Press release from Business Wire
Coach Announces New International Organization and Enhanced Team
Wednesday, October 13, 2010
Coach Announces New International Organization and Enhanced Team07:00 EDT Wednesday, October 13, 2010 NEW YORK (Business Wire) -- Coach, Inc. (NYSE: COH), a leading marketer of modern classic American accessories, today announced the next phase of its international growth strategy focused on Asia. This news follows recent announcements of entry into the UK, France, Spain, Ireland and Portugal, and includes the creation of a new international retail organization with three major Asian hubs: Japan, Mainland China and Other Asia Markets. It also announces the addition of three senior executives who will enable Coach to capitalize on the significant growth opportunities that exist for the brand in the region. Mr. Victor Luis, previously President and CEO, Coach Japan & Coach China, has been promoted to the newly-created position of President, Coach Retail International with responsibility for all of Coach's directly-owned businesses outside North America. Mr. Luis will return to New York and report to Lew Frankfort, Chairman and CEO of Coach. Concurrently, the company announced the appointment of Mr. Daniel DiCicco as President and CEO of Coach Japan, reporting to Mr. Luis. Mr. DiCicco joined Coach from Sony Music Entertainment (Asia), where he was most recently President, Asia Region. The company also announced that Andre Cohen, currently President and CEO of Coach China, will assume the newly created position of President and CEO, Coach Asia with responsibility for Hong Kong, Macau, Singapore, Malaysia, and any future directly-operated businesses in the region, reporting to Victor Luis. Also joining the company later this fall and reporting to Mr. Cohen is Nicolas Villeger as Vice President, General Manager of Coach Singapore and Malaysia. Mr. Villeger is currently CEO of Longchamp in Japan. Finally, taking over responsibility for Mainland China operations of Coach China will be Jonathan Seliger, who joins Coach as President and CEO of Coach China based in Shanghai, reporting to Victor Luis. Mr. Seliger joins Coach from the Richemont Group, where for the last five years he has been Managing Director of Alfred Dunhill in China. The establishment of the Coach Retail International business unit complements Coach's existing international business led by Ian Bickley, President of Coach International, who has responsibility for new market development and the management of strategic alliances, joint ventures and wholesale distributorships outside North America. Mr. Frankfort said, “Coach is now well-positioned to drive our directly-operated international retail businesses while continuing to accelerate global new market development and growth through our partnerships around the world. Having proven Coach veterans such as Ian Bickley, Victor Luis, and Andre Cohen in key roles, strengthened by the appointment of these three new, seasoned executives will enable Coach to intensify our focus on our international business and accelerate our prospects for global growth. These new leaders demonstrate Coach's deep commitment to international expansion, notably in Asia.” Coach, with headquarters in New York, is a leading American marketer of fine accessories and gifts for women and men, including handbags, women's and men's small leather goods, business cases, weekend and travel accessories, footwear, watches, outerwear, sun wear, and related accessories. Coach is sold worldwide through Coach stores, select department stores and specialty stores, through the Coach catalog in the U.S. by calling 1-800-223-8647 and through Coach's website at www.coach.com. Coach's shares are traded on The New York Stock Exchange under the symbol COH. This press release contains forward-looking statements based on management's current expectations. These statements can be identified by the use of forward-looking terminology such as "may," "will," "should," "expect," "intend," "estimate," "are positioned to," "continue," "project," "guidance," "forecast," "anticipated," or comparable terms. Future results may differ materially from management's current expectations, based upon risks and uncertainties such as expected economic trends, the ability to anticipate consumer preferences, the ability to control costs, etc. Please refer to Coach's latest Annual Report on Form 10-K for a complete list of risk factors.