Michael Kors Story and Business

This post is also available in: Italian

Michael Kors, the brand founded in 1981 by fashion designer Michael Kors is one of the most famous brands in America and around the world. With its “jet set” style MK is a luxury brand that combines style and elegance with casual. The brand covers a wide range of products ranging from clothing to accessories, from bags to shoes to perfumes and beauty products. MK is a brand that combines luxury with accessibility.

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The brand is divided into two main segments :

  • Michael Kors Collection : the luxury brand’s segment with prices ranging between $ 500-6000 for handbags and leather goods, shoes and clothing from $ 300-1200 400-4000 $
  • MICHAEL Michael Kors Collection the segment of the brand more accessible with prices ranging between $ 200-800 for bags, between $ 45-200 for leather goods, shoes between $ 70-500 and women’s clothing among  50 $ -500$

Despite a difficult start, the brand Michael Kors has achieved in recent years an incredible success and popularity.

 

MICHAEL KORS STORY

Michael Kors was born on August 9, 1959 in the United States.

In 1977, he enrolled in New York’s Fashion Institute of Technology but dropped out soon after to began working at the Manhattan boutique Lothar’s. Kors began designing his own line for Lothar’s, which was eventually spotted and picked up by Dawn Mello of Bergdorf Goodman. Shortly thereafter, Kors debuted his own label Michael Kors founded in 1981 at New York Fashion Week, but the recession of the early 1990s forced the designer to seek bankruptcy protection. Even after that Michael Kors still believed in his dream. In 1997, he began designing for the french brand Céline becoming  the brand’s first creative director. In 2003, Kors exited Céline to refocus full-time on his own brand, bolstered by an investment from Silas Chou and Lawrence Stroll.

In 2004, Kors appeared as a regular judge on the newly-debuted and massively popular reality television series Project Runway, making Michael Kors a household name across America thanks to his punchy humour and witty commentary. This, plus the brand’s savvy formula, combining a streamlined American “jet set” aesthetic with “affordably luxury” price points, helped rocket the Michael Kors company to success.

In 2006 the first Michael Kors store was opened.

In 2011 Michael Kors was listed on the New York Stock Exchange and in late-2011 raised more than $900 million, valuing the company at more than $3 billion, making it the largest fashion IPO in history.

Stores

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The MK Holdings has more than 550 stores and the brand is sold among over 1500 in-store boutiques in various countries.

MANAGEMENT

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Licensed Products

Michael Kors watches have been licensed by Fossil since 2004 and since 2010 Fossil has been the fashion jewelry licensee.   Marchon is the licensee of the Michael Kors eye wear and Estée Lauder since 2003 became the licensee of men’s and women’s fragrance .

Executive Management 

  • MICHAEL KORS Honorary Chairman, Chief Creative Officer and Director
  • JOHN D. IDOL Chairman, Chief Executive Officer and Director
  • JOSEPH B. PARSONS Executive Vice President, Chief Financial Officer, Chief Operating Officer and Treasurer
  • CATHY MARIE ROBINSON Senior Vice President of Corporate Strategy and Chief Operations Officer
  • LEE S. SPORN Senior Vice President of Business Affairs, General Counsel
  • PASCAL MEYRAN Senior Vice President, Chief Human Resources Officer

CAMPAIGNS 

Karmen Pedaru ,Lily Aldridge , Candice Swanepoel ,Chanel Iman, Poppy Delevingne and Michael Kors himself are the faces of the advertising campaigns for Michael Kors

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Competitors

Michael Kors competitors are Guess, Coach, Marc Jacobs and Ralph Lauren .

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STRENGHTS 

The two different lines offered by Michael Kors allow the brand to reach a larger and different audience . The affordable line still considered high-quality allows those who cannot afford the luxury segment to feel as if they are part of the MK world . People love Michael Kors because it is an affordable but still luxury brand.

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WATCH HUNGER STOP

Since Early 2013, Michael Kors Has Partnered With The United Nations World Food Programme (WFP) To Help Fight Global Hunger.
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They create a customizable t-shirt and a limited edition watch created in collaboration with Kate Hudson WHS_LANDING_PAGE_UPDATE_INSITU_10.1_1_TOI

 

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What do you think about Michael Kors? Leave your comment below

 

 

 

 

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