Lillian Cahn, the creator of the Coach handbag, has died at the age of 89. Having founded the Coach Leatherware Company in 1961, Lillian, along with her husband, Miles, were long associated with the American accessories retailer, creating a number of iconic handbags and tote shoppers for the label.

Posted by Ava Szajna

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US retailers including Macy’s, Target and Urban Outfitters dragged stocks down lower on Wednesday at the re-opening of the US market. According to a report by the Guardian, The Dow Jones industrial average fell 49 points to 13,090 as of noon, while the Standard & Poor’s 500 index lost seven to 1,419.

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Chinese police have made 73 arrests after confiscating more than 20,000 counterfeit bags in a crackdown on companies manufacturing fake products from international brands to be exported worldwide. Reuters cited state news agency Xinhua in a report that said the Chinese police had been working with US authorities to make the arrests, which also resulted in the closure of 37 illegal sites used for the production and sale of the bags.

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Coach has been awarded £160 million in damages after a high-profile internet counterfeiting case involving the handbag brand came to a close.

Posted by Kirsty Simmonds

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Burberry now boasts Facebook’s highest post ‘like’ count for a fashion label, leaving heritage fashion house Christian Dior in second place.

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Retail sales in China grew at a double digit pace over last week’s Lunar New Year holiday period, according to the country’s commerce ministry. Sales were up 16.2 per cent to CNY 470 billion (about USD 74.4 billion at current exchange rates) from the previous year’s holiday period.

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Luxury eyewear maker Luxottica SpA on Wednesday announced fourth quarter sales grew 12 per cent on strong demand from emerging markets, as well as a rebound in Australia. The Italian group said net sales rose to EUR 1.51 billion in the last three months of the year from EUR 1.35 a year before.

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Coach Inc has reported second quarter earnings rose 15 per cent, with strong demand in its domestic North American market. “We've experienced strong response to our new collections and our pricing and assortment strategy continue to resonate with consumers world-wide," Coach chief executive Lew Frankfort said on a conference call.

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Bernard Arnault, the chief executive and chairman of the luxury goods conglomerate LVMH, is set to pay £300 million for three properties on New Bond Street. Arnault is believed to be close to sealing the deal on three shops previously owned by Irish investor David Daly. The stores include Louis Vuitton’s own flagship at 17-20 New Bond Street, as well as two shops let to the luxury stationer Smythson and American handbag retailer Coach.

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US luxury leather goods label Coach has announced plans to list shares in Hong Kong, as it switches its Asian focus from Japan to China. The company will retain its primary stock listing in New York, but said the move would “demonstrate Coachs commitment to, and focus on Asia.”
The high-end handbag maker said in a filing to the Hong Kong stock exchange on Friday that it would issue up to 293.6 million Hong Kong depositary receipts, a method that allows companies already publicly traded elshewre to list in Hong Kong.

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