Michael Kors Charged Into Asia To Enter The Wearable Field

Michael Kors is probably one of the fast growing brands in the fashion industry. It has always been considered by the outside world to be saturated and overexpanded. But John Idol, chief executive of the group, responded in a recent response. He pointed out that after the first listing in 2011, the composite annual growth rate of the company's top product line reached 37%. The company will have more initiatives to implement in the future, especially in the field of e-commerce, men's series and watches, as well as the development of Europe and Asia.

Idol said: "we will continue to seize. market share 。 By expanding the visibility of branded products and taking advantage of our growing e-commerce business. For last year's e-commerce in North America, Idol thinks its performance has been excellent.

Since Friday Terrorist attacks in Paris After that, new problems emerged across the Atlantic. Idol said, "first of all, I am very sad about what happened in Paris, but by the end of last Friday, I was very confident about the European market. But you have to understand that the market environment in some European countries, especially in France and Belgium, will affect our retail environment, and we can not know the unknown crisis in detail. Michael Kors More attention will be paid to the development of digital areas, and even the wearable domain. The brand is expected to take an active part in the digital field next autumn.

The group will launch e-commerce business in Europe next year and will arrive in Asia later. The Group believes that the two regions have many potential for development. As for product categories, most businesses recorded growth, while handbag business slowed down. Michael Kors will increase its growth into men's business, with about 10 retail stores open and 75-80 stores open. The group has been very serious about menswear business, and believes that it will eventually bring $1 billion business to the company. For the expansion of the physical store and digital sector and the development of men's clothing business, Idol said that in the next few years, Michael Kors sales are expected to grow by US $2 billion and push the group's total revenue to US $6 billion 500 million.

According to relevant data, the group's total revenue reached $4 billion 200 million last year. Even so, the brand will still face a tough battle in some parts of its business, including its best developed American region. "Obviously, we are seeing a slowdown in the North American market in North American shopping centers," Idol said. We have talked about this for a year, and many businesses are moving to e-commerce, but we see the bright spot of product innovation. Consumers have positive feedback on this way, and we think the company is developing in this direction.