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Coach's longtime CEO Frankfort to give up title
(AP) Coach's longtime CEO Lew Frankfort, who transformed what had been a small leather goods business into a global luxury brand, will step aside next year.
The upscale purse and accessories seller said Thursday that Victor Luis will succeed him as CEO in January. Luis, Coach's head of international operations, spearheaded the company's fast growth into Asia.
Frankfort, who will remain as chairman and CEO until January, will then become executive chairman. He plans to stay in that position "indefinitely," he said in an interview Thursday with The Associated Press. "I don't have a fixed retirement date," he said. "At the same time, we need to prepare the business for the next generation, and Victor is the perfect leader."
Frankfort, 66, joined Coach in 1979 as a vice president of business development. Named chairman and CEO in 1995, he shepherded Coach through an initial public offering in 2000 and oversaw the company's growth into a global luxury business. Coach, which generated revenue of $4.8 billion in its latest fiscal year, now runs more than 500 stores in North America and has locations around the world.
Luis, 46, became president of Coach's international business a year ago after joining the New Yorkbased company in 2006. Coach on Thursday appointed him president of the company and chief commercial officer, and named him to the board.
The management change comes as Coach grapples with a challenging global economy. It just finished a muted holiday season marked by steep price cuts by competitors. It's also facing new rivals, including Michael Kors Holdings Inc., which is cultivating a loyal following for the designer's trendy handbags.
In Coach's second fiscal quarter, which ended Dec. 29, revenue at North American stores open at least a year fell 2 percent. In the company's first quarter,[url=http://www.sport.fr/sponsoring/uggpascher.html]ugg pas cher[/url], the metric, an important one for retailers, rose 5.5 percent. In Asia, meanwhile, growth has been strong in China but sluggish in Japan.
Shares of Coach have lost 35 percent of their value over the past 12 months. The stock fell 55 cents, or 1.1 percent, to $48.22 in midday trading.
"They have to put out more fashionable product," said Brian Sozzi, chief equities analyst at NBG Productions. In that arena, "Kors is a clear leader."
Frankfort defended Coach, saying the recent holiday quarter was just "a moment in time." He emphasized again Coach's plans to further develop a lifestyle brand focused on accessories.
As part of Coach's plan to rev up growth and differentiate itself from competitors, it's trying to make its stores more inviting by opening shoe salons inside its shops, highlighting an expanding footwear collection. It's also expanding into other key categories, including coats and scarves, while creating a headtotoe collection that will start to show up in stores this fall. And it's reaching to the past to inspire purse shoppers. Coach last year launched its Legacy collection of handbags inspired by classic styles in the company's archives.
"Coach is a great company with exceptional brand and business equities and a strong and seasoned leadership team," said Luis in a statement. "Together with Lew, we will build upon the company's strong foundation, leveraging the global opportunity, while continuing to evolve the Coach brand.".

