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Michael Kors Opens Largest Store in SoHo, NYC - Analyst Blog

Global lifestyle brand, Michael Kors Holdings Limited (KORS), has opened its biggest flagship store in the world at 520 Broadway in New York's SoHo.

Spanning 22,000 square feet and occupying three stories, this SoHo outlet marks numerous milestones for the company. With this store the brand is not only launching its first outlet to feature men's wear but is also unveiling its men's footwear range in stores. Moreover, the store comprises a floor fully dedicated to Michael Kors and MICHAEL Michael Kors accessories and the largest assortment of MICHAEL Michael Kors ready-to-wear and footwear worldwide, including a shoe salon, the first of its kind in the U.S.

With this store, Michael Kors intends to further develop its already established men’s business by adding the menswear line to its stores. This act provides ample opportunity to expand its retail business, the key component of its growth strategy.

The new store also features distinctive design elements across each section. Further, the interior of each floor is classic as well as trendy and offers customers an incredible shopping experience.

The store’s ground floor is entirely devoted to accessories from Michael Kors Collection and MICHAEL Michael Kors, including handbags, small leather goods, watches, jewelry, beauty, fragrances and eyewear.

The first level covering floor space of 4,000 square foot will present the men’s collection. The floor will offer tailored clothing services, shirts, ties, sportswear and accessories for men.

The second floor will offer the largest range of MICHAEL Michael Kors ready-to-wear and footwear along with a spacious shoe salon. This shoe salon will be the brand’s first to present the seasonally updated range of six essential shoes for women on the move. This collection, called the Michael Kors Jet Set 6, comprises Irving sneakers, Odessa high heels, Kristen kitten heels, metallic jelly sandals, Somerly wedges and Walton ankle boots in various colors.

Other menswear collection at the store will include a wide array of sportswear, suede and leather outerwear, a Men’s Suit Shop featuring the store’s exclusive suit range as well as sport coats, dress shirts and ties, and men’s runway and exotic bags along with small leather goods.

Other Favorable Stocks

Michael Kors currently holds a Zacks Rank #3 (Hold). Better-ranked stocks in the apparel industry include Gildan Activewear Inc. (GIL) sporting a Zacks Rank #1 (Strong Buy), as well as Crocs Inc. (CROX) and Lululemon Athletica Inc. (LULU), both carrying a Zacks Rank #2 (Buy).

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