Coach SWOT analysis – SWOT analysis of Coach: Coach is an American company that is specialized in high-end bags, luggage, and other leather products. It is a brand that is a perfect example of the traditional American style and also produces accessories for the lifestyle accessories with signature designs that are fashionable and elegant.
The company was founded in 1941 within a godown, and just small bags were made in the beginning. It is now one of the biggest bag sellers and its profits reached a staggering 4.24 billion dollars in 2016. Coach has a prominent market share in the USA with over 1,000 independent stores operating throughout the United States.
Furthermore, the brand also has a tie-up with high-profile retail chains that sell their bags. The brand also has its own website on which items are available for purchase and it was first launched in the year 1999. While the company makes bags, they also specialize in footwear, watch furniture, home furnishings, and office furnishings through authorized partners.
Coach fun facts: Coach started out making men’s billfolds and it was Lillian Cahn who encouraged her husband Miles to start making women’s handbags.
About Coach – SWOT analysis of Coach
Company: Tapestry, Inc.
CEO: Joanne Crevoiserat
Founder: Lillian Cahn | Miles Cahn
Year founded: 1941, Manhattan, New York, United States
Headquarters: 10 Hudson Yards New York City, New York, United States
Annual Revenue: US$1.27 Billion
Profit | Net income: US$332 Million
Number of employees: 12,450
Products & Services: Bags | Accessories | Ready-to-wear | Wristwatches | Footwear | Jewelry | Eyewear | Fragrances
SWOT analysis of Coach – Coach SWOT analysis
SWOT Analysis Of Coach is brand-based. SWOT Analysis of Coach evaluates the brand’s strengths, weaknesses, opportunities, and threats. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. We will be discussing Coach’s SWOT Analysis. Below is the detailed SWOT Analysis of Coach.
Let’s talk about Coach’s SWOT assessment.
Strengths of Coach – Coach SWOT analysis
- Clean Image of the brand: Coach handbags are presented as a premium bag manufacturer, and the company does all it can to maintain its upscale image. Coach creates all of its products using only the finest leather. It also presents it as a maker of American-style bags. This is why it is very popular from a nationalist viewpoint too.
- Differentiated product ranges: Though primarily handbags Coach offers a differentiated range of products. The bags include shoulder bags, carry-all cross bags, satchels clutches, bags, and backpacks. The wallets they carry are distinguished by size, and also have small, medium, and large wallets and also decorative purses. Their items, though classical in style are distinct for both genders.
- Licensing of product lines: The company is primarily a manufacturer of handbags, they also offer watches as well as footwear, home furniture, and office interiors via a licensed partner. Through licensing, costs can be more efficiently managed, and the company could concentrate on their main product which was their specialty was handbags, while also offering other merchandise related to it.
- Distribution Network: The company has an extremely strong network throughout the US. To maintain the high-end brand and also reach out to the most clients, the company has more than 1000 stores solely selling Coach products. They also sell their products through other retailers but they have chosen very carefully when it comes to their partners and has made sure that only the brands that are in sync with their luxurious image sell their products.
- Experience in-store: The in-store experience of Coach showrooms for handbags has been developed with an American position in the back of your mind. The layout of the store and the ambiance have an All-American look and are closely linked to the leather industry and the history of the luxury brands.
Weaknesses of Coach – SWOT Analysis Of Coach
- The absence of any new designs: Coach is positioned as an elegant handbag that represents American heritage-based. This is why the brand has an older-looking look to its products and a majority of them appear like old-fashioned items. Their style is dull and monotonous.
- Insufficient presence in the rapidly growing segment: Though Coach is a prominent player in the world of leather bags, it is not as prominent in other sectors that are rapidly growing like clothing, footwear, or even clothing. Their present range is not exciting and is not very creative.
- Insufficient presence within Asia: In comparison to other brands such as Louis Vuitton or Salvatore Ferragamo, Coach has a very low footprint within Asia which is a market that holds lots of potential. The market is a great place to expand. not only improve sales but also provide opportunities for expansion.
- With a low social presence: Since luxury brands are not able to advertise in mainstream media they usually turn to social media platforms for promotional opportunities. But, Coach does not have a particularly strong marketing strategy for social media. plan for marketing and as a result, it’s not very visible to customers.
Opportunities of Coach – Coach SWOT analysis
- Growth possibilities for Leather: Leather is a very popular item in the market nowadays. In the past, it was only used in purses, but nowadays you can find leather clothing as well as jackets, and trims, including jewelry. This opens the door to a new world for a key leather goods manufacturer such as Coach.
Threats of Coach – SWOT analysis of Coach
- Competitors: The biggest competitors of Coach are Salvatore Ferragamo, Louis Vuitton, Jimmy Choo, Michael Kors, and Baggit.
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