This is not Dior | UK Marketing & Lifestyle Blog

UK Marketing, Fashion and Lifestyle Blog by 21 year old Fashion Business and Promotion Graduate, Lauren Evans.

Sunday, 10 May 2015

Michael Kors: Is its Over Exposure Detrimental for the Brand?

Whether you're interested in fashion or not, I can almost guarantee you will have heard of Michael Kors. Products of the 'affordable luxury' brand can be seen almost everywhere and it is popular across the globe, primarily among the 16-25 consumer.

In February, MK released its sales figures, which showed a disappointing drop in revenue for the end of 2014. So is the heightened popularity and affordability of Michael Kors making it less desirable?

Being a student myself, I love the idea of a luxury brand presenting itself as affordable and attainable for people with a limited budget such as myself. But I'm also very aware that the sole attribute that sustains true luxury is the exclusivity and almost unobtainable status of the brand.

This is where MK seem to be going wrong; the accessories range in particular, has dropped in price, making it a widespread go-to for inexpensive luxury items, especially among the teenage market. This then results in masses of people wearing the brand, which isn't really what people investing in luxury want.

Instances like this are not as rare as you might think in the fashion industry; who remembers the 'chav' association with Burberry? They realised this was putting many potential buyers off, so successfully re-branded the company and refined its target market, and are once again comfortably situated within the luxury sector.

Brands that conduct a successful reinvention of themselves and turnaround their tarnished reputation, such as the aforementioned Burberry, are known in the fashion industry as 'hero brands'. So can Michael Kors manage this?

I personally think having such a strong brand following in the teenage market can be perceived as a strength, as they will become the next generation of brand investors. Maybe creating a sub-brand to cater for this younger demographic with reflective pricing would be a good idea, and then pursuing a reinvention of the main MK brand to bring back the luxury element.

Who knows where Michael Kors will end up? Let's hope the brand can turn things around and become a desirable label once again!


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