Michael Kors Closing Stores

[val2525]

www.ibtimes.com/after-michael-kors-sales-tank-how-much-money-does-company-make-2546093

Designer brand Michael Kors is topping headlines Wednesday after the company announced its decision to close up 125 stores over the next two years. Alongside the retailer’s desire to work alongside the nationwide trend of online shopping, the company also hopes to expand its recognition within Asia.

As of Wednesday, Michael Kors did not confirm which stores would be gone for good and the timeframe for this transition, according to the Los Angeles Times. Yet, the retailer is set to open and focus on stores within beneficial areas.

Michael Kors is now among the ranks of several luxury brands looking to reevaluate their business. Jimmy Choo announced that they were looking to sell the company, Kate Spade was bought by Coach, and Ralph Lauren also battled store closure problems. Other big name retailers looking to cutback include Guess Inc., Abercrombie & Fitch, and BCBG Max Azria.

[chapeaunoir]

I never did figure out Michael Kors, but that's nothing new. Most of these 'designers' don't seem to have much vision.

And ::sigh:: "cutback" is a noun, NOT a verb. It's cut back. But hey, it's only literacy and who cares about that?

[Deleted]

I don't get MK either. They're another one with splashy logos that I see HS students carrying around. They're also in Ross and the other discount stores. I think once a brand has a strong presence in those stores, all thoughts of luxury or high end go out the door.

I think they're smart to make this move. Why spend the money for extra B&M's, when they can sell more online for less cost?

[SA]

Count me into the "I don't get them" crowd.

[RetroMonde]

Hmm, in 20 years we can all sit around with the young 'uns and reminisce about the good old days and something called shopping. There were actually places called STORES with things like clothing or other stuff that you could look at and touch and even try on before you took it to a someone called a salesperson or clerk and paid for it. Some people actually used something called "cash". Gasp! Sigh.

[val2525]

The Kors stuff would be cute if not for the honking huge ugly heavy logo on everything. Ugh.

You start selling everywhere, you're no longer exclusive. If you aren't exclusive, why pay so much for the stuff?

You'd think they'd all figure this out by now.