>> Iconic leather goods maker Coach, hoarding millennial consumers with a massive advertising blitz during New York's Fashion Week. At the center of the campaign, pop star Selena Gomez. Coach, formally unveiling their new Selena Gomez signature line this week at their flagship store in New York City. Reuters retail analyst Jharonne Martis says the collection is poised to be a game changer for the 76-year-old retailer in an otherwise soft market.
>> Coach recently went through a massive transformation, which allows them to really target that millennial consumer. They not only brought a new designer on board that actually picked his pieces very carefully, but they've also been very smart in changing their merchandise to appeal to the millennials. In 2016 we saw that finally they came out crawling into the positive same store sales after ten consecutive quarters of negative growth.
And as a result, now Thomson Reuters is expected to see Coach post a 31% jump in revenue for the year. Selena Gomez is more than a celebrity for Coach, she actually is also involved in the design concept. Her Grace bag has already almost sold out, it's a top seller, and also she has a huge voice when it comes to the brand.
>> Hundreds of Selena fans, some of whom camped out overnight hoping to catch a glimpse of the 25-year-old star.>> I've been a Selena fan since I was little, since her TV show, so I thought this is my chance to see her. I'm a college student, so I don't have money to be buying $200 bags.
>> Millennials definitely have to save up for the bag. It's definitely priced for the aspirational, middle-class consumer. And Coach's strategy right now is to stay away from promotions and discounts, to stay true to the brands.>> This week, Gomez also revealing to her more than 100 million Instagram followers that she'd recently undergone a kidney transplant in her on-going battle with Lupus.