I do not hold a position in this stock, but am considering it. The biggest issue that I have with COH is their brands are expensive, but are very good quality. The problem is that their handbags and other items are easy to rip-off. I see stores selling knock-off brands. As far as overseas, most people can't afford Coach items, so they buy the knock-off brands to get the appearance/status. In China, they do not respect intellectual property and have no problem ripping off Coach with fakes. Their brand equity is easily eroded.