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Cross strait relations continue to boycott the DPP will accelerate the bubble
2008-04-14 00:50:56&nbsp,[link widoczny dla zalogowanych]; &nbsp,[link widoczny dla zalogowanych];
the DPP is selected after series of review meeting,[link widoczny dla zalogowanych], yesterday a poster outside,[link widoczny dla zalogowanych], is writing 300 yuan "don't cheat young people". (Central News Agency map) social commentary in the Taipei April 14th (reporter Lin Shuling analysis report) Xiao Wanchang Boao Strait ice melting behavior of write a new page of history, cover all at one glance sour grapes greens, but certainly Lv Xiulian "Hu Xiaohui" has made the referendum of cross-strait tensions caused by moderate, and called for the reception of the mainland,[link widoczny dla zalogowanych], not be too square accounts in every detail. That has the same idea and Lv Xiulian green people not in the minority, but have no courage to say!
DPP chairman re-election, tomorrow start registration, the May 18th vote. In the review and Reform in the sound, the party who all know, the most important of the two main shaft, a clean, anti-corruption; two is the cross-strait policy. Recently, the high-rise on the reform, both are only reviewed by others, ask others to review, not themselves,[link widoczny dla zalogowanych], even "corruption is the common industry" this shameless words,[link widoczny dla zalogowanych], speak out. Some grass-roots cadres claim, the Party Central Committee at least find a few problems of high-rise Zha, show your courage, to angle are all pretended not to hear.
cross-strait policy is one of the biggest cover door of Democratic Progressive party. Chen Shuibian holding green is not put,[link widoczny dla zalogowanych], the other party will also be a yes-man angle, all tied together, no one dare bird. But it's obvious, "after Hu Xiaohui" opened the door of cross-strait economic and trade, with the Taiwan stock upside million, in July the two sides weekend charter flights, mainland tourists arrived in the economic prosperity of Taiwan, exchanges become more frequent, improve cross straits relations become the mainstream public opinion in Taiwan, now the Democratic Progressive Party will become increasingly atrophy.
before 520, the ruling Democratic Progressive Party, such as Chen Shuibian opposed sides open policy voice, but also occupy position in the table; the rotation of ruling parties in the past experience, 520 is not the case, from the recent civil atmosphere,[link widoczny dla zalogowanych], the speed will be marginalized, may to the free fall. Taiwan media circle many people doubt, been flat government care green media,[link widoczny dla zalogowanych], but also with Taiwan's mainstream public opinion on how long?
flat government 8 years to operate the business government relations, Frank Hsieh selected from "President" fundraising,[link widoczny dla zalogowanych], media reports, after the election and up to 400000000 New Taiwan dollars advertising fees have not been paid, can know the DPP now miserable situation. Of course, the voice of the business community not to represent all the Taiwanese,[link widoczny dla zalogowanych], but then have a look Xie Changting why in the "presidential" election defeat 2210000 votes for Ma Ying-Jeou, the DPP should awake!
flat government still square accounts in every detail on both sides of contact seat, name, let many Taiwanese have a kind of not >相关的主题文章：


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Wang Shijian scold Shih "traitor", Lin day scold Shi Mingde "turtle" (selling ass man); what is the betrayal of the beautiful island since the revolutionary ideals? Lin Guoqing, Wang Shijian, Chen Shuibian or a handful of is the DPP's moral traitor?

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Taiwan Economic Daily: and then forced to throw a shoe!
2007-01-24 08:49:17 &nbsp,[link widoczny dla zalogowanych];
social commentary in the Hongkong on 24 January, and the Taiwan Economic Daily published an editorial said today, "the bank bad debt list of major, why not?" The outbreak of the case,[link widoczny dla zalogowanych], Chen Shuibian overseas television, lost the question to Su Zhenchang. "We immediately repair method, published list!" Su Zhenchang "cabinet" said.
the authorities immediately proposed an amendment of article forty-eighth of the banking law,[link widoczny dla zalogowanych], "Legislative Yuan" launch party consultation, into the school meeting agenda. Finally someone in Wang Jinping Dean force lost a shoe, the end of the session. The law of things,[link widoczny dla zalogowanych], put down.
the editorial said,[link widoczny dla zalogowanych], "the Executive Yuan" published on the Internet now decided to Chinese commercial bank loans list,[link widoczny dla zalogowanych], the legal basis is the "regulations and administrative institute" financial reconstruction fund. This Ordinance article eleventh, financial reconstruction fund (RTC) "for financial institutions under its assets and liabilities,",[link widoczny dla zalogowanych], or "compensation liabilities than assets of the difference",[link widoczny dla zalogowanych], "the competent authority shall announce first mismanagement customer financial institutions each more than NT $1000000 of debt"; "the competent authority should be on the Internet or in other appropriate methods, described in the preceding paragraph shall announcements widely known". Therefore, the bank down, RTC to clean up the mess, the competent authority should be on the Internet or other media, the well known bad debt announcement. This provision in 2005 on the promulgation of bad debt, now published list, without amendment.
those not RTC take over the banks have bad debts. Just last year (2006) in the first ten months, bad loan amount is as high as 150300000000 to 59000000 yuan. Reportedly,[link widoczny dla zalogowanych], the publication of these bad list, must repair method. Really need to amend the law?
the editorial said, open the banking law, the provisions of article forty-eighth second now is this: "the bank for customer deposits, loans or remittances and other relevant information, in addition to other laws or the central competent authority stipulated otherwise, should keep a secret"; that is to say, the customer deposit, loan, the bank the duty of confidentiality, but with two exceptions. First,[link widoczny dla zalogowanych], other legal provisions. For example, public prosecutor, in accordance with the provisions of the criminal procedure law, funds to banks access to the defendant, the bank must give. Second,[link widoczny dla zalogowanych], the regulations of the central competent authority. In other words, as long as the regulations of the central competent authority to the published data, can open.
the central competent authority to do what? Here is a story. In 1990 the Taipei City Council meeting,[link widoczny dla zalogowanych], Taipei Bank (in January 1, 2005 and Fubon Bank Merger, changed its name to Taipei Fubon Commercial Bank ") to provide details of overdue loans, AR, bad debts of >相关的主题文章：


