Accessory companies haven’t been doing so well for the last few years, especially brands that are pricey but not too pricey, like Coach, Michael Kors, and Kate Spade. A few years ago, Coach decided to pursue wealthier customers and sell higher-priced bags, and that strategy is apparently paying off. [More]
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Kenneth Cole Closing All Of Its Outlet Stores
This has not been a good year for the designer brands that you generally find at outlet malls. Michael Kors, Kate Spade, and Coach have all cut back on their department store presence during 2016, hoping to find customers who will pay full price somewhere else. Kenneth Cole, meanwhile, is trying another tactic: the brand is closing all of its outlet stores, leaving two full-price boutiques, its website, sales through other retailers, and its international business. [More]