Coach CEO Says Proposed Stimulus Package Necessary So Consumers Will Buy His Purses
Whether the U.S. is technically in a recession or not, Coach's CEO Lew Frankfort says consumers are already pretending that it's here. That's why he's in favor of the President's proposed stimulus package—it will "restore confidence in consumers that they will have some additional discretionary money that they would otherwise not expect." That's right: we need a nation-wide tax credit this year so that we can buy more Coach purses.
Frankfort also called consumers "rattled" and "scary," although that second word sounds more like a commentary on how he's doing, not us.
"Coach CEO says U.S. in "consumer recession"" [Reuters]
(Photo: qnr)
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Comments:
Finally, someone willing to think with his heart and not just his brain.
I >heart< you, Lew Frankfort.
Coach makes Man Bags?
Coach used to be really nice. Now it's the kmart of luxury brands.
@cwalters: But I'll be eaten alive by today's fashion conscious society! How many times have YOU meft the house without a matching Purse/Shoes/Jockstrap ensemble and NOT been ridiculed by fashionistas?!?!?
meft... left... is it 5 yet?
I could swear I read somewhere recently that Coach is giving out coupons for their bags for the first time ever, in order to get people to buy 'em...I can has coupon pleez?
That's one of the better reasons for being in favor of the stimulus package that I've seen.
@Dustbunny: It is true that Coach started sending 25% off coupons to it's 'Preferred Clients' ahead of semi-yearly 'events', back in 2007. Naturally that means if you signed up for the mailing list you got a coupon, but if you happened to be a shopper of particular note, they did follow that up with personal phone calls as well.
I saw a disney vacation commercial the other night that specifically mentioned a vacation package that was for $1,600.00 ..... the exact same amount the tax credit will be for married couples who make a certain amount under the newly proposed stimulus package. Thought it was an pretty odd coincidence.
@ Thakadinskypapers: so if I wasn't on the mailing list, I couldn't possibly get a coupon right now? :( *wants a Coach coupon*
I've got my own "stimulus package" right here.
Ppl besides college students buy Coach? That's odd.. :)
Coach used to offer nice leather goods. I owned four quality handbags in the last 15 years. Quality, tastful design, originality, at least an astringent, austere, preppy sensibility? Not so much now.
Dear Mr. Coach CEO,
You are batshit. The reason why we're not buying your purses is that we already have too many. Yes, there is such thing as having too many purses, especially when we need to choose between eating and purchasing home heating oil. Well not me of course. I haven't owned a Coach purse since 1988.
Sincerely,
ari
Headon, For real!
And, Um, no. No Coach ever, nothing. When I get my (thanks for putting up with this administration for soooo long) Check, I'm totally getting coke & strippers...maybe some iTunes, prob some gasoline...that's about it.
I'm supposed to categorize, sort and save my coupons for a month so I can use them when the item goes on sale to save enough money to waste it on Coach shit?
Either that or I just piss away the money on the Coach shit and use the coupon/sale savings to pay the 30% interest on the credit card.
Decisions, decisions.
@forgottenpassword: Disney has been running that commercial for a while. I guess you have just been blessed by not seeing it before.
Why pay full price when you can get the factory-direct authentic bag on eBay for a fraction of the cost?
I like Coach quite a bit, but only the leather goods. I've got three (I bought the first one 12 years ago) and they haven't been bad investments actually. I go by the Coach store and they condition it for free for me and they've also made free repairs to one of the bags. Perhaps not the trendiest bags that you'll ever see (for those, I go to Target or somewhere equally cheap), but classics of good quality that will last for years.
@ceejeemcbeegee: Or at Marshall's or TJ Maxx. They have Coach purses at both now, for like, $50 or $60 bucks.
right. because if i suddenly had some spare cash, i'd spend it on a Coach Purse. Seeing as how I've never done that, I can't see it happening, unless of course there's a coupon in the mail with the tax refund.
Coach is REALLY expensive. In their defense though I've got a 3 year old Coach wallet that barely shows any signs of wear.
If I get a rebate check, I will use it to pay off debt, not buy crap from this jerk.
Kudos to whomever came up with that image.