The stock price of Michael Kors fell 37%. Another major hit for the brand was when it was outed from Morgan Stanleys ‘Best Ideas list’. Experts believe the main reason for the downfall is the brand taking an ubiquitous approach, which is a major no-no for upmarket trendy fashion brands, especially the ones targeted to younger consumers. Having several brands at different price points could also be attributing to their troubles. The brand doesn’t have a very strong outlook for the near future either, as the growth continues to dwindle. Watch full video here
Since 2004 Netgains has been building fashion e-commerce website & running effective fashion digital marketing campaigns for fast-growing as well as established fashion brands. Our expertise in fashion eCommerce ensures that your brand and products are delivered to your customers in a way that makes them buy. Get in touch today!