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prada nylon purse transformed what had been a small leather goods business into a global luxury brand, will step aside next year. The upscale purse and accessories seller said Thursday that Victor Luis will succeed him as CEO in January. Frankfort, who will remain as chairman and CEO until January, will then become executive chairman. AP PhotoCoachShare PhotoCoach's longtime CEO Lew Frankfort is seen in an undated photo provided by Coach. The company said Thursday, Feb. 14, 2013 that Frankfort,, who transformed what had been a small leather goods business into a global luxury brand, will step aside next year. The upscale purse and accessories seller said Thursday that Victor Luis will succeed him as CEO in January. Frankfort, who will remain as chairman and CEO until January, will then become executive chairman. AP PhotoCoachNEW YORKCoach's longtime CEO Lew Frankfort, who transformed what had been a small leather goods business into a global luxury brand, will step aside next year.The upscale purse and accessories seller said Thursday that Victor Luis will succeed him as CEO in January. Luis, Coach's head of international operations, spearheaded the company's fast growth into Asia.Frankfort, who will remain as chairman and CEO until January, will then become executive chairman. He plans to stay in that position "indefinitely," he said in an interview Thursday with The Associated Press. "I don't have a fixed retirement date," he said. "At the same time, we need to prepare the business for the next generation, and Victor is the perfect leader."Frankfort, 66, joined Coach in 1979 as a vice president of business development. Named chairman and CEO in 1995, he shepherded Coach through an initial public offering in 2000 and oversaw the company's growth into a global luxury business. Coach, which generated revenue of $4.8 billion in its latest fiscal year, now runs more than 500 stores in North America and has locations around the world.Luis, 46, became president of Coach's international business a year ago after joining the New York based company in 2006. Coach on Thursday appointed him president of the company and chief commercial officer, and named him to the board.The management change