11. Reasons for a crash
• Everyone is wearing MK--Kiss of death
• Inventories are piling up
• The several brands strategy could backfire
12. Solutions
• Lesser discounted stores
• Develop slowly but surely
• Europe and Asia are the target markets
• Enhance jet-set lifestyle in product design; develop
accessories segments, men and kid categories
13. Asia market: China
Source: http://www.businessinsider.com/michael-kors-is-most-searched-for-brand-2013-2
Michael Kors is a rapidly growing global luxury lifestyle brand led by a world-class management team and a renowned, award-winning designer. Since launching his namesake brand over 30 years ago, Michael Kors has featured distinctive designs, materials and craftsmanship with a jet-set aesthetic that combines stylish elegance and a sporty attitude.
Mr. Kors’ vision has taken our Company from its beginnings as an American luxury sportswear house to a global accessories, footwear and apparel company with a presence in over 95 countries.
Celebrity endorsement—sporty, sexy, glam-Michael Kors himself is an asset to the brand and his celebrity friends help him to gain nortoriety and popularity.
Diverse products
Work with different stores, outlets
Develop men section, children (They also have a great opportunity to expand the brand to include more items for men and add children into the mix.)
Licensing with Fossil
Online expansion
Investors want to sell stocks.
High earners but not rich yet –the rise of the new mass affluent
In the latest concluded quarter, the management highlighted accessories as a key driver for retail and wholesale sales growth. The management also separated watches and jewelry as the top performers within its accessories segment.
The company should increase their presence overseas, especially in China, where luxury goods are very popular.
