Coach, purveyor of once-stodgy purses, is building a hip young customer base with its new designs. Lew Frankfort is the sort of guy who gets emotional about handbags. The 57-year-old chairman and CEO of Coach Inc. points to a straw-and-leather basket in his Manhattan office and insists: "These bags are art!" The baby-blue Hamptons Weekend tote, which also comes in red, white, or black, is such a hit that he wants to make the style a fixture in next year's collection as well. And he's moved by how keenly people want Coach products. One woman he met in Japan, he says, waited more than six hours in line to get into Coach's new flagship store in Tokyo.
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