For Homa Zaryouni | 16 June 2014
In this new video, L2 Head of Research Maureen Mullen speaks about the genius strategy most typically associated with michael kors purses since it went public in December 2011. Since then, share deals have steadily increased from approximately $20 per share to near $100 per share. Early on, Michael Kors built a relationship with early consumers by appearing on Activity Runway. In 2009, 28. 7% with this brands’ 400 million sales ended done through direct-to-consumer online business or brand stores. In 2012, seventy two. 1% of its $1. 3 tera- sales were done through symbol owned and operated stores.
Within remarkable about michael kors purse’ emergence from a $400 million company to any $1. 3 billion one, is truly that marketing costs did not explode simultaneously. Michael Kors reduced advertising within traditional channels such as television as print, and invested in social types. Michael Kors, the designer, has credit card 07 million followers on Twitter and fb, and has leveraged his success in the media to make the brand name even more recognizable. The firm has built a video platform called “Living the Kors Life” and syndicated its content across all Meters Kors content channels.
Michael Kors has also become synonymous with Instagram. In October 2012, it formed an Instagram contest inviting boots to share how they styled their Meters Kors watches with the hashtag #MKTimeless. In November of 2013, 4-seasons ran the first Instagram sponsored piece and added 34, 000 hot followers in 24 hours.
Tags: #MKTimeless, Company of Genius, Instagram subsidized post, Maureen Mullen, Michael Kors, Project Runway
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