NEW YORKI (AP) -- Coach Inc. reported Tuesday that its fiscal second-quarter net income rose 15 percent, thanks in part to strong sales in emerging markets and its growing men's business.
CEO Lew Frankfort discussed the company's plans to expand the men's division.
QUESTION: What are the long-term growth opportunities for your men's business?
RESPONSE: We're experiencing success wherever we're offering a comprehensive assortment of men's across all geographies and all channels and it's extremely exciting for us. Men's spending globally represents about 15 percent of the global luxury spend. For Coach men's sales, we expect it at $400 million (in fiscal 2012). That will represent about 8 percent of our overall sales for this fiscal year. We believe that we can very comfortably get to our rightful share of at least 15 percent of a larger business over the next few years.
So, we think $1 billion is well within reach over the next three to five years and that's our internal mantra.
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