"They think that over time men's products can account for 15 percent of their revenues," she said. "It's tough to do a great business in men's leather goods at the higher end, because I just don't think that men in the U.S. are terribly fashion conscious."
She observed: "They don't know the brand of their wallet."
While Coach already operates 152 factory outlets in America, it is expanding into interational markets with more male products, saying Tuesday that this strategy helped boost its second-quarter net income by nearly 15 percent.
"They'll do a great job in Japan and China, they already are. They're adding square footage there," noted Champine. "But the vast majority of Coach is in the U.S., and I don't think that's changing any time soon."
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Laura Champine does not own Coach shares. Collins Stewart does not make a market in Coach and has not received any compensation from the company in the past 12 months.