Coach, under pressure from investors to boost revenue, added line after line of merchandise and dozens of factory outlet stores over the past few years, fueling a dramatic run-up in earnings--to the point where Coach isn't really Coach anymore.

Investors proved nervous and sent shares down 9% after the company said returning to growth could take a while.

投资者对蔻驰忧心忡忡。这家公司表示恢复增长可能需要一段时间的消息传出后，公司股价应声下挫了9%。

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Even in China, the motor of its sales growth of late, Coach is tweaking its approach, closing stores in locations that have become less attractive and opening new stores in better spots.

即使在中国市场（也是它近期的销售增长引擎），蔻驰也在调整经营策略：关闭客流不理想的门店，另择新址开设新店。

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Coach is also at a disadvantage because it's not part of a large umbrella corporation that can compensate for slow growth in one of its portfolio companies with fast growth in another.

蔻驰的另一个劣势在于它不隶属于任何一个大公司，因此也不存在销售业绩较好与较差的投资组合公司之间的互补。

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Poor sales prompted a leadership shuffle in July, and after a particularly bad earnings report Tuesday, the stock took its biggest dive in years.

7月，因销量惨淡，蔻驰高层发生了变动，再加上本周二，蔻驰公布了令人失望的收益报告，双重打击之下，蔻驰股票大跌，跌幅创历史新高。

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Coach, which desperately wants a piece of that growth, says that the deal will be immediately accretive to earnings per share.

急切希望分享这一增长的蔻驰表示，这笔收购交易将迅速提振其每股盈利。

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Other winners include Coach, Herm è s and Gucci, while Dior and Armani lost share.

其他的赢家包括蔻驰（Coach），爱马仕（Hermès）和古驰（Gucci），而迪奥（Dior）和阿玛尼（Armani）的市场份额下降了。

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Gucci, Burberry and Louis Vuitton all fit the bill, with slightly less kudos for mid-range names like Coach.

古琦、博柏利和路易威登受到青睐，中等品牌的蔻驰稍逊之。

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In many of the locations, we're going to be bringing Coach-funded sales specialists who will be able to ensure there is a level of customer service.

我们将在众多蔻驰门店内引进蔻驰聘请的销售专员，确保高水准的客户服务。

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Coach shares fell a third last year. Its market capitalisation, which stood at over$ 22bn in 2012, is now down to$ 10bn.

去年蔻驰的股价下跌了三分之一。2012年超过220亿美元的市值，如今跌至100亿美元。

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The new collection is a nod to Coach classics-and an effort to start to win back shoppers who thought the brand had grown too showy in recent years.

这个系列的产品系意味着对蔻驰经典的回归，标志着这家公司在努力重新赢得一些昔日拥趸的青睐。在这些粉丝的印象中，蔻驰品牌近几年变得太花哨了。

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Coach announced today that it is looking for a spot to have a big New York City flagship& why is this important?

蔻驰刚刚宣布了在纽约选址开设一家大型旗舰店的计划。为什么纽约旗舰店计划这么重要？

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It's a problem all luxury brands face, especially public ones: How can you both sell enough on a quarterly basis to make Wall Street happy while at the same time maintaining the aura of exclusivity that got you where you were in the first place?

不仅是蔻驰，全球所有奢侈品牌，尤其是公众品牌，都在面临这样一个问题：如何在保持一个令华尔街满意的季度销量的同时维持产品独有的格调而不违背其品牌初衷。

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Coach, the US leather goods group, is reaping the benefits within China of being more affordable than many of its upscale competitors, but says that spending by Chinese tourists is also growing.

美国皮革制品集团蔻驰在中国正因为产品价格较很多高端竞争对手更亲民而受益，但该集团表示，中国游客的支出也在增加。

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How does your New York heritage play into your expansion plans in Europe, where you remain a small player in many key markets and where many upscale and luxury brands are much older and better established?

在欧洲众多核心市场，历史更悠久的众多高端奢侈品品牌林立，而你们的业务规模仍然较小。蔻驰的纽约历史传承在你们的欧洲扩张计划中将发挥什么作用？

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The brand will consolidate some of its factory stores in the region as well.

蔻驰还将关停北美地区的部分工厂店。

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The UK's Burberry and Coach of the US have scaled back in Hong Kong, where rents are rising but the number of Chinese visitors is falling.

英国的博柏利和美国的蔻驰（Coach）均缩减了香港的业务，在这里，租金在上涨，但中国内地游客数量却在减少。

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Coach CEO Victor Luis, who took the reins in January after helping build the luxury company's international business in recent years, sat down with Fortune at Coach's Manhattan headquarters for an exclusive interview to discuss his strategy.

蔻驰CEO维克多o路易斯近日在公司曼哈顿总部接受了《财富》杂志的专访，阐述了他扭转业务颓势的策略。路易斯今年1月份走马上任，出任蔻驰CEO。此前几年，他一直在这家奢侈品公司国际业务部门担任高管。

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Coach will have its own staff at 50 shops inside a department store next year, and triple that in another 2 years.

明年，我们会在50家百货大楼门店内部署内部蔻驰员工。再过两年，这个数字将增加至150家。

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In September, it will start selling the first collection designed by creative director Stuart Vevers, who has focused on the 73-year-old company's heritage and New York roots.

蔻驰将从9月份开始销售创意总监斯图亚特o维佛斯设计的第一个产品系列。维佛斯的产品设计理念依托于蔻驰73年历史的传承和纽约根源。

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They include Swatch of Switzerland, Swarovski of Austria, Shiseido of Japan, as well as Dell, Tesla and Coach of the United States.

其中包括瑞士的斯沃琪、奥地利的施华洛世奇、日本的资生堂以及美国的戴尔、特斯拉、蔻驰等。

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