Michael Kors to grow footwear as it reports 32% revenue leap

2015-06-24 14:08:09 Mid-market leather and fashion brand Michael Kors has announced a 32% increase in revenues for the year to the end of March to reach to $4.4 billion. The US brand has reaped the rewards of growth in the mid-priced leathergoods bracket, taking market share from rival Coach. CEO John Idol said: “Fiscal 2015 marked another year of sales and earnings growth in excess of 30%. While we were faced with a number of headwinds in the fourth quarter, we were pleased with the strong performance across our segments and geographies. We believe that our results demonstrate the strength of the Michael Kors brand as our luxury products continue to resonate with consumers worldwide.” This year the company will focus on growing its footwear offering.