New York—Thank heavens for international sales. Especially if you are a Michael Kors, Coach or Prada. Those luxury leathergoods brands all have seen their sales in Asia specifically or Europe as a means to offset dwindling North American sales.
Coach is a prime example. The brand’s North American sales were off 16%. But international sales rose 7% with China sales rising 20%. The company expects sales in China to rise 10% in the year ending June 2015 as it opens more stores to expand in tier 3 and tier 4 cities.
Moreover, Coach said it expects China sales to top $600 million in fiscal 2015, higher than the $545 million a year earlier.
This is all happening despite the fact that China instituted an austerity plan aimed at curbing the use of luxurygoods to bride officials.
China will continue to play a crucial role in luxurygoods, one that must be watched closely and diligently.
Speaking of being diligent, below are the top 10 online news articles that you ought to know: