Coach’s Luxury Handbag Sales Rise

Coach (New York) has been attempting to revitalize its business by reducing the amount of discounted products it sells at places such as its outlet stores, which at one time is estimated to have amounted to 70 percent of the company’s sales, reports Fortune.

The company reported its second-quarterly earnings which showed that sales of its handbags that cost upwards of $400 have risen 30 percent over the past year. (Previously, they accounted for only 5 percent of the company’s sales, and now they are up to 35 percent.) Overall, net sales rose 7 percent in its second quarter. The changes, which included hiring Stuart Vevers to design most of its handbags and upgrading many of its stores to a newer format, appear to be paying off.