Coach bets big on India

New York-based luxury leather brand Coach recently launched its first store in Mumbai and is now betting big on India with a long term potential. Ian Bickley, President, International Group for the leatherware and handbags brand wants to build a leadership position in the accessible luxury space in India. After making its entry in the Indian market, Coach is all set to enter other international markets like Russia, South Africa and Turkey this year through its own stores.

For Coach, India entry took long because as a brand it has been going through significant transformation over the last three years. So as Bickley points out, they didn’t feel ready to come to a market until they had clarity on their own direction. Also, importantly, they didn’t feel that the Indian market was ready. But it was only after a visit last summer, that Bickley realised that luxury was a growing market in India.

The luxury market in India has been growing at a CAGR of 25 per cent over the last couple of years. Over the last few years, major global brands such as Armani, Dior, Chanel, Burberry, Michael Kors, Longchamp to name a few have opened showrooms. Coach has entered India through a partnership with Genesis Luxury. After Mumbai, it’s next stop will be in Delhi. The opening price points for bags will be under Rs 30,000.