Coach Inc. (COH) is opening its first men's-only store as the retailer moves to extend its reach beyond traditional female customers.

The store will be on trendy Bleecker Street in New York City's West Village, taking over space that was occupied by a Ruehl boutique that was closed as Abercrombie & Fitch Inc. (ANF) shuttered the concept last year.

Coach, known for its leather handbags and accessories for women, wants to explore "a broader men's opportunity for the brand globally," said Mike Tucci, Coach's president of North America retail. Coach is also opening a few men's shops in department stores in Japan.

The 550-square-foot shop, which is planned to open in May, will offer luxury business and travel accessories, small leather goods, footwear, outerwear, timepieces, sun wear, fragrances, and related accessories. The shop will give Coach shelf space it may desire as its department-store customers have been making sweeping inventory cuts.

Coach sees the stores "as labs where we compile an emerging men's collection and evolve our merchandising strategies," Tucci said.

Coach has a limited assortment of goods for men in its stores, which generally run about 2,500 square feet and mostly offer handbags and other fashion accessories to women.

Coach's "Legacy" store, which carries higher-end, limited-edition products from the Coach brand, is next to the men's-store site. The positioning keeps with Bleecker Street outlets including Marc Jacobs, Polo Ralph Lauren Corp. (RL) and James Perse, which all have more than one location in the area.

The men's store, currently covered up, will carry Coach's silver-leaf logo and custom detailing as well as have mahogany awnings with white trim. The interior will have natural wood flooring, industrial-inspired furnishings, custom pendant lighting and leather seating, Coach said.

Coach didn't disclose how much it was spending on the rehab.

Coach is making a bet by introducing a luxury concept while consumers are still haltingly approaching discretionary spending. The retailer late last month said fiscal second-quarter earnings rose 11%, with a boost from holiday sales that improved over 2008's abysmal holiday season. Results beat Wall Street's expectations. But wholesale revenue declined 8% amid reduced shipments to U.S. department stores that have been cutting back inventory to weather the economic downturn.

Coach's success depends on how well it can convince men that they, too, can look to the brand as a real fashion destination, said Susan Nelson, executive director of consumer insights at branding-strategy company Landor Associates.

Working in Coach's favor is its well-known name and "the lack of really great mainstream leather accessories brands for men," Nelson said.

Coach shares were recently up 1.8% to $34.81.

-By Karen Talley, Dow Jones Newswires; 212-416-2196; karen.talley@dowjones.com
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