Luxury fashion brand Michael Kors recently revealed that net sales of the company’s fiscal third quarter came up to over $765 million, up 11 percent from the same time last year. The number includes both online- and offline sales, but CEO John Idol said Michael Kors’ e-commerce grew by double digits year over year, Internet Retailer reports.
Encouraged by the development, Michael Kors is now going to expand its online presence from today’s websites in the US and Canda to 22 European countries.
- We are on track to launch in six European countries this fall and an additional 16 countries in Europe thereafter. Our digital flagship strategy is enabling us to engage consumers with our luxury lifestyle brand and provide a best-in-class shopping experience, John Idol said.
"E-Commerce May End up Being 30%"
John Idol does however see the brick and mortar stores as the brand’s main source of income even in the future.
- We believe that while e-commerce one day will end up being 20% or 30% of our business, it's not going to be 100%. Our return rates on e-commerce are running very low, but a number of those returns are coming back to stores. It actually gives us an opportunity to interact with the customer. And we have seen evidence where we're actually not only taking the return, but trading the customer up and creating even a better experience with the customer.