COH - Tory Burch Said Planning Move Into Men's
- "Burch has lured Jeffrey Uhl away from Coach Inc., where he was a key member of the team that grew the brand’s men’s business to sales that are currently approaching $700 million. Once on board at Burch, Uhl is said to be taking on both women’s and men’s accessories. He is expected to start in a few weeks."
- "A spokeswoman for Burch declined comment Monday, as did Uhl. But sources said Burch could launch men’s accessories as soon as next year."
Key Takeaway from Hedgeye Retail Analyst Brian McGough
Let me start off by saying that Tory Burch is the real deal in retail. She is the female equivalent of Ralph Lauren. Now, Coach's (COH) Jeffrey Uhl may have become expendable when Keith Warren was brought in from Louis Vuitton. But shaking up leadership in a key growth category at a time when COH needs a good story doesn't look good to outside eyes. The reality here is that Men's has become a key point of emphasis for a number of upscale companies like Coach. This latest news of Tory Burch joining the fold makes it that much more competitive. Bottom line? We wouldn't want to have to compete against Tory Burch…she gets it. The upscale Men's space just got a lot more heated.
