THEY’RE RUSHIN’ TO GET TO RUSSIA

American Accessory giant COACH plans to enter the Russian market through an arrangement with Jamilco, a luxury goods distributor.

Coach expects to open at least 15 locations in Russia over a five year period, initially concentrating on Moscow and St Petersburg.

The first free-standing Coach store is expected to open in April 2008, at the Seasons Kutuzovsky shopping center in central Moscow. The company also expects to open in the GUM development on Red Square in the fall of this year.

"Russians are fast becoming important consumers of luxury accessories, both domestically and in key travel retail markets such as the Middle East, where Coach has established a retail presence with 10 locations. Opening in Russia is part of our strategy to capitalize on the increasing popularity of the brand with emerging luxury consumers globally," said Ian Bickley, president of Coach International.

Source: just-style.com