Coach’s attractive pricing enabled it to appeal to consumers who would not normally consider luxury brands, while the quality and styling of its products were sufficient to satisfy traditional luxury consumers. In fact, a Women’s Wear Daily survey found that Coach’s quality, styling, and value mix was so powerful that affluent women in the United States ranked Coach ahead of much more expensive luxury brands such as Hermes, Ralph Lauren, Prada, and Fendi. By 2000, the changes to Coach’s strategy and operations allowed the brand to build a sizable lead in the accessible luxury segment of the leather handbags and accessories industry and made it s solid performer in Sara Lee’s business lineup. With the turnaround successfully executed, Sara Lee management elected to spin off Coach through an IPO in October 2000 as part of a restructuring initiative designed to focus the corporation on food and beverages