人手一个的奢侈品手袋还能算奢侈品吗？
<p><span word="Coach">Coach</span>, <span word="the">the</span> <span word="maker">maker</span> <span word="of">of</span> <span word="luxury">luxury</span> <span word="handbags">handbags</span> <span word="and">and</span> <span word="other">other</span> <span word="sundry">sundry</span> <span word="accessories">accessories</span>, <span word="has">has</span> <span word="been">been</span> <span word="having">having</span> <span word="a">a</span> <span word="rough">rough</span> <span word="year">year</span>. <span word="Poor">Poor</span> <span word="sales">sales</span> <span word="prompted">prompted</span> <span word="a">a</span> <span word="leadership">leadership</span> <span word="shuffle">shuffle</span> <span word="in">in</span> <span word="July">July</span>, <span word="and">and</span> <span word="after">after</span> <span word="a">a</span> <span word="particularly">particularly</span> <span word="bad">bad</span> <span word="earnings">earnings</span> <span word="report">report</span> <span word="Tuesday">Tuesday</span>, <span word="the">the</span> <span word="stock">stock</span> <span word="took">took</span> <span word="its">its</span> <span word="biggest">biggest</span> <span word="dive">dive</span> <span word="in">in</span> <span word="years">years</span>. <span word="Which">Which</span> <span word="is">is</span> <span word="odd">odd</span>, <span word="because">because</span> <span word="the">the</span> <span word="luxury">luxury</span> <span word="market">market</span> <span word="has">has</span> <span word="been">been</span> <span word="doing">doing</span> <span word="really">really</span> <span word="well">well</span> <span word="overall">overall</span>, <span word="fed">fed</span> <span word="by">by</span> <span word="a">a</span> <span word="global">global</span> <span word="elite">elite</span> <span word="with">with</span> <span word="assets">assets</span> <span word="that">that</span> <span word="seem">seem</span> <span word="to">to</span> <span word="have">have</span> <span word="fully">fully</span> <span word="recovered">recovered</span> <span word="from">from</span> <span word="the">the</span> <span word="recessionary">recessionary</span> <span word="dumps">dumps</span>. <span word="So">So</span> <span word="what">what</span>'<span word="s">s</span> <span word="the">the</span> <span word="problem">problem</span>?</p><p> <span word="Part">Part</span> <span word="of">of</span> <span word="it">it</span> <span word="is">is</span> <span word="certainly">certainly</span> <span word="hard">hard</span>-<span word="charging">charging</span> <span word="competition">competition</span> <span word="from">from</span> <span word="newer">newer</span> <span word="brands">brands</span>, <span word="like">like</span> <span word="Kate">Kate</span> <span word="Spade">Spade</span> <span word="and">and</span> <span word="Michael">Michael</span> <span word="Kors">Kors</span>, <span word="that">that</span> <span word="appeal">appeal</span> <span word="to">to</span> <span word="a">a</span> <span word="younger">younger</span> <span word="audience">audience</span>. <span word="For">For</span> <span word="them">them</span>, <span word="Coach">Coach</span> <span word="is">is</span> <span word="their">their</span> <span word="rich">rich</span> <span word="auntie">auntie</span>'<span word="s">s</span> <span word="label">label</span>, <span word="more">more</span> 5<span word="th">th</span> <span word="Avenue">Avenue</span> <span word="than">than</span> <span word="Mission">Mission</span> <span word="District">District</span>.</p><p> <span word="But">But</span> <span word="the">the</span> <span word="bigger">bigger</span> <span word="problem">problem</span> <span word="may">may</span> <span word="have">have</span> <span word="been">been</span> <span word="growing">growing</span> <span word="too">too</span> <span word="fast">fast</span> <span word="in">in</span> <span word="the">the</span> <span word="first">first</span> <span word="place">place</span>. <span word="Coach">Coach</span>, <span word="under">under</span> <span word="pressure">pressure</span> <span word="from">from</span> <span word="investors">investors</span> <span word="to">to</span> <span word="boost">boost</span> <span word="revenue">revenue</span>, <span word="added">added</span> <span word="line">line</span> <span word="after">after</span> <span word="line">line</span> <span word="of">of</span> <span word="merchandise">merchandise</span> <span