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prada bag prices comes as Coach grapples with a challenging global economy. It just finished a muted holiday season marked by steep price cuts by competitors. It's also facing new rivals, including Michael Kors Holdings Inc., which is cultivating a loyal following for the designer's trendy handbags.In Coach's second fiscal quarter, which ended Dec. 29, revenue at North American stores open at least a year fell 2 percent. In the company's first quarter, the metric, an important one for retailers, rose 5.5 percent. In Asia, meanwhile, growth has been strong in China but sluggish in Japan.Shares of Coach have lost 35 percent of their value over the past 12 months. The stock fell 56 cents, or 1.2 percent, to $48.21 in afternoon trading."They have to put out more fashionable product," said Brian Sozzi, chief equities analyst at NBG Productions. In that arena, "Kors is a clear leader."Frankfort defended Coach, saying the recent holiday quarter was just "a moment in time." He emphasized again Coach's plans to further develop a lifestyle brand focused on accessories.As part of Coach's plan to rev up growth and differentiate itself from competitors, it's trying to make its stores more inviting by opening shoe salons inside its shops, highlighting an expanding footwear collection. It's also expanding into other key categories, including coats and scarves, while creating a head to toe collection that will start to show up in stores this fall. And it's reaching to the past to inspire purse shoppers. Coach last year launched its Legacy collection of handbags inspired by classic styles in the company's archives."Coach is a great company with exceptional brand and business equities and a strong and seasoned leadership team," said Luis in a statement. "Together with Lew, we will build upon the company's strong foundation, leveraging the global opportunity, while continuing to evolve the Coach brand."Longing for Long Island CityPepsi Cola stopped making its sugary drinks in Long Island City a decade ago, but the area is known for creating a different kind of fizz. Once an industrial wasteland, the Queens neighbourhood is New York's newest centre of cool.Factories, among them the former Pepsi