Coach Social Climbs with Legacy

Coach, the most popular affordable bag line ($195 - $300) in the world, has aspiration to capture the higher end market with it's new line named Coach Legacy (an alligator bag is $10,000, leather bags range from $495-$795). My question is, if you had ten grand to blow, would you buy a Coach bag made in China? Or would you go straight to Hermes and invest in a birkin or kelly? My opinion is that you can not go high once you've established yourself as the bargain brand because there is no perceived value attached to the brand. Existing luxury brands, however, do well expanding into lower end lines. For example, should Hermes ever branch out to the lower end market, they would do a bang up business because who wouldn't want a little piece of Hermes at a fraction of the price? I mean look at the Legacy bag featured above, I don't care what they call it, it still looks like a $200 Coach bag to me. "Coach Legacy" boutiques to open in LA on Robertson Blvd. and in New York on Bleeker St. in the Fall. What are your thoughts on Coach's new higher end line?

(Heh - I am not called CoachChick for nothing. I personally LOVE the new line and plan to get one in a few weeks or so.)

source: bagsnob.com