Michael Kors Holdings (KORS) is a growing global luxury lifestyle brand lead by award-winning designer Michael Kors. Since launching his namesake brand 30 years ago, Michael Kors is setting himself up to be the new Ralph Lauren (RL), creating timeless American luxury sportswear. Right now, Kors is synonymous with luxury accessories and handbags which are highly sought after.

 

Snatching Up Market Share

 

KORS is poised to take market share from luxury brands like Coach (COH). The accessories category is ripe for competition. In 2011, Americans spent $8.5 billion on bags, according to Accessories magazine, an industry bible. Since the company went public three months ago, its ambitions have become clear. Dominate. The company aims to more than double its North American stores to 400, and more than quadruple its department store boutiques to number 1,000-plus. Michael Kors will operate in malls and street locations, yes, like Coach, and sell accessory-heavy collections with a focus on “accessible” luxury.

 

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