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Coach's new look has been in the works for some time now, with varying degrees of success. After rolling out a more fashion-forward RTW line and nixing the moderate price point strategy, Coach is ready to reveal the brand's new store look, which includes unique, swanky touches for each store that highlights the history of the brand while satisfying the new, luxury-oriented Coach customer.
According to WWD, three Coach locations have already undergone renovations (Beverly Hills's Rodeo Drive, New York's Time Warner Center, and Tokyo's Shinjuku) with 20 more to be finished before the end of the year. By the end of the 2015 fiscal year, Coach plans to make over 150 stores and open 60 new ones, and all of them will have adopted the new look by the end of the 2017 fiscal year.
The retail overhaul will cost the brand upwards of $570 million over the next three years. And the "new Coach" sales haven't been helpful: in the most recent company earnings report, sales were down 9.6% compared to the same period last year. Regardless, the new stores are one more step toward ushering in the future of Coach. "Part of the test of almost any transformation is people see it and say, 'That's true Coach,'" the company's CEO Victor Luis told WWD. "If you're a Coach loyal customer and you walk in, it may not feel like what you've experienced for the last ten years, but it may feel better."