This paper describes how Michael Kors is doing business in Canada. There has been seen a decrease in corporate tax rates, general tax rates, and organization tax rates from the year This impacted the company a lot.
Michael Kors was able to make more profit than before. They started to do more charitable activities in order to make their image better in the market. This way, they are able to promote themselves as an ethical company in the market. This shows that the Canadian political environment is favorable for the company. The GDP rate is increasing in Canada. There was a slump in , but it is increasing since then.
It is increasing since This also means that the per capita income of the company has increased too. This way, the company will be able to increase its sales as there will be more buyers in the country.
The more the income of the individuals, the more sales Michael Kors can expect as Michael Kors is a premium high-end brand. The country has a stable economy. The people are more from the middle class. They are educated and wealthy people. There are comparatively causal people than Americans and Europeans. They are not really styled conscious people like Europeans. So, the company should take care of the tastes and demands of Canadians.
They are more casual people. They prefer to buy things which give them more comfort than style. There has been seen a lot of technological development in the country. This also led to such a method through which the company can make its products at lesser costs. The company is making its products at lesser costs, which means more profit margins. The company is enjoying a lot of profits due to technological advancements.
The parent company of Michael Kors is Capri Holdings. Capri Holdings is a multinational company located in the British Virgin island. The company was founded in by Michael Kors. The company sells handbags, accessories, footwear, jewelry, and clothes for both men and women.
The brand is more popular among women than men. Michael Kors was a drop out of a fashion school. Then he joined a design company as a sales executive and later launched his own company with the name Michael Kors. In the company became the licensee for KORS. This was a garment outlet for Michael Kors. In the company launched Celine Shaikh, The ready to wear designer clothes for women.
This was offering both men and women products. In the company purchased Jimmy Choo. In the company also purchased Versace.
The company was renamed Capri holdings from Michael Kors holdings limited. They had full-priced stores and licensed stores Today, So, they decided to expand their business even more.
In the company launched its two stores in America and Canada. Ralph Lauren. Similar analysis has also been done for the competitors of the company belonging to the same category, sector or industry. Browse marketing analysis of more brands and companies similar to Michael Kors. The brand names and other brand information used in the SWOT Analysis section are properties of their respective companies.
The companies are not associated with MBA Skool in any way. What is MBA Skool? About Us. Business Courses. Quizzes test your expertise in business and Skill tests evaluate your management traits. Related Content. Further growth strategy includes targeting a younger, affluent michael kors target market, often overlooked by luxury.. Age groups to prevent the loss of market capitals of the spending michael kors target market Michael Kors strategy!
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