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Forbes contributor and retail consultant Robin Lewis has up and declared the imminent death of the Michael Kors brand (originally published on the author's site The Robin Report). His reasoning lies in the growing ubiquity of the brand's product. In Lewis' words, "wonderful becomes awful," when ubiquity strikes. "The brand stands for nothing for anybody – everywhere," said Lewis. He cited Michael Kors' widespread distribution and products priced at every level in order to hit every customer as what's dragging the company down.
Lewis pointed towards Tommy Hilfiger and Coach as brands who have tried and failed to grow due to their saturation in the market. "The Coach brand is in the middle of its own unraveling, mostly because of its ubiquity. Roughly 70% of its revenues are currently coming from its outlet stores, which gives us more than a hint of its devaluation."
Interestingly, those outlet stores are exactly what Coach wants to do away with as part of its new brand positioning. But Lewis isn't too quick to herald the return of an all-new Coach that will successfully compete in the market, even with the new positioning. "Once a brand is declared as too accessible and overexposed by its loyal customers, no amount of fashion trickery will bring it back," Lewis said. Based on Michael Kors' current trajectory, Lewis predicted that it's only a matter of time until the brand falls victim to the same debilitating label.
· The Coming Crash Of Michael Kors... Take It To The Bank [Forbes]
· Roberto Cavalli Accuses Michael Kors of 'Copying Everything' [Racked]
· Nike, Forever 21 and Michael Kors Topped Insta During NYFW [Racked]