NEW YORK, Apr 15, 2004 (BUSINESS WIRE) -- Coach, Inc. (NYSE: COH), a leading marketer of modern classic American accessories, today announced the opening, through Coach, Japan, Inc., of a third Japan Coach flagship store located in the Marunouchi section of Tokyo. The Coach store is adjacent to the new Maru Building, near Tokyo station, and within an important business and shopping center.

Ian Bickley, President and Chief Executive Officer of Coach Japan, Inc., said, "We're very excited to be opening our third Japan flagship in the newly redeveloped, chic Marunouchi area in the center of Tokyo. Marunouchi is an especially important market for working Japanese women with high disposable income, our core target. In addition, as has clearly been the case with our Ginza and Shibuya flagships, we expect that this store will enhance our brand awareness and positioning with the hip and fashionable Japanese customer and bring new consumers into the Coach franchise. Accelerating our flagship openings is a key part of our strategy to aggressively expand our market share in Japan."

"Consistent with this strategy, we expect to open up to three additional flagship locations in fiscal year 2005. In addition, we will continue to leverage our prime real estate in department stores, where we've seen remarkable performance at relocated and expanded shop-in-shops. Of course, we will remain focused on driving productivity. We continue to enjoy, and target, double-digit gains in comparable location sales in Japan, driven in large part by consistently well received new product flow, as fashion innovation is key to this important consumer group," Mr. Bickley concluded.

The 5,300 square foot store (approximately 500 square meters) on two floors with a limestone facade includes the key stylistic elements of our other Japanese flagships. New to Marunouchi is polished stainless steel detail and a new bar-style counter for accessories. The store has a decidedly contemporary feel, featuring a sleek, open and inviting format and offering a full selection of Coach's lifestyle accessories. In addition, the flagship's opening is supported by an integrated marketing campaign including advertising, outdoor, special events and a catalog, all featuring a limited edition pieced Signature group which will debut in the Marunouchi store exclusively.

Lew Frankfort, Chairman and Chief Executive Officer of Coach, Inc., said, "We are delighted with the new Marunouchi flagship, one of several retail openings in Japan planned for this calendar year. Our growing brand strength and rapidly increasing market share reinforce our view that we're still in the early stages of development in this extremely important market."

Coach, with headquarters in New York, is a leading American marketer of fine accessories and gifts for women and men, including handbags, women's and men's small leathergoods, business cases, weekend and travel accessories, footwear, watches, outerwear, jewelry, sunwear, and related accessories. Coach is sold worldwide through Coach stores, select department stores and specialty stores, through the Coach catalogue in the U.S. by calling 1-800-223-8647 and through Coach's website at www.coach.com. Coach's shares are traded on The New York Stock Exchange under the symbol COH.

This press release contains forward-looking statements based on management's current expectations. These statements can be identified by the use of forward-looking terminology such as "may," "will," "should," "expect," "intend," "estimate," "are positioned to," "continue," "project," "guidance," "forecast," "anticipated," or comparable terms. Future results may differ materially from management's current expectations, based upon risks and uncertainties such as expected economic trends, the ability to anticipate consumer preferences, the ability to control costs, etc. Please refer to Coach's latest Annual Report on Form 10-K for a complete list of risk factors.

Coach
Andrea Shaw Resnick
212-629-2618