Who owns Michael Kors brand? This question has intrigued fashion enthusiasts and investors alike. As one of the most recognized luxury fashion brands in the world, Michael Kors has a rich history and a dynamic ownership structure that has evolved over the years.
Michael Kors, the brand, was founded by the eponymous designer in 1981. Initially, the brand was a small, New York-based label that focused on women’s accessories and handbags. Over the years, it expanded its product line to include clothing, footwear, and a wide range of accessories. The brand’s iconic designs, which often feature bold colors and clean lines, have made it a favorite among celebrities and fashion-forward consumers.
In 1993, Michael Kors was acquired by the Japanese company, Fendi, which was owned by the luxury conglomerate LVMH Moët Hennessy – Louis Vuitton. This acquisition marked the beginning of a new chapter for the brand, as it gained access to the resources and expertise of one of the world’s leading luxury groups. Under LVMH’s ownership, Michael Kors experienced significant growth and expansion, both in terms of its product offerings and global presence.
In 2015, however, LVMH sold a majority stake in Michael Kors to the private equity firm, Coach, Inc. This move was seen as a strategic decision by LVMH to focus on its core luxury brands while allowing Michael Kors to continue its growth trajectory under a new owner. Coach, Inc., which was known for its own successful luxury handbag brand, saw potential in Michael Kors’ fashion-forward designs and international appeal.
Under Coach, Inc.’s ownership, Michael Kors continued to thrive. The company invested in marketing, product development, and global expansion, solidifying its position as a leading luxury fashion brand. In 2019, Coach, Inc. changed its name to Tapestry Inc., reflecting its commitment to the tapestry of brands under its umbrella, which now includes Michael Kors, Coach, Kate Spade, and Stuart Weitzman.
Today, Tapestry Inc. owns Michael Kors brand, along with other prestigious fashion labels. The company’s focus on creative innovation, quality craftsmanship, and sustainable practices has allowed Michael Kors to maintain its status as a top luxury fashion brand. While the ownership has changed over the years, the brand’s core values and commitment to excellence have remained steadfast.
In conclusion, the ownership of Michael Kors brand has been a dynamic journey, from its inception as a small New York label to its current status as a leading luxury fashion brand under Tapestry Inc. The brand’s evolution is a testament to its ability to adapt to the changing fashion landscape while staying true to its iconic style and brand identity.
