Michael Kors Handbag Sales Decline

If you’re looking to upgrade your handbag collection with an investment piece that oozes a sophisticated vibe, consider adding a Michael Kors bag to the mix. The iconic brand is offering up some major discounts on its coveted bags right now. The retailer’s sale section currently has a selection of looks on sale for up to 83% off. From the Gabby Medium Faux Leather Satchel to the Jet Set Medium Pebbled Backpack, there are a variety of styles to choose from that you can add to your wardrobe.

Sophisticated leather is a Michael Kors calling card, and his designs have become synonymous with uptown style. Since launching his namesake lifestyle label in 1981, the designer has blended references to classic American sportswear with an innate sense of refined glamour to create timeless pieces that exude sophistication. His collection of bags, accessories and ready-to-wear is a perfect example.

Despite the high-end clout of the brand’s name, sales of Michael Kors purses and totes have been slowing. According to market research firm NPD Group, women’s purse and tote sales have fallen more than 20% through the first eight months of this year compared with last year. The decline is being fueled by an increasingly mature retail audience, as shoppers view the category as a nice-to-have rather than a must-have. This has impacted brands such as Kate Spade, which is owned by Tapestry Inc. and Michael Kors parent Capri Holdings, which has seen its stock drop this year.

The discounting of purses has also been influenced by an emerging resale market, where buyers can score new-to-you designer bags at lower prices. Companies such as Rebag and The Real Real have helped to reshape the industry by offering used luxury handbags from designers like Fendi and Chanel at a fraction of the original price. And in a bid to boost its sales, Michael Kors has been working to expand its resale offerings with a new pre-loved line called MK Pre-Loved.

Aside from MK Pre-Loved, the brand is continuing to offer markdowns on its new season styles. As part of the KORSVIP loyalty program, members can enjoy free shipping and returns, private styling appointments, birthday rewards and early access to sales for even more savings on their favorite pieces. Sign up to become a member for free here.

While the retailer’s sale may not last forever, some of the bags on offer are already selling out. The Gabby Medium Faux Leather Satchel, which normally costs PS345, is down to PS109, while the Jet Set Small Saffiano Leather Crossbody Bag is now just under $100. Other discounted bags include the Jet Set Travel Stripe Zip Pouch, which has been reduced to just $44, and a matching wallet that is now under $50.

The Michael Kors sale is available online and in stores while supplies last. To see all of the new-to-you purses that are up for grabs, check out the selection here. If you’re ready to get your hands on a new Michael Kors bag, click through the gallery above. michael kors handbag sales

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