Demand from Asia propels Michael Kors
Leathergoods brand Michael Kors has reported recnues for third quarter, which ended in December 26, 2015, increased 6.3% to $1.4 billion, with strong sales in Asia and Europe offsetting tempered growth in the Americas.
The company operated 623 retail stores, including concessions, at the end of 2015, compared to 509 retail stores a year earlier.
CEO John Idol said: “Our performance was driven primarily by strong consumer response to our luxury fashion product offering, particularly in our accessories and footwear categories, the continued momentum in our digital flagship business and outstanding growth in our international markets.
“We remain focused on developing our digital flagship strategy, the build-out of our men’s business, and leveraging our strong brand awareness to expand our business globally. We believe that the continued execution of these strategic initiatives positions us well to deliver long term growth.”
The mid-market luxury company has been growing strongly in recent years, taking market share from rivals such as Coach.
