Everyone got up from their tables. The screaming was crazy. Everyone says the French are so subdued. Not when you hear Mary J. The event was smaller then, with just Bill Cunningham and a few others taking photos. Where else are you going to see P. The brand just reported earnings for the fourth quarter of fiscal , with sales of stores open at least a year down 7.
Not too long ago, women were happy to shell out hundreds of dollars for the brand's handbags and watches. It's a classic tale: when a brand is overexposed it loses its level of luxury. After all, when everyone has the same bag, it no longer becomes covetable.
Coach for awhile suffered from this problem, but it has been working for awhile to its luxury image. It is somewhat brasher than that of Coach, which is viewed as more of a heritage brand, and I think this has negatively impacted its efforts to become less ubiquitous and turn around its image," Neil Saunders, CEO of consulting firm Conlumino wrote in an email to Business Insider.
Michael Kors has continued to expand, though much of the expansion of the stores , had to do "with the Company's recent acquisitions of Greater China and South Korea and the consolidation of the Latin American operations," as the company announced in its release. It's tough to get consumers to pay a premium when they know they can get something on sale. Consider Gap's Banana Republic : everything's on sale, so why shop at a premium? It's common knowledge that once you start shopping for discounts, it's hard to not consider a brand to be a discount retailer.
There were some who rejected this line of thinking by pointing out simply that it's pretty darn silly to roast someone for liking a product, even if it isn't considered a "rich" brand. Personally, I can't think of a more miserable existence than judging everything you're going to wear and buy based on whether or not others will think of you as "rich" or not.
Hard pass. Others said that MK detractors are just a bunch of folks pretending to be big ballers while they're really just a bunch of nerds trying to flex for strangers. Some even went so far as to offer to take any Michael Kors bags people don't want off of their hands since they think they're so "low class.
Folks who blasted MK has being a "poor brand" also didn't really have anything to say about the company's designs or why they didn't like the designer, other than the fact that it has "poor" connotations. If Michael Kors is now for "poor people", please donate your unwanted Michael Kors goods to me.
I'll DM the mailing address. This is a principle that has been adopted by all other designer brands in all product categories, and keeping the numbers of their products down while producing a limited number of high-quality pieces results in great demand for the products, hence the high price tag.
While this is not always the case, the bigger fashion brands in the designer world understand that their target audience is always interested in the purchase of the best-quality products, even if the prices are considered ridiculous by others.
With this in mind, leading designers and fashion houses like Michael Kors are dedicated to the delivery of only the very best designer bags, which translates to the sale of the best bags and the subsequent high prices for their bags. The fabric used for the bags is a premium-quality fabric that is carefully selected for use by the brand — this requires a high level of expertise and workmanship, both of which are expensive — as is the fabric used.
So, at the end of the day, you will pay a premium for that Michael Kors bag. The use of unique and exotic materials for the bags, for example, is one of the things that drive up the prices of the Michael Kors bags.
Bags made of the Nile crocodile hide are particularly expensive, and this exotic material is what makes for the very high prices for the bags. Given the success of the Michael Kors brand, the uniqueness and the good quality of their products, along with the fact that the brand offers high-end fashion items, Michael Kors qualifies as a luxury brand.
Michael Kors has its flagship stores in some of the flashiest and the most expensive cities in the world, such as New York, Milan, Paris, and London, along with over stores across the globe. With these in mind, the popularity and the brand presence, not to mention the fact that the brand has had many of its products showcased on the global stage, Michael Kors is a luxury brand.
In terms of how expensive the brands are, Louis Vuitton is the biggest name in the luxury fashion world, and their bags mostly cost more than the ones offered by MK. Worth mentioning is the fact that Louis Vuitton boasts a deeper, richer, and older history in comparison with MK, which means that most people revere LV, which translates to the high price tag of LV products.
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