Headquartered in New York City, Michael Kors is an American luxury fashion brand and one of the
. Established in 1981 by American sportswear fashion designer Michael Kors, the company opened its first retail stores in 2006. With an
of 3.52 billion U.S. dollars registered in 2024, the company currently has over
Favorite products and online brand popularity
The accessories segment is Michael Kors' highest revenue generator, accounting for
half of total net sales in 2024. Michael Kors branded handbags are among the
most popular among U.S. teenagers. Similarly, among French consumers Michael Kors has a high standing, with
over 800,000 users owning a Michael Kors handbag. Michael Kors has also become well-known for its jewelry, fragrances and footwear.
Acquisitions and Capri Holdings Limited
The luxury and fashion industry is known for high profile merger and acquisition activities. Many luxury companies are well-positioned to acquire smaller brands, and big luxury groups often merge with the sector's other high value names. In 2017, Michael Kors bought
Jimmy Choo, and in 2019, an even a bigger deal came through: the acquisition of the
Italian fashion house Versace. Shortly after, Michael Kors Limited changed its name and the three brands now operate under Capri Holdings Limited, with Michael Kors
driving the largest share of revenues for the group. Most recently, Michael Kors has been involved in talks of a potential acquisition by one of its main competitors
Tapestry, which owns the brands Kate Spade and Coach. Although the news of a deal between the two companies have been circulating for a while, the merger has been blocked by the U.S. Federal Trade Commission on anti-competition grounds. The authorities brought forward the claim that the merger would reduce competition, leading to increased prices for consumers and negatively impacting workers' wages.
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