Michael Kors Goes From Strength to Strength
It is undoubtedly a good month to be Michael Kors. The designer’s shares have rocketed after it was announced that the company had enjoyed a 71% increase in total revenue in its last quarterly review. Not only is that almost triple the revenue of this time last year, but the company has now lifted its estimates for the whole year. Not bad going when you consider the general economic climate, you’ll have to agree.
So why is it that Michael Kors is enjoying such success? Omar Saad, an investment analyst, has recommended buying shares in Kors and believes that this success is due to the fact that the brand is going through a bit of an overhaul. The Michael Kors label now offers not only gorgeous quality products, but also an “authentic global lifestyle brand”.
However, it isn’t just Michael Kors’ strong brand identity that makes him such a favourite amongst fashion lovers everywhere. Michael Kors is taking advantage of social media, and our burgeoning obsession with Instagram. Users of the hip application are being encouraged to upload images to Twitter with the hashtag #MKTimeless of them wearing their Michael Kors timepieces. The three winners will be given a special edition of the brand’s Runway watch, and maybe even a whole collection of new fashion forward followers.
The campaign is a clever one. Kors is clearly aware of both the importance of social media to his audience, as well as the popularity of the smartphone based Instagram app. By giving control to the consumers through this competition, the brand will undoubtedly enjoy huge amounts of free publicity. Reportedly the brand has seen a 50% increase in activity on Instagram over the past couple of weeks, so evidently the competition is doing exactly what it should be.
The Editeur are thrilled that Michael Kors continues to be both on trend when it comes to brand marketing as well as when it comes to accessories and clothing. As an independent designer womenswear retailer they are well aware of just how important it is to get people interested in the things that you’re doing, and to make sure that you’re always looking to do something that will make you stand out from the crowd. The Chester based boutique sell a huge selection of designer clothing and accessories, including many items from the Michael by Michael Kors collection as well as clothes by Acne, Tibi, and J Brand.