Coach was founded in 1941 when Miles Cahn,a New York City leather artisan, began producing women’s handbags. The handbags crafted by Cahn and his family in their SoHo loft were simple in style and extremely resilient to wear and tear. Coach’s classic styling and sturdy construction proved popular with discriminating consumers, and the company’s initial line of 12 unlined leather bags soon developed a loyal following. Over the next 40 years, Coach was able to grow at a steady rate by setting prices about 50 percent lower than those of more luxurious brands, adding new models, and establishing accounts with retailers such as Bloomingdale’s and Saks Fifth Avenue. The Cahn family also opened company owned stores that sold Coach handbags and leather accessories. After 44 years of family management, Coach was sold to diversified food and consumer goods producer Sara Lee.