Coach is part of Tapestry, the group that also includes Stuart Weitzman and, since July 2017, Kate Spade. Coach is the biggest player, valued at $4bn (3bn) by Bloomberg. The group moved into a new 700,000 sq ft HQ in New York this year, suggesting big plans are afoot.

Net sales are up for Tapestry in the year ending 30 June rising to $1.484bn compared with $1.134bn in 2017. Operating income, however, was down $187.2m compared with $193m a year ago.