Business Daily – Lew Frankfort: Building a Billion-Dollar Brand

Host: Ed Butler (BBC World Service)
Guest: Lew Frankfort, Former CEO of Coach
Date: January 23, 2026

Episode Overview

This episode features a revealing conversation with Lew Frankfort, the executive credited with transforming Coach from a small family-run leather goods business into a global, multi-billion-dollar brand. Frankfort reflects on his personal journey from a working-class childhood in the Bronx to becoming CEO of Coach, outlining the guiding philosophies behind the brand’s success, the evolution of American “affordable luxury,” and his views on social change, both in business and society at large.

Key Discussion Points & Insights

Early Life & Formative Experiences

• Working-Class Upbringing
  • Born 1946, Bronx, NYC; father was a policeman, mother a homemaker
  • Grew up in a diverse, working-class apartment building ([02:40])
  • Faced speech impediments and late development as a child
• Education & Defiance of Authority
  • Turning point at age 12: Guidance counselor recommends vocational school; mother insists on college ([03:43–04:35])
  • “My mother said, ‘My son is going to college,’ and she got up during the interview and said, ‘Louis, we’re leaving…’ After a moment of hesitation, I left the room and I said to myself, I guess I’m going to college.” – Lew Frankfort [04:22]
• Coming of Age & Meeting JFK
  • Inspired politically and socially by John F. Kennedy’s campaign ([04:48–05:16])
  • “John Kennedy was running for president, and I found myself interested in the globe and the world. My political and social consciousness grew through my high school and college years.” – Lew Frankfort [04:51]
  • Shook JFK’s hand during a campaign stop in the Bronx ([05:16])

Social Consciousness and Early Career

• Activism & Civic Engagement
  • Became aware of U.S. racial divisions and protested Vietnam War
  • Marched with Martin Luther King Jr. ([05:48])
  • Embraced the 1960s idealism for a better, more peaceful world
• Public Sector Work
  • Worked in New York City government, focusing on human services and Head Start programs for children ([06:23])

Private Sector Transition and the Coach Story

• Pivot to Coach
  • Switched to private sector to support a growing family ([07:12])
  • Hired at Coach (then a small, family-run business) as VP of marketing in 1979
  • Undercover Research: Posed as a Business Week reporter to interview buyers and shopkeepers ([07:49])
    • “Overall on everyone said their Coach was a popular brand, oversold…one person, a shop owner, said it had a cult following. And being a product of the 60s, I thought it’s amazing that a product could be so beloved by its users.” – Lew Frankfort [08:06]

Building Coach into a Global Brand

• Understanding the Consumer
  • Emphasized the emotional connection women have with their handbags ([10:15])
    • “It’s a very intimate product…Women put all their essentials in a bag. They open it multiple times a day, and they develop a relationship with a bag.” – Lew Frankfort [10:26]
  • Opted for natural “baseball leather” that ages beautifully, emphasizing durability and authenticity
• Innovative Retail Strategies
  • Launched a catalog business, then opened the first Coach store in 1981
  • “We treated customers as if they were guests in our home. And we treated employees the way we would like to be treated. And we built a very strong performance family culture…” – Lew Frankfort [11:28]
• Defining ‘Accessible Luxury’
  • Coined the term before going public in 2000 to clarify market positioning ([12:19])
    • Made luxury more attainable without compromising quality

Scaling Up & Navigating Growth

• Balancing Affordability and Luxury
  • Coach handbags priced between a few hundred to just over a thousand dollars ([12:43])
  • Aimed to bridge gap between elite European luxury (e.g., Hermès) and aspirational U.S. brands (e.g., Ralph Lauren, Michael Kors)
  • “Women and men wanted well made products that they could depend upon.” – Lew Frankfort [13:05]
• Purpose-Driven Business
  • Saw his work at Coach as an extension of value-driven purpose
  • Built a diverse, meritocratic workforce that reflected broader American society ([15:03])
    • “Providing access for the immigrant classes to lead a life that would give them the potential of an American dream has always been on my mind.” – Lew Frankfort [15:20]
• Social Responsibility vs. Exclusivity
  • Coach remains aspirational but reaches 30–40% of U.S. households ([15:47])
    • “There’s a lot of gray. Being true to your values is something one can still do in business.” – Lew Frankfort [15:47]

Coach’s International Expansion

• Focus on Emerging Markets
  • Targeted China’s growing middle class, especially in secondary and tertiary cities where European luxury brands had little foothold ([16:43])
    • “We built out a very strong business…focused on the emerging middle class who was striving to have professional careers.” – Lew Frankfort [17:02]

Reflections on New York & Social Change

• View on New York’s Future
  • Acknowledged NYC’s affordability issues and the need for more accessible housing ([18:06])
    • “The city is here forever. New York has never been more vibrant…we can do a much better job in providing affordable housing and we do need to listen to young people.” – Lew Frankfort [18:08]
  • Sees Gen Z as echoing 1960s activism, focused on climate, peace, sustainability, and ethics ([18:45])
• Assessing Personal & Generational Impact
  • “Clearly, on a macro basis, I have not been successful. I never dreamt that 50 or 60 years after I came of age that the world would be as polarized and divided as it is. But I still remain hopeful on the human condition and I think that the generation that’s coming of age now offer the potential to make the world a better place.” – Lew Frankfort [19:27]

Notable Quotes & Memorable Moments

• On Overcoming Early Stereotypes and Ambitions
  • “My mother said, ‘My son is going to college’… I guess I’m going to college.” – [04:22]
• On Product and Brand Affinity
  • “A product could be so beloved by its users … It’s amazing.” – [08:06]
• On Treating People Well
  • “We treated customers as if they were guests in our home. And we treated employees the way we would like to be treated.” – [11:28]
• On Balancing Purpose and Profit
  • “Finding purpose in what you do is critical.” – [14:09]
• On Social Progress and Limitations
  • “On a macro basis, I have not been successful…But I still remain hopeful on the human condition.” – [19:27]

Timestamps for Important Segments

• Early Family & Education: [02:40–04:35]
• Political Awakening & Meeting JFK: [04:48–05:37]
• Activism and 1960s Values: [05:48–07:12]
• Transition to Coach, Undercover Research: [07:12–08:28]
• Understanding Coach Consumers/First Store: [10:15–12:19]
• Launching ‘Accessible Luxury’: [12:19–13:05]
• Navigating Purpose vs. Exclusivity: [13:46–15:47]
• International Expansion (China): [16:24–17:35]
• Reflections on New York & Social Progress: [17:35–19:57]

Episode Conclusion

Lew Frankfort’s journey—rooted in social consciousness and driven by a sense of purpose—reflects not just the transformation of Coach, but also the enduring tensions between aspiration, accessibility, and social responsibility in business. His reflections bridge decades of social change and offer hope in the ability of future generations to shape a better world, even as challenges persist.