Rise as
Gucci did, and become the american version of LV (I hope)
Coach was founded only 20 years later than Gucci, and Gucci has risen ever since they being led by a genius designer and started hit the market with many popular bags. While Coach is still struggling even though Coach does have being led by a fantastic designer, and has released so many good designs with good quality. Even better than Gucci.
The reason of this struggle is "Brand Image". Coach has cheapen their brand by the massive outlet selling, deepest discount (%50 OFF) every twice a year and many steep discount events (30%-40% off) time to time, and this is still on going.
So if Coach wants to become the luxurious club, here's what I think coach should do:
First, keep focus on the good quality leather and craftsmanship. keep use leather lining on 1941 bags. Do not omit detail just because of cost control.
Second, stop massive outlet. For 1941 collection, do not massive produce, and stop discounting or even increase the price over time. Many designer bags get more popular and desirable when it increases the price.
Third, keep certain popular design (Rogue, cooper) as permanent line. Create brand substantial value.
IMO. It's all depends on where Coach wants to go. Either a) the the leadher ship of American Luxury Fashion houses, or B) a massive production profitable & affordable brand like they used to. I will part with Coach eventually if they kept aiming B) .