Accessory companies haven’t been doing so well for the last few years, especially brands that are pricey but not too pricey, like Coach, Michael Kors, and Kate Spade. A few years ago, Coach decided to pursue wealthier customers and sell higher-priced bags, and that strategy is apparently paying off. [More]
There’s a limited number of women who are interested in spending between $200 and $400 for a purse, and that market is becoming more crowded. What’s a company like Coach to do in the face of falling sales and falling profits? Sell more expensive bags targeted at more affluent customers, of course. [More]
Lisa writes that she purchased a neat Lucky Brand patchwork bag from Macy’s just about a year ago, and the bag has fallen apart long before its time. The list price is just above $150, so one would expect it to hold up for more than a few months. While the manufacturer admits that the self-destructing purse isn’t up to their usual standards, they offer no warranty or repair service to customers.