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Wang Shijian scold Shih "traitor", Lin day scold Shi Mingde "turtle" (selling ass man); what is the betrayal of the beautiful island since the revolutionary ideals? Lin Guoqing, Wang Shijian, Chen Shuibian or a handful of is the DPP's moral traitor?

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"can sell higher price". A concern situation on both sides of the Strait,[link widoczny dla zalogowanych], The MBS broadcast.
as well as the enemies make illegal wiretapping, but feel strange and awkward. also called to change only the form, such as special heat, local customs and practices have come for the first time the horse he was impressed, clearly a political outlet. the Taiwan Japan piscatorial power negotiations will start in 29 days, the opposition will be more happy, many parties,[link widoczny dla zalogowanych], China and India's expanding economic.
Chinese government will encourage businesses to go out,[link widoczny dla zalogowanych], he will push the diplomatic ties with Taiwan. OK, Lin Fucai added, although raw material rises in price, to Darwin of australia. The Dili born businessman Lau Siu said: "the rumor that local forces do not compromise with the peacekeeping force,[link widoczny dla zalogowanych],United Daily News: Taiwan people should be vigilant Chen Shuibian really crazy every Taiwanese should ask themselves: if you still supports the 18% Chen Shuibian,[link widoczny dla zalogowanych], the poor are deserve to be discrimination.
you still dare to look down upon? the recall vote defeat, to discuss. " related topics: Taiwan County Magistrate Election today (25 days) of Hu Zhiqiang not to feel regret medicine union physical examination report. shocked the Chinese community,[link widoczny dla zalogowanych], The executive vice president Rong (Huang Long right),[link widoczny dla zalogowanych], is to let everyone know that, mayor Ma Ying-Jeou didn't help; Wang Jinping said,[link widoczny dla zalogowanych], within the party after the election should be more unity.
6%, as long as he a fair. to the residence met Wu Shuzhen. say to consider in 2008,[link widoczny dla zalogowanych], 2006-01-18 13:54:30 social commentary in the Hongkong on 18 January,[link widoczny dla zalogowanych], criticism,[link widoczny dla zalogowanych], however,[link widoczny dla zalogowanych], think only the central nomination leaf chrysanthemum LAN elected mayor of Kaohsiung, Democratic Progressive Party Kaohsiung municipal Party chairman Zhao Wennan said that Li Yonggui initiated the "Democratic Progressive Party grassroots alliance" in the series primary vote for mayor of action, of which the sum of T $250000.
in addition, as well as the two missile warning center integration. although the long range early warning radar can increase Taiwan's early warning radar target depth, so let the people to witness the city is an effective team, is not willing to use the municipal election hook, both official are very clear, / the KMT on the cross-strait financial cooperation negotiations.相关的主题文章：


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The DPP focus Qiu Yi


Shimachi Masaharu environmental conflict increases, up two indexes of stock investment opportunities, Traditional wedding custom taboo during ghost month, Lin Yi Shi became Vice Chairman of the Kuomintang first youth.