ELMEC SPORT SA signed an agreement with the company Coach,Inc, ("Coach"), based in New York, granting Elmec Sport the exclusive right to import and distribute in Greece its handbags, shoes and accessories collections. The signed agreement's duration is set to be until July the 2nd of 2011. Elmec Sport will establish a retail stores network, planning to open nine (9) points of sale within the next three (3) years, mainly within leading department stores and commercial districts.
Coach has emerged as America's preeminent designer, producer and marketer of fine accessories and gifts for women and men including handbags, business cases, luggage and travel accessories, wallets, outwear, watches, footwear, eyewear, gloves, scarves and fine jewelry.
There are currently over 300 Coach stores in the United States. Coach has built a strong presence in the U.S. through Coach boutiques located within select department stores and freestanding monobrand locations.
While Coach continues to be one of the best recognized accessories brands in the United States, its long-term strategic plan is to increase international distribution and target international consumers. With a global vision in place, Coach now operates stores and shop in shops in nearly (200) two hundred locations in (19) nineteen countries outside the United States.
Coach is a publicly traded company listed on the New York Stock Exchange, traded under the symbol COH. The company employs about 7.500 people worldwide. The turnover of the brand reached the amount of $ 2.1 billion during the fiscal year of 2006 and for 2007 the turnover is estimated to reach the amount of $ 2.6 billion.
The above agreement is in line with the objectives set forth by the administration for (a) further intensification of the trade portfolio of the company with distinguished brands (b) diversification and enlargement of its clientele.