Michael Kors (brand)

Michael Kors
Public
Traded as KORS
Founded 1981
Founder Michael Kors
Area served
 Worldwide
Key people
 John D. Idol (Chairman and CEO)
Michael Kors (Chief Creative Officer and Director)
Products Handbags, footwear, accessories, apparel
Total assets Increase US$2.22 billion
Total equity Increase US$1.8 billion
Number of employees
 9184
Website www.michaelkors.com
A Michael Kors purse shop

Michael Kors Holdings (NASDAQ: KORS) is an American luxury fashion company established in 1981 by designer Michael Kors.[1] The company is known for handbags and accessories. As of 2015, the MK Holdings has more than 550 stores and over 1500 in-store boutiques in various countries.[2]

Though the brand began in 1981, it wasn't until 2006 where they opened their first retail stores. Some main compteitors of the brand include Coach, Kate Spade, and Louis Vuitton. Michael Kors has been a popular fashion trend among teen girls, according to a 2015 survey.[3]

Background

As of March 29, 2014, the company has 288 North American retail stores, including concessions and 117 international retail stores, including concessions, in Europe and Japan. As of 2014, the annual revenue for the company was 3.2 billion dollars, with a net income of 670 million dollars.[4]

Trademark protection

There have been multiple counterfeit Michael Kors bags, wallets and other luxury items in Montreal, Canada. In an attempt to end the counterfeit production and to enforce trademark rights, the brand has commenced actions against a major network of counterfeit suppliers and vendors and raided multiple locations throughout the Greater Montreal Area.[5]

References

  1. ↑ "Shares of Michael Kors as Hot as Its Wares". New York Times. Retrieved January 4, 2015.
  2. ↑ "Michael Kors plans rapid expansion with 45 more North American stores". FierceRetail. Retrieved January 4, 2015.
  3. ↑ Kim Bhasin (April 15, 2015). "Michael Kors, Teen Fashion Idol". Bloomberg.com. Retrieved May 2, 2015.
  4. ↑ "Form 10-K". www.sec.gov. Retrieved 2015-05-02.
  5. ↑ "Luxury brand Michael Kors strikes back at Quebec counterfeiters". The Globe and Mail. Retrieved May 2, 2015.
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