It’s official: Michael Kors isn’t cool anymore (2024)

Michael Kors has lost its status as one of the coolest brands in the fashion industry.

The company’s stock is underperforming, leading Morgan Stanley’s It’s official: Michael Kors isn’t cool anymore (1)analysts to
remove Michael Kors from its “Best Ideas” list.

Shares are down 37% in the past year.

Michael Kors enjoyed astunning risein popularity in recent years thanks to its trendy handbags and watches. But growth has been slowing lately, and the company has reported a weak outlook for the future.

So what went wrong?

Widespread popularity is the “kiss of death for trendy fashion brands, particularly those positioned in the up-market younger consumer sectors,” industry expert Robin Lewiswrites on his blog. Lewis compares Michael Kors to Tommy Hilfiger, which reached its peak in the late 1990s.

Michael Kors is considered an aspirational brand, with consumers paying a premium for its label. Once everyone has the product, it is no longer considered cool.

Other brands that have experienced this phenomenon include Juicy Couture, Jordache, and Coach.

Michael Kors also has several brands at different price points, a strategy that could easily backfire,Lewis says. Kors has a high-end department-store brand, a middle-market brand, and a brand for discount outlet stores.

“Some would argue all of those segments will simply end up competing with each other, thus cannibalizing the top end of the spectrum,” he writes.

In other words, consumers will not pay $300 for a Michael Kors bag in a department store when they can get one at the outlet mall for half the price.

It’s official: Michael Kors isn’t cool anymore (2024)

FAQs

What age group wears Michael Kors? ›

But Michael Kors' targeted customers are anything but poor and certainly not interested in settling for the basic necessities. Michael Kors targets the 25- to 54-year-old age group with annual incomes over $50,000.

Is MK considered a luxury brand? ›

Michael Kors is a world-renowned, award-winning designer of luxury accessories and ready-to-wear.

Who wears Michael Kors? ›

#8 Who wears Michael Kors? The brand has dressed A-list celebs and first women alike. Celebs including Taylor Swift, Blake Lively, Bella Hadid and Natalie Portman are regularly seen sporting the brand, and he even dressed Michele Obama for her first inaugural portrait, embedding the brand into history.

Why did Michael Kors change his name? ›

His mother married Bill Kors, when her son was five, and his surname was changed to Kors. His mother told Karl that he could choose a new first name as well and he renamed himself Michael David Kors.

Where does Michael Kors rank? ›

Apparel 50 2017 Ranking
20172016Name
1915Michael Kors
2019Prada
2120The North Face
2222Armani
21 more rows

What is MK brand famous for? ›

The American designer Michael Kors creates a wide range of luxury products such as accessories, watches, jewelry, men and women ready-to-wear, eyewear, footwear, and fragrance.

What is the number 1 luxury brand? ›

The annual report on the most valuable and strongest luxury & premium brands Ranking
20222021Name
11Porsche
23Louis Vuitton
32GUCCI
44Chanel
21 more rows

Is Coach out of style? ›

Coach is back and ready to dominate the handbag industry. The famous leather handbag brand fell out of style as the trends of the early 2000s began to die, but now that there is a revival of Y2K fashion, Coach has completely rebranded itself to fit into the wants and needs of 2021 fashion.

Is MK made from real leather? ›

The majority of Michael Kors handbags are made of saffiano leather. It has become almost a trademark of Michael Kors bags. This type of leather is extremely durable. It is both water-resistant and scratch-resistant.

Is Michael Kors popular anymore? ›

Michael Kors has lost its status as one of the coolest brands in the fashion industry. remove Michael Kors from its “Best Ideas” list. Shares are down 37% in the past year. Michael Kors enjoyed a stunning rise in popularity in recent years thanks to its trendy handbags and watches.

