Editors' pick: Originally published Feb. 14.

A sharp drop in the sale of luxury goods after the Brexit vote last year has led some analysts to talk about consumers tightening purses and an imminent slowdown for makers of luxury products. Companies like Louis Vuitton (LVMUY) , Michael Kors (KORS) and Burberry (BURBY) are expected to suffer.

Coach (COH) on the other hand, is expected to buck the trend of falling sales. Its business, including handbags, accessories, and footwear, has grown stronger making the stock a good long-term bet. The company also sports a healthy dividend yield of 3.5%.

Coach began as a family-run workshop in the 1940s. Over the years, it has optimized its distribution strategy focusing on multiple channels including retail stores, e-commerce, and boutiques.

Coach also seems to have a weather-proof business model. Even though many retailers saw weakness in the holiday season, Coach maintained its momentum. Coach reported adjusted earnings of 75 cents a share, ahead of Wall Street estimates for 74 cents a share. Revenue climbed 4% from the prior year to $1.32 billion, meeting analyst estimates. North American same-store sales rose 3%, topping forecasts for an increase of 2.2%. As in recent quarters, Coach was helped by a venture into more premium handbags such as its 1941 collection. Coach's sales of handbags priced above $400 rose to 50% of its retail store sales, up drastically from 30% a year ago.

Coach intends to overhaul its product lines to keep up with consumers changing preferences. The company has revamped the look of its leather goods and expanded beyond women's products to accessories and clothing for both men and women. This change will make Coach's products appealing to more consumers which should allow the company to drive profits.

"For us, it isn't about the last quarter, it's about a very methodical strategy we have been working on now for two and a half year -- we are advancing," Coach CEO Victor Luis told TheStreet's Brian Sozzi in a recent interview. "It's about driving a constant stream of innovation and bringing excitement to the category," Luis added.

The company is also continuing to expand the global reach of its products. This means significant investments in renovating and opening brick and mortar locations. Coach intends to remodel 700 stores and close 75 underperforming locations, which will boost sales.

At 17 times forward earnings, Coach's stock is trading at an attractive discount compared to the luxury goods peer group average of 20 times. The decision to revitalize its product lines and store appearances will allow the company to build upon its strong brand. Also, by expanding into emerging markets Coach has room to build market share in under-penetrated regions which is potentially a big opportunity for profit growth.

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The author is an independent contributor who at the time of publication owned none of the stocks mentioned.