Coach North America - Key Competitors
Below is a detailed list of Calvin Klein, Ralph Lauren, Michael Kors, and Tory Burch. All of these companies have a significant amount of revenue and usually multiple subsidiaries, meaning that they have a large amount of business, success and well-known brand names. Most of these companies do not focus on one specific product, but a myriad of different products such as clothing, handbags, accessories, jewelry, and shoes.
To identify the key competitors to Coach, we looked at companies in North America with a broad line of products. Owler and Hoovers were particularly useful tools in finding specific details on company such as recent revenue and top competitors. Companies with a single or only two lines of products were eliminated and companies with high end products (exceeding $1,000 or more in price for single products) were also eliminated. The final requirement to be considered a key competitor was a successful business model which can be identified by having high revenue and multiple branches. Listed below are Calvin Klein, Ralph Lauren, Micheal Kors, and Tory Burch. (Note Dooney & Bourke is excluded since they only have an income of about $30 million, which is not considered a key competitor compared to the sales of other companies on this list).
Michael Kors has a total revenue of $4.8 billion according to their latest SEC filings, their focus in products is in clothing, handbags, wallets, shoes, jewelry, and accessories. Michael Kors employs around 7,000 employees in 33 subsidiaries and 327 branches as of 2017. Michael Kor's revenue is mainly made in offline sales (wholesale or retail) with $4.08 billion, and only $242.9 million being made in online sales. Michael Kors makes this list since it has a successful and well-known brand name with an expanding revenue in the online market.
Tory Burch is an "online platform" which employs around 1,600 to 2,500 employees with an estimated revenue of $800 million in online sales alone. Tory Burch operates 2 subsidiaries and 74 branches. Tory Burch's main product line features clothing, swimwear, shoes, handbags, and accessories. What makes Tory Burch particularly competitive is its focus in online sales which is a platform that is exponentially expanding as more and more of the world become developed and have access to the internet.
Ralph Lauren's latest SEC filings reveal a revenue of $5.57 billion in offline sales (wholesale or retail) and an additional $584.6 in online sales, bringing their total revenue to around $6.7 billion in 2017. Ralph Lauren employs around 24,000 employees in 29 subsidiaries and 366 branches. Their strongest products are in clothing, shoes, and additional accessories for women; they also have a tailored clothing line, polo shirts, shoes, and additional accessories for men. Ralph Lauren's diversity of products makes it a strong competitor since it sells to both the online market and offline markets.
Calvin Klein is by far the most profitable and largest company in this list, with an annual revenue of $9.1 billion globally in 2017. Calvin Klein employs around 40,000 employees in 3,655 stores. Their main products feature clothing, bags, accessories, and shoes for both men and women. Since Calvin Klein is so successful, it's important to note that their sales in the United States as of 2017 were reportedly $6.6 billion. Calvin Klein is a world-renowned brand that's been incorporated only since 2002 (founded in 1968).
Most of the companies listed above considered direct competitors since they offer similar products and have large amounts of revenue indicating a highly successful business model. All of these companies offer products that are either unisex or provide male and female oriented products. Each of these companies provides a diverse line up of products which are all innovate which helps their respective brand names maintain relevance.