Coach, Inc., BeautyBank and Aramis & Designer Fragrances Announce the Global Expansion of Coach Beauty

Business Wire, March 05, 2010

NEW YORK -- Coach, Inc. (NYSE: COH), a leading marketer of modern classic American accessories, and BeautyBank in a combined effort with Aramis & Designer Fragrances, divisions of The Estée Lauder Companies Inc. (NYSE: EL) today announced their expansion plans for Coach Beauty. The companies plan to increase their existing fragrance and beauty line globally, with immediate plans to enter North American department stores and specialty retailers, followed by a launch in global markets. Previously, Coach Beauty was available exclusively in Coach freestanding U.S. stores. The North American rollout will begin in March 2010 with the global launch to follow.

“We have been pleased with the customer reactions and industry reception that our fragrance business has garnered in such a short time,” said Kathy Nedorostek, President of U.S. Wholesale and Global Licensing for Coach. “This initial success in our own stores serves to underscore the potential for Coach Beauty with a more extensive distribution network and with the support of BeautyBank and Aramis & Designer Fragrances in heightening awareness.”

“Coach is an iconic brand with an extremely loyal consumer base and has proven time and again to be both relevant and innovative in today’s marketplace,” stated Veronique Gabai-Pinsky, Global Brand President, Aramis & Designer Fragrances, BeautyBank and IdeaBank. “We have a great opportunity to build upon the success we’ve seen with Coach Beauty by expanding our distribution here in the U.S. and around the world.”

The global expansion will begin in March 2010 with the launch of the Coach Signature Fragrance in Bloomingdales, Nordstrom, Macy’s, Dillard’s, Lord & Taylor, Von Maur, Bon Ton, Belk and Sephora stores nationwide. The launch will be supported by an integrated marketing and communications campaign, including widespread national print and web, among other media.

For nearly seventy years, Coach has been a classic part of the landscape of American design. Coach began with twelve eloquently simple bag designs with classic, well-balanced proportions. Over the years, they have expanded with each collection representing a unique synthesis of magic and logic that stands for quality, authenticity, value and a truly aspirational, distinctive American style.

BeautyBank is the entrepreneurial think tank division of The Estée Lauder Companies whose mission is to identify consumer-centric, opportunities around the world across product development, channel diversification and regional expansion and bring these concepts and brands to market through sustainable and profitable business models. The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Company’s products are sold in over 140 countries and territories under the following brand names: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, M•A•C, Bobbi Brown, Tommy Hilfiger, Kiton, La Mer, Donna Karan, Aveda, Jo Malone, Bumble and bumble, Darphin, Michael Kors, American Beauty, Flirt!, Good Skin™, Grassroots Research Labs, Sean John, Missoni, Daisy Fuentes, Tom Ford, Coach and Ojon.

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, scarves, sunwear, jewelry, fragrance and related accessories. Coach is sold worldwide through Coach stores, select department stores and specialty stores, through the Coach catalog in the U.S. by calling 1-800-223-8647 and through Coach's website at http://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” within the meaning of the Private Securities Litigation Reform Act of 1995. Coach and The Estée Lauder Companies intend forward-looking terminology such as “believes”, “expects”, “may” “will”, “should”, “anticipates”, “plans”, or similar expressions to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause the two companies’ actual results to differ materially from those anticipated by the forward-looking statements. 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 and in the “Forward-Looking Information” section of Item 7 of The Estée Lauder Companies’ annual report on Form 10-K, each of which is expressly incorporated herein by reference, and other factors as may periodically be described in the two companies’ filings with the SEC.