Apple Watch Intrudes On Struggling Luxury Brands
Although Apple execs say the Apple Watch wasn't intended to be a midrange luxury product, recent sales numbers for other brands suggest otherwise.By Evan Thomas | May 28, 2015
Luxury designer firm Michael Kors is starting to feel the sting of overaggressive expansion.
Tantalizing stock prices have driven more and more stores in recent years, but analysts warn you'd be hard-pressed to find a more fickle market than fashion shoppers. Shares sank 24 percent on the company's latest underwhelming earnings report. (Video via Michael Kors)
"Kors, unfortunately, has overexpanded the brand. They've diluted the luxury value of it. The essence of luxury is exclusivity," analyst Craig Johnson told Bloomberg.