Maybe it’s easier for you to see a sister like this in the street, with a Michael Kors bag in your hand, a Lululemon underpants, a Ugg shoe and a North Face shirt, and a Starbucks on your hand. In the eyes of fashion people, all these brands are in their “black list”.
So on the other hand, the brand image of Michael Kors has gradually resulted in the loss of sales volume.
In order to avoid “mediocre road”, Coach, a competitor of Michael Kors, has reduced sales, sold better quality products and converted retail stores to make up for the loss of luxury brand image.
“I think the decline in sales of Michael Kors is related to its brand image,” said Neil Saunders, chief executive of Conlumino, a consultancy. Its brand luxury image is more fragile than Coach, and Coach has been regarded as a more inheriting brand. So it will be more difficult for Michael Kors to retrieve the luxury image.