"I believe the American male is largely uneducable," said Coach (NYSE: COH) CEO Lew Frankfort, who knows a thing or two about men and the finer things. But read on before you get your gauze plaid scarf -- available in tasteful ivory and navy for $98 from Coach -- in a bunch.

"... I can also say that even the undiscerning American male is a smart consumer: that person is looking for a product that is durable, that is classic, that can stand the test of time ..." Frankfort said recently at the Reuters Luxury Summit.

Purveyors of luxury have had rough times recently, and the Reuters summit let them talk about the past, present, and future. Saks (NYSE: SKS) chief executive Stephen Sadove said luxury spending is rebounding, but Saks isn't going to build many more stores because there aren't many underserved markets.

Reuters also talks about Ginza, Japan's answer to New York's Fifth Avenue, where luxury companies including Tiffany (NYSE: TIF) are up against lower-price stores like Abercrombie & Fitch (NYSE: ANF). More mid-market companies are invading the Japanese shopping district, while uber-brands like Louis Vuitton are scuttling plans to locate there.

Coach is a Motley Fool Stock Advisor recommendation.

Fool online editor Kris Eddy owns no shares of any stocks mentioned in this article. Try any of our investing newsletters free for 30 days. The Motley Fool's disclosure policy likes daisies.