Coach chief eyes China expansion

The chief executive of US leather goods and accessories brand Coach said the firm is likely to boost its development plans in China, the Financial Times reported. Speaking at the end of a visit to China, Lew Frankfort said, “I am leaving this trip with a view that our numbers might be conservative . . . We see sophisticated [Chinese] consumers shopping and international brands thriving.” Coach currently has 17 shops in mainland China. Coach announced in January that it would slow its North America expansion, reducing the annual number of store openings to 20 from 40. Frankfort said that China would be increasingly important to the global luxury goods sector, representing 10% of the US$25 billion global luxury handbag and accessories market by 2010.