Record growth for Michael Kors -159 percent in profit and 73 percent in sales
American fashion brand Michael Kors reports record financial results for the first half of fiscal 2012, beating all expectations and defying debt crisis in Europe and other major countries in economic difficulties. Michael Kors reported this week a stunning 159 percent increase in its profit, to US$166,5 million and a 73 percent growth in revenues, reaching a total of US$947,8 million. Sales of Michael Kors have been booming across all regions, with double digit growth levels – U.S. 45,1 percent ; Europe 97 percent. For the overall 2013 fiscal year, Michael Kors expects a turnover between US$1,86 billion and US$1,96 billion.
Its democratic luxury positioning, the growth of its directly operated retail network and its wide product offering have been the main factors for the continued success of Michael Kors.