Coach. For a certain generation, it was the object of affection of our teenage dreams. Growing up, it seemed as though everyone wanted a piece of Coach’s iconic CC embroidered logo handbags. From Britney Spears to Hilary Duff, the Coach brand was synonymous with 2000s’ aesthetic. All of our favourite teen queen idols sported their classic Coach mini shoulder bags on red carpets, shopping trips and more. It seemed to all of us, Coach was on top of the world… until it wasn’t.
Kyla Pratt (The Proud Family) and Ashley Tisdale (High School Musical)
One of the simplest economic concepts, is that a business can make money one of two ways- quantity or price. Products can be easily accessible, easily affordable and mass produced at a low cost- which is passed onto the buyer, and by selling many of one thing, there is money to be made. You can walk into a store, put together an outfit and end up spending relatively little. Similarly, the next hundred customers can choose similar products and spend proportionately less on their purchase. This process repeated is a simple profit generating tool.
On the other hand, a business can make their products not as accessible, and instead sell fewer items at a much higher price point. This is often implemented by luxury brands. Rather than pricing a bag at $50 and selling a hundred, Chanel will price a bag at $5000 and sell one.
Almost all business fall on either ends of the revenue spectrum- mass production or selective pricing. It is seldom, if at all, that a business can make money both ways, and a cautionary tale is that of the downfall of Michael Kors.
Today, the vast majority of consumers would not consider Michael Kors a luxury brand. Moreover, they would certainly not group it with the likes of Dior, Prada or YSL. However back in that same 2000s era, Kors was a true icon of modern luxury and a brand that everyone wanted. Realizing this demand, those at the helm of the company decided to branch out. Still wanting to be a luxury brand, Michael Kors aimed to sell to more people – an undertaking that would eventually backfire. As prices dropped, more and more people were able to sport a classic MK handbag. The prestige and halo of luxury that once surrounded the house suddenly vanished. Fast forward to today, Michael Kors is no where to be seen. Stores are empty and the number of people purchasing their goods is small.
Michael Kors tried to have their cake and eat it too, and ended up not having any cake to choose from at all. In fact, the only thing keeping the brand alive now, is the impeccably strategic acquisition of Jimmy Choo and Versace to form Capri Holdings Limited, a luxury conglomerate that is keeping the brand financially relevant today. One would imagine that this story would serve as an example to other luxury brands to maintain their exclusive and selective nature… and then there’s Coach.
Making the same mistake as Michael Kors, Coach attempted to expand and reach more consumers by dropping prices and being more accessible. To add insult to injury, the brand lacked a certain ‘je ne sais quoi.’ Coach just wasn’t exciting anymore! Nothing about the brand made our hearts pitter-patter like it once did. Innovation lacked and overall business strategy was weak. Coach lost relevancy and their reputation as a luxury staple was all but decimated.
Is that all about to change though? Is Coach on the verge of a comeback? Recently, social media was sent abuzz with the introduction of Coach’s newest bag- marketed as the “It-Bag” of the season, and arguably, the year. Visually charming, and promoted by the likes of Jennifer Lopez and Camila Morrone, the Pillow Tabby Bag is just darn cute! It is easy to see why everyone has fallen back in love with Coach as this new, plush design is as stylish as it is cuddly.
Not only has it capitalized on the GEN-Z revolution by splashing this fun new handbag across TikTok and Instagram, but for once the price point is neither too high or too low. It is pricey enough to be considered a luxe purchase, while still being affordable on the luxury spectrum. Coach is pulling at our heart strings with this totally on trend Tabby. Hovering around the $500 price point, we can almost instantaneously justify an impulse purchase. All in all, it’s hard to deny the inevitable cuteness of the Pillow Tabby- coming in a range of colours and branding a plush, soft shape.
This newest object of our desire has us all saying “Coach Is Back.”
Or rather, are we asking, “Is Coach Back?”
What do you think? Is Coach back in our good graces? Will you be buying the adorable Pillow Tabby bag? Do you think we can give our relationship with Coach another shot? Sound off below!
Image Courtesy: Popsugar, Women’s Wear Daily, US Magazine, People Magazine, CR Fashion Book, Lifestyle Collective
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Sorry but in my opinion Coach never has been and never will be a “luxury” brand. I’m not saying they are cheap but you definitely can’t talk about them in the same way as LV, Chanel and Dior. I’m also just not interested in anything from them.
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I agree, this bag is soooo cute! I have thought about making a purchase in pink but I decided to pass because I know it will end up in the give-away stack and that’s another $500 gone that I could have put toward something that I really want. I think Coach has done a good job lately at making classic looking styles at a good entry level price and great for those looking to make that first purchase of a quality/luxury handbag. But they will always have to come up with something new whereas the likes of LV, Chanel, and Hermes will always have those blue chip styles that they can make and people will want forever. I’m trying to focus on good quality understated luxury and style that will hold up for a long time. I have become interested in Moynat, Delvaux, and Moreau.
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