Introduction
For the past thirty-six years Michael Kors has demonstrated their ability to thrive and succeed in the always-changing fashion industry. The luxury brand was first established in 1981, by owner, head designer, and name-sake Michael Kors. They are known for producing handbags, watches, perfumes, women’s and men’s wear, and couture. Moreover, they cater to a wide range of customers; their couture has been featured on red carpets, while their handbags are accessible to the average shopper. Although Michael Kors already has a large fan base, the company is always working to expand. After careful consideration, I find that it would be in the best interest that Tech Shield invest in Michael Kors with caution. While the company is currently …show more content…
Acquiring Jimmy Choo allows Michael Kors to begin expanding their footwear line. Also, Jimmy Choo has a high profit margin and caters to a more elite group. The British shoe brand also reaches a different demographic. Therefor, the acquisition allows Michael Kors to expand their clientele and increase their global presence. Figure 1.2 illustrates Michael Kors; current global presence; while the brand is widely known throughout the United States, spreading internationally could potentially boost revenue. The brand is not widely known in Japan, however, Jimmy Choo is (Company Profile). By acquiring Jimmy Choo, Michael Kors also gained the opportunity to increase net sales globally. Furthermore, the acquisition finalized at a critical time for Michael Kors. Long time competitor, Coach, acquired Kate Spade New York two months before the Jimmy Choo deal finalized. Thus, acquiring Jimmy Choo allows Michael Kors to remain …show more content…
The company currently has innovative marketing strategies that have contributed to their success. For example, the company was one of the first to use Instagram banner ads. Their advertisement attracted 200,000 news visitors to their website within the first thirty days. Certainly, digital innovation is Michael Kors’ strengths, CEO John Idol stated “as a company, we believe that a dynamic and integrated approach to marketing will better engage, educate, and inspire customers,” (Som 330). To illustrate, figure 2.1, demonstrates Michael Kors’ social media presence as of April 2017. Their innovative ways have allowed them to remain competitive. The company has begun integrating fashion and technology in order to attract modern
For the past thirty-six years Michael Kors has demonstrated their ability to thrive and succeed in the always-changing fashion industry. The luxury brand was first established in 1981, by owner, head designer, and name-sake Michael Kors. They are known for producing handbags, watches, perfumes, women’s and men’s wear, and couture. Moreover, they cater to a wide range of customers; their couture has been featured on red carpets, while their handbags are accessible to the average shopper. Although Michael Kors already has a large fan base, the company is always working to expand. After careful consideration, I find that it would be in the best interest that Tech Shield invest in Michael Kors with caution. While the company is currently …show more content…
Acquiring Jimmy Choo allows Michael Kors to begin expanding their footwear line. Also, Jimmy Choo has a high profit margin and caters to a more elite group. The British shoe brand also reaches a different demographic. Therefor, the acquisition allows Michael Kors to expand their clientele and increase their global presence. Figure 1.2 illustrates Michael Kors; current global presence; while the brand is widely known throughout the United States, spreading internationally could potentially boost revenue. The brand is not widely known in Japan, however, Jimmy Choo is (Company Profile). By acquiring Jimmy Choo, Michael Kors also gained the opportunity to increase net sales globally. Furthermore, the acquisition finalized at a critical time for Michael Kors. Long time competitor, Coach, acquired Kate Spade New York two months before the Jimmy Choo deal finalized. Thus, acquiring Jimmy Choo allows Michael Kors to remain …show more content…
The company currently has innovative marketing strategies that have contributed to their success. For example, the company was one of the first to use Instagram banner ads. Their advertisement attracted 200,000 news visitors to their website within the first thirty days. Certainly, digital innovation is Michael Kors’ strengths, CEO John Idol stated “as a company, we believe that a dynamic and integrated approach to marketing will better engage, educate, and inspire customers,” (Som 330). To illustrate, figure 2.1, demonstrates Michael Kors’ social media presence as of April 2017. Their innovative ways have allowed them to remain competitive. The company has begun integrating fashion and technology in order to attract modern