coach stock price

Randal Konik, an analyst at Jefferies, had trouble getting into his office in the SoHo neighborhood of New York City on Wednesday. He arrived at his building at 6 a.m., before the sun even rose, but it wasn’t early enough. A line of rabid Selena Gomez fan lined the block hours before they would get a chance to meet the star, and they were blocking the way to his office.

“Based on the lines, the event should be a success, and provides a solid media opportunity for Coach as it continues its brand turn,” Konik wrote in a research note. “Kudos to Coach’s leadership on a smart strategy”

The fans Konik ran into were at Coach’s flagship store in New York for a meet and greet with Gomez. It was the latest example of the brand using Gomez’s star power to boost its brand. The company announced a partnership with Gomez in its second quarter earnings call and has been using her star power to reach a whole new audience.

Coach has been using Gomez to the absolute max. In addition to the fan meet and greet, the company used Gomez’s fame to boost their presence at New York City’s Fashion Week. …read more

Source:: Businessinsider – Finance

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