Filed by:  Sara Lee Corporation
Subject Company:  Coach, Inc.
Pursuant to Rule 425 under the Securities Act of 1933
File No. 333-54402

The following communications contain certain forward-looking statements.
References made in the following are based on management's current expectations
and beliefs and are subject to a number of factors and uncertainties that could
cause actual results to differ materially from those described in the
forward-looking statements.


The principal risk factors that may cause actual results to differ materially
from those expressed in forward-looking statements contained in this
communication are described in various documents filed by Sara Lee Corporation
with the U.S. Securities Commission, including Sara Lee's Annual Report on Form
10-K for the year ended July 1, 2000, its Quarterly Reports on Form 10-Q for the
quarters ended September 20, 2000 and December 30, 2000, and the offering
circular-prospectus dated March 8, 2001 which is a part of Coach, Inc.'s
registration statement on Form S-4.

                                     *      *        *        *        *

The following press release was issued on April 5, 2001:

FOR IMMEDIATE RELEASE

Media: Theresa Herlevsen, 312.558.8489
Analysts: Janet Bergman, 312.558.8651

SARA LEE CORPORATION ANNOUNCES PRELIMINARY RESULTS OF SUCCESSFUL EXCHANGE OFFER
FOR COACH, INC. COMMON STOCK

CHICAGO (April 5, 2001) - Sara Lee Corporation (NYSE:SLE) today announced the
preliminary results of its successful exchange offer of Coach, Inc. (NYSE:COH)
common stock for Sara Lee common stock. The exchange offer expired at 12:00
midnight (EDT) on April 4, 2001.

Approximately 88.1 million shares of Sara Lee common stock were tendered,
including 22.8 million shares of Sara Lee common stock that were guaranteed for
delivery within three New York Stock Exchange trading days. Sara Lee has
accepted for exchange approximately 41.4 million shares of its common stock in
exchange for approximately



35 million shares of Coach common stock, at an exchange ratio of 0.846 shares of
Coach common stock for each share of Sara Lee common stock. Based on the
preliminary results, which indicate that the offer is oversubscribed, a
proration factor of approximately 46.8% will be applied. As a result, other than
for eligible odd-lot holders, approximately one-half of all tendered shares of
Sara Lee common stock will be accepted. Sara Lee expects to announce the final
results of the exchange offer, including the final proration factor, on
Wednesday, April 11, 2001.

Shares of Coach common stock will be credited to accounts of tendering
stockholders by the exchange agent, Mellon Investor Services LLC, promptly after
the final results of the exchange offer are announced. After the exchange offer,
Sara Lee will have approximately 787 million shares of common stock outstanding.

Sara Lee Corporation is a global branded consumer packaged goods company with
approximately $17.5 billion in annual revenues. Its leading brands include SARA
LEE, DOUWE EGBERTS, HILLSHIRE FARM, KIWI, HANES and PLAYTEX.

Morrow & Co., Inc. has served as information agent for the exchange offer.
Stockholders with questions about the exchange offer should call Morrow at (800)
607-0088, toll-free in the United States or (212) 754-8000 from elsewhere. Banks
and brokerage firms can call Morrow & Co. at (800) 654-2468, toll-free in the
United States. Goldman, Sachs & Co. acted as dealer manager for Sara Lee in
connection with the exchange offer.

Coach has filed a Registration Statement on Form S-4, including an offering
circular-prospectus, relating to the exchange offer described in this press
release and has filed other documents with the Securities and Exchange
Commission (SEC) which contain important information, all of which investors are
advised to read. These and other documents relating to the exchange offer are
filed with the SEC and may be obtained free at the SEC's Web site at
WWW.SEC.GOV. Holders of Sara Lee common stock may also



obtain each of these documents for free by sending a request to Sara Lee
Corporation, Attn: Shareholder Services, Three First National Plaza, Chicago,
Illinois, 60602.


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