By  on May 30, 2008

HONG KONG — Only a day after acquiring direct control of its stores in Greater China, Coach unveiled a sprawling new flagship in the Central District here.

The 9,400-square-foot store on bustling Queen's Road Central exhibits the scale of Coach's ambitions in the all-important Chinese market for luxury goods. "We're looking over the next five years for our sales [in Greater China] to grow to at least $250 million from approximately $30 million at retail today," said Lew Frankfort, Coach's chairman and chief executive officer, adding the company plans to open at least 50 stores in the Greater China market over the next five years.

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