Thursday, April 25, 2013

Ch. 10 - Product Concepts

Bearing the name of an award-winning luxury clothing and accessories designer with over 300 retail stores located across the globe, Michael Kors has become a powerful brand with worldwide growth in multiple
product lines.


The company has two levels of products, a high-end collection and the MICHAEL collection. The high-end collection is sold through the company's "collection" stores and high-end department stores like Bergdorf Goodman and Harrods. The MICHAEL collection is sold in upper mid tier department stores like Bloomingdale's, Nordstrom and in it's own "Lifestyle" stores.
The company's product lines consist of the following:
 - Michael Kors Beauty Collection
 - MICHAEL Michael Kors
 - KORS Michael Kors
 - Michael Kors Designer Collection

Over the years, MK's product lineup has expanded to include more than just clothing. Each of these product lines consist of several product items. Michael Kors Beauty Collection splits into three main categories of cosmetics; sporty, sexy, and glam. The MICHAEL Michael Kors collection includes women's handbags and shoes as well as ready-wear-apparel. The KORS Michael Kors collection includes footwear and jeans. The Micheal Kors Designer collection includes all runway styles that range between $400 - $6000 in apparel, handbags, and footwear.

Though the effort to reach beyond the high end of the marketplace to gain more consumers is a common goal among luxury companies, there are a limited amount of consumers available at the top of the retail market. Therefore, the shift to lower becomes a necessity to gain more consumers. Michael Kors has successfully managed to balance the acts of keeping high-end customers happy with the differentiation of the products marketed to them. preventing the mid-tier products from tarnishing the brand's high-end image.

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