Do celebrities wear Michael Kors? ›

On the other hand, celebrities worldwide love what the designer brings forth for them whether it is the haute couture luxury clothing, designer bags, branded footwear or anything else. This blog would lay down a number of celebrities that have made appearances wearing clothing options or carrying Michael Kors handbags.

Do celebrities wear Michael Kors bags? ›

And it's not just Us who can't get enough of Michael Kors. Celebrities like Gabrielle Union, Amal Clooney, Nicole Kidman, Kate Hudson and Blake Lively have all been spotted toting a Michael Kors bag in their hands.

What does the logo MK stand for? ›

From cookies, yogurt, chocolate, bread, lasagna to chicken chow mein – the MK symbol means it is 100% kosher.”

Is Michael Kors and Calvin Klein the same? ›

Calvin Klein's brand is ranked #413 in the list of Global Top 1000 Brands, as rated by customers of Calvin Klein. Their current valuation is $4.43B. Michael Kors's brand is ranked #- in the list of Global Top 1000 Brands, as rated by customers of Michael Kors.
...
Calvin Klein vs Michael Kors.
55%Promoters
19%Passive
26%Detractors

Is Michael Kors in decline? ›

Since 2016, revenues for the Michael Kors brand have decreased 9.1 percent annually from $4.7 billion to $4.0 billion in 2021, compared to annual industry growth of approximately one percent during the same period.

Is Hugo Boss or Michael Kors better? ›

Hugo Boss's brand is ranked #- in the list of Global Top 1000 Brands, as rated by customers of Hugo Boss. Michael Kors's brand is ranked #- in the list of Global Top 1000 Brands, as rated by customers of Michael Kors. Their current market cap is $1.93B.
...
Hugo Boss vs Michael Kors.
59%Promoters
16%Passive
25%Detractors

Which is no 1 clothing brand in the world? ›

Find more than 4.000 fashion wholesale brands in the International Fashion Brands Directory here.
...
Most valuable fashion brands.
Brand2020 Brand Value $
1Nike$36.8 b
2Louis Vuitton$32.3 b
3Hermes$18.3 b
4Gucci$18.2 b
96 more rows

Is Michael Kors a bigger brand than Coach? ›

Coach's brand is ranked #497 in the list of Global Top 1000 Brands, as rated by customers of Coach. Their current market cap is $3.29B. Michael Kors's brand is ranked #- in the list of Global Top 1000 Brands, as rated by customers of Michael Kors. Their current market cap is $1.93B.

Why do people love Michael Kors? ›

Popularity across the world

Kors can be accredited with bringing luxury fashion to American high streets and homes (there are currently 311 stores in the US) with a simple focus on quality, uncluttered and uncomplicated styling and exclusivity without an alienating price tag.

Does Versace own MK? ›

After rumors of the acquisition, Michael Kors Holdings officially confirmed its purchase of Versace for $2.12 billion.

Is MK made in China? ›

Where are Michael Kors products made? It's a well-known fact that most of Michael Kors products are sourced from China. If you see a “Made In” tag that lists a country other than China, however, don't panic. Michael Kors also produces authentic goods in Italy, Turkey, Indonesia, the Philippines, Vietnam, and Korea.

What is the most respected brand? ›

A Full Breakdown of the Most Valuable Brands
RankBrandCountry
1AppleUnited States
2AmazonUnited States
3GoogleUnited States
4MicrosoftUnited States
6 more rows
Oct 27, 2022

What is the classiest luxury brand? ›

Nearly half of luxury consumers worldwide name Chanel when asked to list luxury brands they are aware of, making the 111-year-old French brand the fashion house with the best luxury name recognition in the world.

Is Coach still cool 2022? ›

Captured with muses from New York to Shanghai, Coach is the cool kid in town we all wanna be friends with. Monogram is truly in vogue again this 2022 and the coolest kid sporting this is Coach as it introduces the Signature collection for Spring 2022.

