The luxury goods company is basking in some media buzz after Michelle Obama wore a gray skirt suit from the designer’s 2013 collection to the State of the Union address.
In the face of fierce competition and heavy cost structures, some brands are rethinking the logic of their diffusion lines.
The luxury sector seems to have reached a turning point, having weathered the crises that beset it all year and buoyed by more benign currency trends.
For fashion brands, watches have emerged as a key vector of growth, often powered by licensing deals with Fossil Group, a watchmaking behemoth that designs, manufactures, distributes and markets million of watches per year.
The Savigny Luxury Index turned around in mid October as confidence in the US economy returned and the US Federal Reserve ended quantitative easing.
Michael Kors Holdings Ltd. (KORS) on Tuesday reported earnings of $207 million in its fiscal second quarter.
The Savigny Luxury Index fell sharply over the month, losing 4.2 percent versus a flat MSCI World Index, as the industry suffers from a general slowdown and a red alert situation in Hong Kong.
Michael Kors Holdings Ltd., a maker of designer clothing and handbags, will hold a secondary offering of 11.6 million shares to let the company’s biggest shareholder sell its stake.
Michael Kors Holdings Ltd. said first-quarter sales rose 43 percent, topping analysts’ estimates, as it took market share from established rivals.
The Savigny Luxury Index fell a further 3.8 percent this month. The outlook for the luxury goods sector darkened as disappointing results from industry leader LVMH showed how the strong euro and political protests in Hong Kong were curbing spending and hitting profits.
NEW YORK, United States — Michael Kors has been riding high with investors, but the retailer's stock is falling this week as some analysts take a look at slowing sales growth and deeper discounts. Two analysts cut their price targets on the stock.