word="and">and</span> <span word="dozens">dozens</span> <span word="of">of</span> <span word="factory">factory</span> <span word="outlet">outlet</span> <span word="stores">stores</span> <span word="over">over</span> <span word="the">the</span> <span word="past">past</span> <span word="few">few</span> <span word="years">years</span>, <span word="fueling">fueling</span> <span word="a">a</span> <span word="dramatic">dramatic</span> <span word="run">run</span>-<span word="up">up</span> <span word="in">in</span> <span word="earnings">earnings</span> -- <span word="to">to</span> <span word="the">the</span> <span word="point">point</span> <span word="where">where</span> <span word="Coach">Coach</span> <span word="isn">isn</span>'<span word="t">t</span> <span word="really">really</span> <span word="Coach">Coach</span> <span word="anymore">anymore</span>.</p><p>"<span word="If">If</span> <span word="you">you</span>'<span word="re">re</span> <span word="a">a</span> <span word="luxury">luxury</span> <span word="brand">brand</span> <span word="with">with</span> <span word="outlet">outlet</span> <span word="stores">stores</span>, <span word="maybe">maybe</span> <span word="you">you</span>'<span word="re">re</span> <span word="not">not</span> <span word="a">a</span> <span word="luxury">luxury</span> <span word="brand">brand</span>," <span word="mused">mused</span> <span word="Tim">Tim</span> <span word="Hanson">Hanson</span> <span word="of">of</span> <span word="Motley">Motley</span> <span word="Fool">Fool</span> <span word="Funds">Funds</span> <span word="on">on</span> <span word="a">a</span> <span word="podcast">podcast</span> <span word="Tuesday">Tuesday</span>. "<span word="They">They</span> <span word="took">took</span> <span word="a">a</span> <span word="growth">growth</span>-<span word="at">at</span>-<span word="any">any</span>-<span word="costs">costs</span> <span word="attitude">attitude</span> <span word="that">that</span> <span word="has">has</span> <span word="done">done</span> <span word="brand">brand</span> <span word="damage">damage</span> <span word="that">that</span> <span word="they">they</span> <span word="are">are</span> <span word="paying">paying</span> <span word="for">for</span>, <span word="but">but</span> <span word="at">at</span> <span word="the">the</span> <span word="time">time</span> <span word="that">that</span> <span word="they">they</span> <span word="were">were</span> <span word="doing">doing</span> [<span word="it">it</span>], <span word="it">it</span> <span word="fielded">fielded</span> <span word="stock">stock</span> <span word="price">price</span> <span word="gains">gains</span> <span word="because">because</span> <span word="it">it</span> <span word="allowed">allowed</span> <span word="them">them</span> <span word="to">to</span> <span word="put">put</span> <span word="up">up</span> <span word="very">very</span> <span word="heady">heady</span> <span word="revenue">revenue</span> <span word="numbers">numbers</span>."</p><p><span word="It">It</span>'<span word="s">s</span> <span word="a">a</span> <span word="problem">problem</span> <span word="all">all</span> <span word="luxury">luxury</span> <span word="brands">brands</span> <span word="face">face</span>, <span word="especially">especially</span> <span word="public">public</span> <span word="ones">ones</span>: <span word="How">How</span> <span word="can">can</span> <span word="you">you</span> <span word="both">both</span> <span word="sell">sell</span> <span word="enough">enough</span> <span word="on">on</span> <span word="a">a</span> <span word="quarterly">quarterly</span> <span word="basis">basis</span> <span word="to">to</span> <span word="make">make</span> <span word="Wall">Wall</span> <span word="Street">Street</span> <span word="happy">happy</span> <span word="while">while</span> <span word="at">at</span> <span word="the">the</span> <span word="same">same</span> <span word="time">time</span> <span word="maintaining">maintaining</span> <span word="the">the</span> <span word="aura">aura</span> <span word="of">of</span> <span word="exclusivity">exclusivity</span> <span word="that">that</span> <span word="got">got</span> <span word="you">you</span> <span word="where">where</span> <span word="you">you</span> <span word="were">were</span> <span word="in">in</span> <span word="the">the</span> <span word="first">first</span> <span word="place">place</span>?</p>
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