How will you know if MK is original? ›

Every Michael Kors watch will have MK engraved onto the crown. If the watch is missing the MK or if the engraving is low-quality or difficult to see, it's a forgery. If the watch has a crystal-set bezel, look closely and make sure the design is completely symmetrical.

How do I know if my MK is real? ›

On the metallic logo, check that the “Michael Kors” text is centered beneath the “MK” of the logo. On metal zipper pulls, examine each letter to ensure that they're even in size and shape. The engraved text on fake Michael Kors bags won't be crisp and clear, and the letters might look stamped.

Is Amazon Michael Kors real? ›

We are happy that you are interested in our Michael Kors watches. First of all, we only sell 100% authentic products. We stand behind every watch we sell with our 30 day money back guarantee.

Who are Michael Kors biggest competitors? ›

Michael Kors' main industry competitors include Coach (now Tapestry), Kate Spade, and Louis Vuitton.

What is similar to Michael Kors? ›

The brands like Michael Kors that are closest in comparison are Coach and Tory Burch. All three brands offer the same variety of designs, materials, sizes, and colors. They all also sell products in the same price range.

Who is Beyonce's favorite designer? ›

From her go-to favourite designers like Peter Dundas, Roberto Cavalli and Christopher John Rogers to representing smaller brands and Black-owned brands from across the world, Beyoncé's best looks are varied, unique and sometimes surprising. But one thing's for sure, they are always impactful.

Which celebrity is most fashionable? ›

Zendaya is officially the most fashionable celebrity of 2022, as she receives more than 21,760 monthly searches for her style. Ariana Grande and Billie Eilish rank second and third, respectively. Kim Kardashian and Kendall Jenner both rank among the top 10.

Which celebrity beauty brand is the best? ›

Answer: Fenty Beauty by Rihanna, Rare Beauty by Selena Gomez and Humanrace by Pharrell Williams are some of the highly successful celebrity beauty brands that are totally worth it.

Which handbags are in trend? ›

9 handbag trends 2022
  • Furry Textures. Fendi / Loewe. (Image credit: Getty) ...
  • Luxe Backpacks. Ulla Johnson / Gabriela Hearst. ...
  • Graphic Prints. Prada / Gabriela Hearst. ...
  • 4. Box Bags. Chanel / Louis Vuitton. ...
  • Slouchy Tote. Brandon Maxwell / Chloe. ...
  • Party bag. Acne / Chloé ...
  • Studded detail. Gucci / Valentino. ...
  • Puffy Pouch. Jil Sander / Loewe.
Nov 4, 2022

What bags are considered luxury? ›

17 of the Best Luxury Handbag Brands You Need to Know
  • Louis Vuitton.
  • Iconic Louis Vuitton Bags.
  • Christian Dior.
  • Iconic Christian Dior Bags.
  • Chanel.
  • Iconic Chanel Bags.
  • Prada.
  • Iconic Prada Bags.

Which brands are considered as luxury handbags? ›

The best designer handbags to invest in now
  • Prada. SHOP NOW. The Cleo bag takes influence from archival Prada. ...
  • Gucci. SHOP NOW. ...
  • JW Anderson. SHOP NOW. ...
  • The Row. SHOP NOW. ...
  • Dolce & Gabbana. SHOP NOW. ...
  • Louis Vuitton. SHOP NOW. ...
  • Versace. SHOP NOW. ...
  • Dior. SHOP NOW.
Nov 22, 2022

Why are Michael Kors bags so popular? ›

The reasons why ladies love top designer Michael Kors are endless—the brand is affordable, fashion-forward, and every product is made with high-quality materials. While the brand sells ready-to-wear clothing and accessories like sunglasses and belts, its collection of trendy handbags really takes the cake.

Why is the MK logo a dragon? ›

Tobias reveals that the dragon was inspired by the gold four-toed Chinese dragon statue on the desk of Midway Games' General Manager Ken Fedesna. The statue was originally borrowed to be scanned as an asset to be used in a stage and drawn from the game's original title “Dragon Attack.”

