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Surname1 Name Institution Course Date Michael Kors Michael Kors is a well-known brand for purses and watches. Over the years, it’s become more and more common for someone to own as Michael Kors bag or watch. It’s considered a high-end brand, and is particularly located in outlet stores. In the past seven years, it has grown from 3% to 18% accessories. They seem to be expanding very rapidly. However, their approach of heavily relying on promotions to drive traffic seems to be working against them as their popularity is diminishing. Michael Kors has over 1,500 more stores and outlets that any other high-end brand. It seems to be like discounting prices hasn’t worked very well for them. The stocks dropped about 7% after researchers reported that the Michael Kors had doubled up on discounts this year than last year’s. I believe that if Michael Kors wants to keep calling themselves a high-end brand then, they should slow down with the sales. That really makes them look bad. I have seen purses at Michael Kors went up to 60% discount. It’s okay to have a discount and maybe a holiday or a special occasion but not on a regular day.
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