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Coach Inc. (COH) plans to open 30 stores in China next year, bringing the number of its stores in the country to around 100, the South China Morning Post reported Thursday, citing the U.S. handbag maker's chairman and chief executive, Lew Frankfort.
Coach plans to open about 30 stores annually over the next several years, the vast majority of which would be on the mainland, the paper reported Frankfort as saying.
The company, which says its Hong Kong listing could boost awareness of the Coach brand in China, expects China to surpass Japan as its second biggest market in the next few years, behind the U.S., the report said.
Coach lists its depositary receipts in Hong Kong on Thursday.
Newspaper website: http://www.scmp.com
-By Hong Kong Bureau, Dow Jones Newswires; 852-2802-7002; firstname.lastname@example.org