Why is everybody into Coach handbags all of a sudden?

coach is a well-established company that targets young people mostly. i think the logoed handbags are extremely tacky, but the average person usually associates carrying a coach bag with being wealthy. but coach is probably the least expensive "designer" brand, and doesn't even deserve to be considered "luxury". they're undesirable to me because EVERYONE has one. reed krakoff, the head designer, actually has expanded the coach empire in the past couple of years by using exotic skins and more avant-garde designs for a more high-end genre. so i applaud him for that, but grimace everytime i see a pre-teen flaunting a $300 logo-splashed hobo. i'll stick with chloe and balenciaga.