Coach Opens Second Japan Flagship Store in Shibuya, Tokyo.

Business Editors

NEW YORK--(BUSINESS WIRE)--April 15, 2003

Coach, Inc. (NYSE:COH), a leading marketer of modern classic American accessories, today announced the opening, through Coach, Japan, Inc., of a second Japan Coach flagship store located in the Shibuya section of Tokyo.

The Coach store is on Inokashira-dori, a central point within one of Japan's busiest shopping districts.

Ian Bickley, President of Coach Japan, Inc. said, "We're truly delighted to be opening our second Japan flagship in the hip and fashionable Shibuya section of Tokyo. This store will be among our highest volume locations globally, and will enhance our brand awareness and positioning with the younger and more stylish Japanese customer. This is key to growing and broadening Coach's market share with this important consumer group."

"Further, the Shibuya flagship underscores our commitment to build our multi-channel distribution in Japan, including new flagship locations, retail stand-alone stores and boutiques in select department stores. Consistent with this strategy we will also open three retail stores this spring. The first, Funabashi Lalaport, along the Tokyo-Narita highway, opened quite successfully last month, and was followed in early April by Shinsaibashi Axy, in Osaka. Roppongi Hills, a new mall in Tokyo will be opening next week. In addition, we've also opened a number of important new department stores over the last few months including Sapporo Daimaru, Nagoya Takashimaya and Yokohama Sogo. We are also planning to expand select highly productive boutiques in department stores," Mr. Bickley concluded.

The 7,300 square foot store (approximately 680 square meters) on two floors was designed by Michael Neumann Architecture, LLC and includes the key stylistic elements of our North American flagships. The Shibuya location has a decidedly contemporary feel featuring a sleek, open and inviting format and offering a full selection of Coach's lifestyle accessories. In addition, the flagship's opening is supported by a fun; high-impact integrated marketing campaign designed specifically to resonate with the fashionable Shibuya customer.

Lew Frankfort, Chairman and Chief Executive Officer of Coach, Inc. said, "We are particularly pleased with the new Shibuya flagship, one of ten net openings planned for this fiscal year. It represents a key step in our strategy to broaden our appeal and grow Coach's market share in Japan - our largest growth opportunity outside of the United States."

Coach, with headquarters in New York, is a leading American marketer of fine accessories and gifts for women and men. Coach is sold worldwide through Coach stores, select department stores and specialty stores, through the Coach catalogue in the U.S. by calling 1-800-223-8647 and through Coach's website at 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 based on management's current expectations. These statements can be identified by the use of forward-looking terminology such as "may," "will," "should," "expect," "intend," "estimate," "are positioned to," "continue," "project," "guidance," "forecast," "anticipated," or comparable terms. 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.