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In 1961, the Cahns designed a leather handbag, inspired by the look and feel of a worn baseball glove. It became a hit, and soon, the workshop was producing a line of bags.
In 1961, Coach tapped Bonnie Cashin, a pioneer in sportswear design, to create a line of bags. Cashin was instrumental in transforming the Coach image through her creative use of colors and materials. She introduced some of the brand's design trademarks, such as the turn-key metal closings, striped interior, and piped leather seams. The Cahns sold Coach in 1985. By that time, Coach had already developed a strong following among women who wanted strong, durable bags that were stylish enough to be worn to work and events.
Affordable luxury
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Lew Frankfort was named chairman and CEO of Coach in 1996. Despite stiff competition from luxury labels, Frankfort was successful in ensuring the brand's continued success. He hired Reed Krakoff and gave him full creative control. Krakoff introduced fabric bags, scarves, sneakers, and other accessories in trendy colors and patterns, including the Signature C. Coach became a sought after brand, in demand yet accessible among both the older and younger sets.
Timeless appeal
Krakoff has since left Coach to pursue other ventures, but the brand has continued to innovate while keeping its image of contemporary American luxury. While most of Coach's offerings remain mid-priced, the brand has also tapped into the high-fashion market with offerings such as the Coach + Billy Reid Warrior Tate, made from Louisiana alligator leather and the Coach Lily in Ostrich.
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Coach has also ventured into other markets and found great success particularly in its line of fragrances. Its first fragrance collection was launched in 2007 in partnership with Beauty Bank, a division of Estée Lauder, Inc. Coach has since produced more than 20 fragrances.
From a tiny family-owned workshop churning out leather goods, Coach is now an international household name with a market cap of $11.5 billion and is poised to grow even further. As a tribute to its humble beginnings, Coach's corporate headquarters is located on the site of its former workshop.
William Lauder is the executive chairman and member of the nominating and board affairs committee at Estée Lauder, Inc. Learn more about Estée Lauder, Inc. and its brand portfolio by subscribing to this blog.
