Michael Kors Bags Sales Decline

For many women, the perfect accessory is a purse. And a purse that has the label of a designer, like Michael Kors, can add a little bit of extra style to an outfit. However, the luxury brand’s reputation isn’t as high as it once was. In fact, sales of handbags have dropped in recent months, according to a report from NPD Group. And that’s partly due to the changing attitude of shoppers toward designer bags, especially among teenagers.

In a call with investors, CEO John Idol acknowledged that the company’s fast growth had made its products more accessible to a larger audience, which has diminished the brand’s luxury image. The company has already responded to that by ending department store sales and cutting back on its presence in the outlet market.

It’s also tough for a brand to command a premium when you can buy its items on sale elsewhere, like at Nordstrom Rack or TJ Maxx. And once consumers see a product so often at discounted prices, it’s hard for them to think of the brand as luxe, even if the items are still high-quality.

Despite these challenges, Idol is optimistic that the brand can bounce back. And in order to do that, the company will need to change its image and make itself more appealing to younger consumers. One way the company is doing that is by offering free monogramming for its bags. The service can be found on many of the designer’s bag styles, including the Selma Messenger, a purse loved by celebrities like Jessica Alba and Gisele Bundchen.michael kors bags brown

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