Ch. 5 - Developing a Global Vision

In 2002, Michael Kors LLC opened its first international stores in London and Tokyo. It has been expanding immensely since then with over 350 stores worldwide. Being the smaller luxury retailer in its category, Michael Kors has and still is successfully establishing its brand in all parts of the world.
With China being one of Michael Kors’ manufacturers, and the handful of stores that are already located there, the company has appointed the chief executive to plan to expand its presence in the greater China. By the year 2015, China will account for about 20 percent of the global luxury market. 

Since 2000, Michael Kors LLC has been signing global licensed agreements with other companies to further expand its brand name in stores other than its own in various parts of the world, such as the following:

• Schwartz & Benjamin  - licensee to produce a full range of shoes
• Le Tanneur & Cie - worldwide licensee (excluding Japan) to produce the line of collection handbags and small leather goods
• The Charmant Group - worldwide licensee to produce and distribute a full range of MK spectacles and sunglasses
• Gibo SpA (a unit of Onward Kashiyama Japan) - licensee to manufacture and distribute worldwide (excluding USA) the collection line
• The Estee Lauder Companies - global licensee to sell the designer’s signature scent in more than 20 countries and territories

Micheal Kors LLC, who is known for its glitzy designs and primarily caters to women, reported robust quarterly results as its namesake luxury brand saw strong demand, and said it expects to drive profits in the coming quarters.

Sources: reuters, estee lauder company, CPP Business of Luxury