Founded by the world-renowned fashion designer Michael Kors, the brand Michael Kors was founded in 1981. The company is known for producing high-end fashion products such as clothes, shoes, watches, handbags, and other accessories. Since the brand’s inception, Michael Kors has been successful in positioning itself as a luxury fashion label.
Michael Kors products are sold in over 100 countries through various channels, including department stores, specialty stores, and e-commerce platforms through authorized resellers of the products. But its main platform includes its flagship stores and online store.
The brand offers both high-end and lower-priced products, which has helped it appeal to a wider range of consumers. But what makes Michael Kors really popular is its bags that are highly coveted by fashionistas all over the world.
That said, is Michael Kors considered a luxury brand? Let’s find out!
Is Michael Kors A Luxury Brand?
Michael Kors is somewhere between a designer brand and the lower end of luxury brands. The brand is offering products that are chic, stylish, and glamorous which are often seen on its bags. The company’s advertising campaigns feature celebrities and models wearing the brand to attract a wider audience and market itself as a luxury label.
1. Affordability
The number one reason why Michael Kors is considered a designer instead of a luxury brand is because of the product’s affordability. Yes, many of the brand’s products are expensive, but they are not as expensive as other luxury brands. For example, a Michael Kors handbag can cost anywhere from $50 to over $2,000, while a luxury brand such as a Hermes bag can cost from $5,000 to over $10,000.
That said, Michael Kors products are still relatively affordable than the products from other luxury brands. And this is one of the main reasons why the brand has been able to grow so rapidly over the years.
2. Target Market
Another reason why Michael Kors is not a luxury brand is because of its target market. The brand’s target market is mass-market, meaning that it targets a wide range of consumers, including middle-class and upper-class consumers. On the other hand, most luxury brands usually target only upper-class consumers.
This is not to say that middle-class and upper-class consumers do not buy Michael Kors products. In fact, it Michael Kors is often seen used by fashionitas who want to express luxury without breaking the bank. This is all thanks to Michael Kors’ marketing campaigns that targets a wider range of consumers, and it also results to why it is a designer brand instead. The more everyday people use the brand, the more of its exclusivity is taken away
3. Product Quality
When it comes to product quality, Michael Kors products are generally good. The brand uses high-quality materials for its products and employs skilled craftsmanship. Yet, it maintains a relatively affordable price point because these materials are not the finest ones used in luxury items. That said, the quality of Michael Kors products is not on par with luxury brands.
For example, a Hermes handbag is made from the finest materials and construction, which makes it worth its high price tag. On the other hand, a Michael Kors handbag, while well-made, does not use the same high-end materials as Hermes.
4. Does Not Offer Exclusivity
As mentioned earlier, despite that Michael Kors’ target market being middle-class and upper-class consumers, it does not necessarily mean that the brand’s products are only for those consumer brackets. As long as someone has disposable cash, anyone can buy Michael Kors products without a big sacrifice on financial aspects. This is compare to most luxury brands that are truly expensive costing at least $1,000 for starters which is not easy spending for an average person.
5. Uses Celebrity Influences
One of the ways that Michael Kors promotes its products is through celebrity endorsements. The brand has used a number of famous faces to advertise its clothes and accessories, including Kate Hudson, Jennifer Lopez, Sofia Vergara, Blake Lively, and Kendall Jenner. This includes both direct and indirect endorsements.
While there is nothing wrong with using celebrities to promote products, it is something that is usually associated with designer brands, and not luxury brands. Luxury brands usually rely on word-of-mouth and their reputation to sell their products.
6. It Follows The Fashion Trends
Michael Kors is a fashion brand, and as such, it follows the latest fashion trends. It is common for the brand to release seasonal collections that reflect the latest trends in fashion. For example, the brand’s Spring 2022 collection includes a number of trendy pieces that are relevant to what’s in.
While following fashion trends is not a bad thing, it is something that is usually associated with designer brands. Luxury brands usually stay away from following the latest fashion trends. Instead, they focus on creating timeless pieces that can be worn for years to come.
Do Michael Kors Holds Value?
Michael Kors does not hold value and depreciate as soon as a product is sold. The brand’s products are well-made and tend to last for a long time. However, the value of Michael Kors products is bound to depreciate over time.
This is because the brand does not offer exclusivity for its products. Anyone can buy Michael Kors products, which means that there is a higher supply than demand. As such, the products are not as valuable because they are not seen as rare finds, unlike luxury brand pieces.
For example, a Michael Kors product would hold its value for as long as the design, like a handbag, is still in style. But once the design goes out of fashion, the product’s value would decrease.
Frequently Asked Questions
Is Michael Kors a good make?
Yes, Michael Kors is a good brand because its products are high-quality-made. Although it is not on the level of a luxury item, it is still a good, solid product that one person can use for years. Thus, the brand is known for its uncluttered and uncomplicated styling that encompasses sophistication without a very high price mark up than a luxury item.
Who are Michael Kors’ competitors?
According to product pricing, Coach, Kate Spade, and Louis Vuitton are Michael Kors’ main competitors in the industry. This is because all four brands are known for their leather goods, apparel, and accessories.
What is Michael Kors’ competitive advantage?
Since the brand’s inception, Michael Kors has built a strong brand name. This is thanks to the founder itself, Michael Kors, who is a celebrity designer.
But more than that, the affordable price of Michael Kors is also what makes the brand very attractive to shoppers. As a result, the brand remains relevant and affordable, giving it a strong competitive advantage.
