How Michael Kors can change its current direction

Michael Kors has certainly enjoyed its time in the limelight. Filling a gap in the market, the brand appealed to millions of consumers around the world who were ready to invest in luxury brands, but not quite able to afford their high prices. But a shadow over the company has been spreading as the brand’s popularity in its home market of the US continues to wane. Some say that the brand has lost its once shiny luster and consumer interest in Michael Kors is fading, causing comparable sales to decline and its share price to slip. These issues, coupled with an aggressive expansion plan that was set in motion when the company went public in 2011, means that Michael Kors is currently expanding at a faster rate than it’s business actually growing. With supply from the brand being larger than consumer demand, FashionUnited takes a closer look at the reasons behind these issues and how Michael Kors can turn things around.