Michael Kors Emphasizes Inclusivity and Customer Focus Amid Capri Holdings' Strategic Shift
Capri Holdings is shifting its focus to the Michael Kors brand following the sale of Versace to Prada for $1.4 billion. The Kors brand accounted for about 70% of Capri's sales in the last financial year, highlighting its significance within the group.
Michael Kors recently opened a flagship store on Regent Street, London, as part of the brand's leadership emphasis on staying curious and prioritizing real customer needs over mere fashion spectacle. Kors advocates for inclusive sizing and age diversity on runways, maintaining a commitment to casting a range of sizes amid industry concerns about renewed pushes for size-zero models and the impact of weight-loss drugs.
The brand operates MICHAEL Michael Kors as its mid-tier, mass-market accessible arm. Its mid-tier pricing strategy includes bags like the Quinn tote priced around £230 and the Hamilton bag at £275, price points credited by John Lewis for making Kors a top-seller since 2013.
Founded in 1981, Michael Kors began with athleisure-inspired pieces and has expanded to include watches, shoes, eyewear, and fragrance. Kors is among the last three major American heritage brands designing at their namesake companies, alongside Ralph Lauren and Tommy Hilfiger. At 66, Kors focuses on future endeavors rather than succession plans, stressing the importance of understanding diverse customer needs to keep the brand relevant. He has also been a judge on Project Runway for ten seasons.
