, etc. I just don't know how Coach will entice these brand loyal buyers of these brands over to their side. It's difficult to successfully go from mid-range designer to high-end designer.
I guess I will stick to ebay besides, when I buy FP it is just at the outlets a month later or less.
I'm not sure why you're taking my opinion so personally but there's no need to be rude to me about it.
It's just a purse. I don't like the style enough to justify the price, especially with the current calibre of Coach's quality. The store manager agreed and we had a laugh together. The end.
Had I realized this has now become a pissing contest about who can spend the most money on a Coach bag and we're all required to be "fun Coachies" or GTFO according to your standards, I would have kept my mouth shut, but hey, I'm happy that you love the new line and are willing to pay twice as much for something that appeals to you. To each their own.
It's just a purse. I don't like the style enough to justify the price, especially with the current calibre of Coach's quality. The store manager agreed and we had a laugh together. The end.
Had I realized this has now become a pissing contest about who can spend the most money on a Coach bag and we're all required to be "fun Coachies" or GTFO according to your standards, I would have kept my mouth shut, but hey, I'm happy that you love the new line and are willing to pay twice as much for something that appeals to you. To each their own.
I don't think all the bags will be 600 or higher either, it will probably be like how it is now where they have the $500+ borrough bag, then they have the less expensive bags (riley, minetta, pheobe...)
I wasn't rude and didn't take anything you said personal. I find it odd that you think a bag that costs $798 is so funny. I don't see the humor. What I'm tired of is people on a Coach forum saying over and over and over....I'm never paying over $.....for a Coach..... I'm never buying Coach bag again......blah....blah......it's old. It's still a free country and I will state my opinion......it's old.
I wonder how they price these things? It almost seems like they make a bag that they would have sold for $400 and now double the price to appeal to a different market. It had better be double the quality for me to pay double the price. This is what I didn't get about when Reed Krakoff started his own line. He wanted his stuff to be higher end. I could see that some of the leathers were better quality but the bags were four times the cost of a Coach bag and they didn't seem worth it. Then I read some reviews where people were disappointed in how they wore and I was even more convinced I didn't want to spend that much.
I might be willing to spend $800 for nappa or some other premium leather, but I got a quilted nappa bag from Henri Bendel for $400 and the leather feels as nice as Chanel.
It bothers me that they are raising prices just to appear as a premium brand rather than producing something to justify those prices.
I still am amazed at the quality of the leather on my Poppy spotlight from 2010, and you could get the hippie in the same leather for around $200! At the time, I thought that was extravagant!
I would imagine they would have to close the FP stores in my area. There aren't very many people around here that will pay LV prices. Hopefully they will up the quality at the outlet, everything there will be on sale, and I won't have to wait for a coupon or for a bag I like to "go to the outlet" since it will already be there!
Seriously, the $1,200 Weekend Borough Bag has been selling that well?
I guess Coach thinks that the widening gap between higher class and lower class and erosion of the middle class in this country will play into their hands. I don't see how it will work.
I guess Coach thinks that the widening gap between higher class and lower class and erosion of the middle class in this country will play into their hands. I don't see how it will work.
The Weekend Borough is huge, functional, and appeals to a very particular demographic. Why they think that translates into being able to raise prices on daily-use bags is beyond me. I love the Weekend Borough. That said, I have an ostrich embossed leather weekend bag that is more functional, more durable, and it was < $500.
I agree with you Katierose!
I've read in various articles that the SV fall line is going to be available in "select" Coach boutiques and online--meaning most boutique customers won't see the SV fall line in person at their local store.
What most boutique customers will probably see an upscale "edit" of the Coach product line-fewer styles, all leather, etc.
The logo bags will probably be department store exclusives along with more traditional Coach styles with familiar price points in the sub-$400 range.
MFF will likely continue to be the "entry" level bags that we see today in the same $100 - $200 price range.
Creating different "channels" will allow Coach to maintain a presence in all the same places it's in today but create different value propositions for customers.
I think Coach's biggest challenge is going to be convincing customers--both new and old--that a Coach bag is worth $600 - $1,500. That's a stretch. Especially when all the bags carry the same Coach brand logo.
P.S.
I am in the group that will never pay more than $4XX for a Coach handbag--or any Contemporary handbag for that matter!
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They already closed the fp store in my mall.. Ps it was the only fp in the whole state. They're opening an mk boutique in it's place.
The FP store in my mall (Chandler, AZ) is in the process of moving into a space double it's original size - they took over the Brookstone next door that recently closed - and will be carrying clothing, shoes, more jewelry, etc. it's supposed to be ready next week (they're in a temp space right now) and I can't wait to see it!