Coch is looking to expand its empire by selling its handbags and other accessories in Brazil and Vietnam. The American fashion house has inked multi-year deals in both countries, and plans to open stores in the territories within the next year.
Coach signed a deal with the Aste Group in Brazil, a company who works with labels like The North Face and Kipling. This agreement will see Coach opening freestanding stores in Brazil’s shopping centers. It plans to open its first stores in Sao Paulo, before hitting Rio de Janeiro and Brasilia.
Ian Bickley, the president of Coach International, says the brand has had its eye on Brazil for the last 12 months, as it makes up around 50% of Latin America’s luxury market. Brazil’s currency is also strong and its economy robust, and with its consumers keen for “accessible luxury” Coach is well placed to thrive there.
Coach also signed a deal with Luxasia in Vietnam, which will see it enter the country’s department stores. Vietnam’s economy is developing rapidly, driven by its aspirational consumers who love to indulge. Coach plans to open outlets in Hanoi and Ho Chi Minh City before the end of 2011.
Bickley says Coach is still in the early stages of establishing a presence in these new markets, but early signs point to success in these new endeavors.
[Image Source: Cs1668/Wikipedia Commons]
