The 'Coach' confusion demystified
In 2014, Coach was launching a store in Mumbai, Palladium mall. The brand was brought here by Genesis Luxury, now a part of Reliance Brands. I fixed up a meeting with Sanjay Kapoor, the CEO of Genesis Luxury, and pitched to him that I wanted to work with him. For me Coach was always a luxury brand, it is, even today. Many years later, one of the ex. Tata Cliq Luxury friends mentioned, and might I say denigrated Coach saying 'Indians think it is Luxury, but it is not'. I have thought over it, multiple times.
Luxury is a very relative thing. For women who want a LouisVuitton bag with them, they don' t want to be seen with COACH merchandise perhaps. But, both COACH and Michael Kors are doing just fine in India.
For someone who comes from a tier II, tier III city, has made it in life working in a tech company, in a bank, a global bank, a VC firm, a Corporate, a KPO, or has found success as an entrepreneur, COACH is still a luxury, which they do not mind buying.
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The ladder
Through my watch collecting journey, I have realised that there is a role 'bridge to luxury' and starting luxury plays. It prepares people for the bigger purchase, and helps them build appreciation for the fine, upper crust of luxury. I apply the same logic to COACH and MICHAEL KORS, they pave a path to LV, Hermes, Gucci, etc.
I wager, if there is any 'graduation' across levels happening in luxury, there are more people who will come to these brands, and then keep on graduating to the next level of Luxury. COACH, and the likes of COACH provide a ladder, to move up higher in the willingness to spend and experience the much refined.
Do you think differently? Let me know in comments.