Coach CEO Victor Luis this week told CNBC that the company is pleased to see the Chinese consumers globally.
According to Luis, the company has seen the Chinese demand pick up in Europe and Japan, where the flows of Chinese tourists have increased, although the company has recently experienced the decrease in sales in Hong Kong and Macau as most of its counterparts, due to the decrease in Chinese tourist flows.
“We’ve been on a journey to transform the brand and we’re very pleased — obviously with the results that we’ve been showing — since that transformation began about two years ago,” Luis told CNBC.
Coach this week reported its first sales increase in more than two years. However, the company’s overall sales are down $200 million over the past two years, mainly due to its loss of market share in the handbag category.