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Michael Kors Closures Signal Luxury Shift | Raleigh News
Capri Holdings is slashing its Michael Kors footprint—shutting 139 stores in three years, or 17% of its total—amid an 860-million-dollar sales drop, signaling a broader shift where consumers crave experiences over luxury goods. With emotional connection now trumping heritage, brands battle hotels and spas for attention. Internal missteps, including a flopped footwear line and a distracting failed merger with Tapestry, compound the woes. The recent discount sale of Versace to Prada underscores a strategic pivot: trim the portfolio, stabilize finances, and refocus on core brands. Executives are…
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