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
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