Michael Kors is a worldwide company. John Idol is the chief executive officer of the Michael Kors company. There isn’t an exact number of employees working at this company for 2013 but for 2012 there was 418,000. The Michael Kors company was founded in 1981. The company’s mission statement is to “bring our vision of a jet-set luxury lifestyle to women and men around the globe”. Michael Kors sells primarily handbags, but also jewelry, clothing, and swimwear. It is a luxury business in the fashion industry. Michael Kors has lots of competition since there are many stores that sell similar products, a couple of these companies are coach, Prada, Gucci, Guess, Marc Jacobs, and Louis button. They are competitors because of how similar the merchandise is and how they are all in the fashion luxury sector. Michael Kors has an excellent CSR, they give back in many ways, such as donating too many charities and special causes. Michael Kors has recently donated 5 million dollars to a non-profit “god’s love we deliver” the New York-based charity organization that provides meals to people living with mental illness.
They have also donated 1 million dollars to the Hurricane Sandy relief fund. Michael Kors also has a campaign called “destination Kors” which he donates 25$ from every purchase of one of his watches to the national world food program. Some of the charities he is involved in and has worked with are, Aids & HIV, children, conservation, environment, health, hunger, mental challenges, and lastly poverty. Michael kors feel very strongly about giving back to his community and helping out the less fortunate, that is a huge aspect in his life, and explains why he is involved with many non-profit organizations looking to help people in need. Michael Kors is a very popular brand which automatically in my opinion makes it smart to invest in the company because of how successful and rich the company already is. Knowing what I know Michael kors will only get more successful and is an extremely smart investment The target market for Michael kors would be women starting from early teens on.
The handbags, jewelry, and clothing attract many high-class women or men who have high-income jobs. Michael Kors is a luxury brand and is fairly expensive, so most consumers are upscale wealthy people who can afford the prices for the merchandise. Michael Kors has a swimsuit line, a line of jewelry, purses, and clothing that is always changing according to the latest trends and the consumers want. The thing that all these lines have in common is that they all have the signature Michael kors logo the “ MK”. The “MK” is short for Michael kors and is easily recognized. It stands out from other brands. Michael kors have many runway shows and are well recognized in the fashion world. He also has some commercials. Once again Michael kors is a Luxury company.