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This week has brought a whirlwind of changes at Coach to the forefront. Some are better than others: The news that the brand would position itself as more luxury than mass marketed with the help of Stuart Vevers came with the revelation that it'd also get more expensive. Company CEO Victor Luis told WWD straight up, "You can have a $5,000, $2,000, $3,000 Coach bag in the future." At the moment handbags ring in for under $1,000 generally, and more often, under $500.
But according to WWD, the brand's latest collaboration—a capsule of handbag, accessories, and father-son baseball mitts designed by menswear extraordinaire Billy Reid—that day has come and then some. The most expensive item on Reid's list is an extremely luxe-sounding $20,000 crocodile tote.
Granted, the rest of the line falls well within Coach's more attainable price point: A leather wallet is $250, a pebbled leather messenger bag is $800, a suede overnight bag is $800, and the leather trimmed portable bar set above will go for $600. But considering that the most expensive item in the brand's last collaboration, with Anna Sui, went for $1,000, it looks like they're getting a jump start on elevating the brand.
· Coach Partners With Billy Reid on Capsule Line [WWD]
· Now Introducing the New Coach Under Stuart Vevers [Racked]