Michael Kors: Success Through Accessorizing
Posted in articles&news on Mar 2nd, 2012 No Comments »

Michael Kors is killing it. Long a familiar face in fashion as a judge on the popular reality show/ designing competition, Project Runway, Kors stock has taken off since last December. Literally. The eponymous company, run by CEO John Idol and CFO Lawrence Stoll (Kors is the Lead Designer), went public late last year and drew scores of headlines with its stunning debut. Since then, things seem to have only improved. Kors is a prime example of the current disconnect between a recession economy and a booming luxury sales business.
Kors, Idol, Stoll and Director Silas Chou rang the bell on the New York Stock Exchange on December 15 of last year. As of February 24, only a little over two months later, the stock was up by 52.33 percent – YTD. The numbers have been impressive and consistently outshone projections, making Kors something of a stock sweetheart and an investment much touted by Wall Street professionals.
Much of this success has been attributed to successful retailing of Kors wide variety of accessories, handbags and watches. In a telephone interview with Bloomberg Businessweek, Wedbush Morgan Securities analyst, Corinna Freedman, told them that Kors watches, specifically, have become “a status symbol for a certain demographic.” Ostensibly, that would be the demographic that can afford them but, at $ 120 – $ 525, just about anyone able to save up a little money can afford a Kors ‘status symbol” to wear on their wrist.
For a good price, Kors has some very classy and accessible watches (as well as other accessories, handbags and shoes) on the market and this, no doubt, is part of the reason for the company’s success. Affordable classic luxury is unlikely to ever go out of style, particularly as financial woes tend to have absolutely no impact on the desire to look good.
A few personal favorites for under $ 300:
R-L: Michael Kors Mid-Size Mercer Chronograph Watch in Silver ($ 180); Michael Kors Men's Silicone Chronograph Watch in Brown ($ 195); Michael Kors Men's Mid-Size Layton Chronograph Watch in Silver ($ 225)
R-L: Michael Kors Silver Oversized Runway Watch ($ 225); Michael Kors Men's Oversized Chronograph Watch ($ 250); Michael Kors Oversized Two-Tone Watch ($ 250)
R-L: Michael Kors Glitz Chronoraph Bracelet Blair Watch ($ 250); Michael Kors Mid-Size Bradshaw Chronograph Watch in Silver and Rose Golden ($ 250); Michael Kors Ritz Chronograph Watch ($ 250)
R-L: Michael Kors Two-Tone Jet Set Watch ($ 250); Michael Kors Mid-Size Showstopper Chronograph Watch in Brown ($ 275); Michael Kors Oversized Madison Chronograph Glitz Watch in Zebra ($ 275)
R-L: Michael Kors Oversized Madison Chronograph Glitz Watch in White Horn ($ 275); Michael Kors Mid-Size Tribeca Chronograph Watch in Golden and Tortoise ($ 275); Michael Kors Runway Double Glitz Watch in Silver ($ 295)
As seems to be the prevailing story across luxury brands, the opening up of markets in Asia has also been a large part of burgeoning bottom lines. Kors has seen success in these markets and plans to open up approximately 100 new stores on the continent. Even in Europe, where austerity is causing public riots, the brand has managed to grow. Lately, it seems that Michael Kors can do no wrong. The public loves him, the stock market loves him, the consumers love him; he even has a new husband who loves him.
