Coach, the upmarket US luxury accessories brand will open its first UK store in Westfield Shopping Centre end of March. It’s the first of a 15 store UK rollout as part of the companies European global expansion plans. The 3,000 sq ft store in Westfield will be marked with exclusive designs and offers fit for the company best known for its ‘affordable luxury,’ and will then be followed, late summer, with a two floor flagship on New Bond Street.
The London openings are part of a joint venture with menswear chain, Hackett, in a bid to build a strong base in Europe. And it makes sense. With 25% of their global spend on accessories coming from Europe, Coach intends to have their 15 store plan rolled out within three to five years.
The brand which started in 1941 as a New York briefcase maker is now globally recognised with more than 550 stores worldwide.
Turnover from Coach’s European sector is predicted to reach $250 million after five years.
A spokesperson said, ‘The top end of the market is fragmented, so there are definitely opportunities.’
The luxury accessories market has proven one the sectors to best survive our deep recession with the likes of Anya Hindmarch recently announcing huge global year on year profit.