What is the top 10 luxury brand? ›

According to the results, the top 20 most popular luxury brands in the world for 2023 are:
  • Gucci.
  • Dior.
  • Chanel.
  • Louis Vuitton.
  • Hermes.
  • Rolex.
  • Tiffany.
  • Prada.
Dec 19, 2022

Is Jimmy Choo owned by Michael Kors? ›

John D. Idol , Chairman and Chief Executive Officer of Michael Kors Holdings Limited , said, “We are thrilled to have completed the acquisition of Jimmy Choo , which brings together two iconic brands to create a global fashion luxury group.

What is the longest top fashion brand? ›

Hermès! The French fashion house is the world's oldest luxury brand still in operation today. It was established in 1837 by Thierry Hermès.

What age group does Louis Vuitton target? ›

Louis Vuitton caters to both men and women, ages 16 to 80, who are rich. High-income and disposable-income businessmen and women.

What age group does Calvin Klein target? ›

Who is Calvin Klein's Target Audience? Calvin Klein customers are primarily the younger generation, particularly men and women between the ages of 15 and 40. However, anyone with a high income may be interested in fashion and brand trends to purchase the product of their choice.

What is Michael Kors culture? ›

We preserve the integrity of our iconic fashion brand with every customer interaction. We are a community, continuously growing, developing and inspiring team members around the world. We are passionate and encourage curiosity, creativity and innovation.

What age group is H&M? ›

The most common age range of H&M; employees is 20-30 years. 59% of H&M; employees are between the ages of 20-30 years. The least common age range of H&M; employees is less than 18 years.

What age group buys Gucci? ›

The Gucci audience is most likely to be 18-24 years old, followed by 24-35 year olds and a very small over-index for 35-44 year olds. The greatest segment by far is 18-24 year old women—they are 58% more likely than the average consumer to visit Gucci.com.

Who does Gucci target? ›

Strategy, Gucci has done a great job on digital channels like Instagram and Facebook. This means that Gucci has developed a core customer category of 25 to 35 years old, accounting for almost 50% of total sales. Gucci can quickly accept the latest trends and use it to expand its brand awareness.

Do Millennials like luxury brands? ›

Thanks to social media, discovering and falling in love with luxury goods has never been more accessible, with 78% of Gen Z and 70% of millennials already following high-end brands on social channels.

Who is Burberry target? ›

Highly dominated by women with a high disposable income. It is famous for its celebrity appeal. With stores located in largely populated, wealthy and tourist attractive cities.

Who is Zara target? ›

Zara's target market is young, price-conscious, and highly sensitive to the latest fashion trends. They do not define their target by segmenting ages and lifestyles therefore giving them a much broader market and an advantage over traditional retailers.

Who is Tiffany's target? ›

Tiffany & Co 's main target market is upper middle and upper class women. The company is well known for Tiffany jewelry, especially for its diamond. Majority of the women prefer diamond because they believe the existence of true love in their lives.

What does MK stand for brand? ›

Mk is a written abbreviation for mark. Mk is used to refer to a particular model or design of a car or machine. ...

Is Zara owned by H&M? ›

H&M is the second largest international clothing retailer, behind Inditex, the parent company of Zara. H&M was founded by Erling Persson, and its current CEO is Helena Helmersson.
...
H&M.
H&M store on Fifth Avenue, Manhattan
HeadquartersStockholm , Sweden
Number of locations4,801 stores (2021)
Area servedWorldwide
20 more rows

What age group is just jeans? ›

The Just Group comprises a portfolio of highly visible and well-known brands, each of which operates within its own segment and has its own clearly defined customer. Fashionable casualwear at mid-market price points, targeted at the 16-39 year-old with greater sales in womenswear.

What is Nike's age range? ›

What demographic buys the most Nike products? Consumers between the ages of 15-40 buy the most Nike products, including sneakers, apparel, and sporting goods.

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